Question

35. A man purchase a motorbike for a certain price
and promise to pay the price in 3 equal annual
installments of 10,800 at the rate of 20% per
annum. find the cost price of motor bike.​

Answer 1

Answer:

The cost price of the bike would be 18,750

Step-by-step explanation:

Let P be the cost price of the car,

∵ Annual rate of interest, r = 20% = 0.2,

Time, t = 3 years,

Thus, the total amount paid for the car,

$A = P(1+r)^t$

Since, annual instalments of 10,800 is paid for 3 years

So, A = 3 × 10,800 = 32,400

$\implies 32400 = P(1+0.2)^3$

$32400 = P(1.2)^3$

$32400 = 1.728P$

$P=\frac{32400}{1.728}=18750$

Hence, the cost price of the bike would be 18750.

#Learn more :

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Find the marked price of a motorbike which is bought at $ 36300 after paying a sales tax at the rate of 10%

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Answer 2

Answer:

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