a television is available for Rs.7500 cash or Rs.3000 vash down payment followed by five equal monthly instalments of Rs.1000 each.Find the rate of interest per annum charged under the instalment plan.
Answers
Answered by
3
interest=[3000+5000-7500]=500
rate=(500×100)/7500×5/12=16%
rate=(500×100)/7500×5/12=16%
Similar questions