A pressyre 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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Answer: 6%
Explanation:
Original cost = 250
New cost = 100 + 165 = 265
Difference in cost = 265 - 250 = 15
Interest calculated on original cost, 250.
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