A table was purchased by paying a cash down payment of ₹ 750 followed by ₹ 436 after a period of 6 months. If the rate of interest charged is 18% p.a., what is the cash price of the table?
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Answer:
M.V = P×n+p×n(n+1) × r.
2×12. 100
19125=750×24+750×24(24+1) × r.
2×12. 100
1984 = 18000 + 18750r
100
r= 6%
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