Question

a television for rs 7500 cash or rs 3000 cash down payment followed by fuve equal monthlay inst.of rs 1000 each .find rate of interest per annum

Answer 1

I=p x r x t
500=4500 × r/100 × 5/12
500=45×5/12×r
500=225/12×r
500÷225/12=r
60=r
Therefore rate is 60%
$= = = = = = = = = = 3$