Question

6,
Q. 6. The cash price of a scooter in a show-
room is Rs. 20,000. Under an instalment
scheme this is available for cash down pay-
ment of Rs. 11,000 with two equal annual
instalments at 25% annual rate of interest. If
the interest is compounded every year then
find the amount of each instalment.​

Answer 1

Given :-

• The cash price of a scooter in a show-room is Rs. 20,000.
• Under an instalment scheme this is available for cash down pay- ment of Rs. 11,000 with two equal annual instalments at 25% annual rate of interest.
• the interest is compounded every year .

To Find :-

• The amount of each instalment. ?

Solution :-

→ cash price of scooter = Rs.20,000 .

→ cash down payment = Rs.11,000 .

So,

→ Balance to be paid = 20000 - 11000 = Rs.9000 .

Now, Let us assume that, Rs. x is the amount of each instalment and P1 and P2 are the principals for each instalment .

then,

→ x = P1{1 + (25/100)}

→ x = P1{1 + (1/4)}

→ x = P1(5/4)

→ P1 = (4x/5)

and,

→ x = P2{1 + (25/100)}²

→ x = P2{1 + (1/4)}²

→ x = P2(5/4)²

→ x = P2(25/16)

→ P2 = (16x/25)

therefore,

→ P1 + P2 = Balance to be paid

→ (4x/5) + (16x/25) = 9000

→ (20x + 16x)/25 = 9000

→ 36x = 9000 * 25

→ 4x = 1000 * 25

→ x = 250 * 25

→ x = Rs.6250 . (Ans.)

Hence, the amount of each instalment is Rs.6250 .

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Answer 2

Answer:

Step-by-step explanation: