Question

4.
The cash price of a microwave oven is Rs. 20,100. if this is available for Rs.3700
cash down payment with two equal monthly instalments at 10% annual rate of
interest then find the amount of each instalment.

please help me​

Answer 1

Answer:

Rs. 8167.67

Step-by-step explanation:

1) Effective rate

  (1 + 0.1) = (1 + i/12)^12

             i = 0.0956

2) Price = 20,100 - 3700

             = 16,400

3)                    16400                    

   R =     (1 + 0.0956/12 )^2 - 1)

                     0.0956/12

   R = 8167.67