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?
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Answer:
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) x 100
= (93/1240) x x 100
= 7.5 %
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Answer:
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