A pressure cooker is available for 250 rupee cash or 100 cash down payment followed 165 rupee after 6 month .Find the the rate of interest charged under the installment plan
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intrest
=(100+165)-250
=265-250
=15
Rate of intrest
=15/250×100
=6%
I hope you will get the answer from it.
This is a short method for finding rate of interest charged.
THANK YOU!
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