. A scooty is sold by an automobile agency for
Rs. 19200 cash or for Rs. 4800 cash down payment together with
five equal monthly instalments. If the rate of interest charged by the
company is 12% per annum find each instalment.
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Answer:
cost of scooty sold by automobile agency=19200
down payment=4800
interest charged by the company=12%
total amount=19200+4800=24000
each installment =24000/100*12=2880
therefore each installment=2880
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