A television is available for Rs. 8000 cash or Rs. 3000 cash down payment followed by 4 annual instalments of Rs. 1500 each. Find the rate of interest per annum charged underthe instalment plan.
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After paying 3000 as down payment
he was supposed to pay RS. 5000 but he paid rs 6000. So interst paid rs.1000. interest paid per installment rs 1000/4=Rs. 250
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