A computer is available for Rs 39000 cash or 17000 as cash down payment followed by five monthly instalments of Rs 4800 each. Bank also gives a loan at the rate of 24% per annum to purchase the computer. Which option is better?
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Answered by
2
I would directly buy the computer for 39000Rs as I wont have to pay the interests.
Answered by
1
On down payment:-
4800*5=24000
Extra money pay =
24000-17000=7000
On bank loan:-
17000*24/100=21080
Extra money pay=
21080-17000=4080
In bank loan is better
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