Math, asked by swethasharon282000, 1 year ago

A television is 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 plan.

plz answer step by step plzzzzzz......................

Answers

Answered by sujit21

Buying the television of cash would cost Rs 7500.
Buying on hire purchase wouldcost :3000+(5*1000)=Rs8000You realize that that the hire purchase price is higher by Rs 500
The percentage interest is therefore500/7500*100%=6.67%Thus rate=6.67%
I hope it's helps u alot.

swethasharon282000: tq lot

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