Question

5.
An Iron is bought for cash down payment of Rs. 210 and two equal monthly
instalments of Rs.220 each. If the rate of interest is 20% annually then find the cash
price of the Iron.​

Answer 1

Answer:

x=2435

Step-by-step explanation:

Let the cash price be x

then down payment = 210

balance to pay in installment = x-210

20% is rate of intrest

the customer has to pay Rs.220 each month

First installment = 220 + 220 (20)/100 = 264

second installment = 220

third installment = 484

so,

extra cash = 84

I = prt/100

84 = (x-210)2(20)/100×12

440×12= 2x-420

5280 = 2x-420

2x = 5280-420

x = 4860/2

x = 2435

hope it helped yuh :)