Question

A second-hand car is advertised for $15 575 cash or $1600 deposit and 24 monthly payments
of $734.70.
What annual rate of interest is paid on the HP plan?​

Answer 1

❆ 7.5 % is answer

Step-by-step explanation:

Solution:

We know that the cost price of saree = Rs 1240

Selling price of saree = Rs 1147

By using the formula,

Loss = cost price – selling price

= 1240 – 1147

= Rs 93

By using the formula,

Loss % = (loss/cost price) × 100

= (93/1240) × 100

= 7.5 %

Answer 2

Answer:

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