A television is a available for Rs.7500 cash or Rs. 3000 cash down payment followed by five equal monthly instalments of Rs.1000 each. Find the rate of interest per annum charged under the instalment
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Normal Price-Rs.7500
Total Price at EMI-DOWN PAYMENT+ INSTALLMENTS=3000+5000=RS.8000
Simple Interest-500
time-5/12 year
SI=P×R/100×T
500=7500×R/100×5/12
500=125r/4
500×4/125=r
16=r
16% interest
Total Price at EMI-DOWN PAYMENT+ INSTALLMENTS=3000+5000=RS.8000
Simple Interest-500
time-5/12 year
SI=P×R/100×T
500=7500×R/100×5/12
500=125r/4
500×4/125=r
16=r
16% interest
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