Question

A suit is available for Rs. 1500 cash or for Rs. 500 cash down payment followed by 3 monthly installments of
Rs. 345 each. Find the rate of interest charged under the installment scheme.

Answer 1

Answer:

20000000000000000000000

Step-by-step explanation:

https://app.edmentum.com/mimetex/mimetex?\fs3%20\textrm{T}_{(^{\circ}\textrm{C})}=%20\left%20(%20\textrm{T}_{(^{\circ}\textrm{F})}-32%20\right%20)\times%20\frac{5}{9}

hope this help

Answer 2

ANSWER

Let r% p.a. be the rate under installment scheme. After Rs 600 cash is paid, Rs 1200 remained to be paid.

This becomes Rs 1,220. Total interest paid is Rs 20.

Now Rs 1,200 is kept for one month and Rs 600 is kept for one month.

⇒ Rs 600 is kept for 3 months at r% and interest paid is Rs 20.

$\therefore 20 = 600 \times \frac{3}{12} \times \frac{r}{100}$

$= > r = \frac{40}{3} = 13.33\%$