Question

Ali buy a used guitar for 24,000 rupees. if ali pay 6,000 rupees, he has to borrow the balance at 12 percent p.a. simple interest over 3 year. what are his monthly repayments?

Answer 1

I think this will be helpful to you

Answer 2

$\huge\red{Answer\: is}$

Ali Purchase = 24,000

Ali pays = Rs 6000

Balance Amount = 24,000- 6000
= 18,000

R = 12%

T = 3 Years

AS we know that
SI = PRT/100

$= \frac{18000 \times 12 \times 3}{100} \\ = 6480$
Hence Amount is = 18000 + 6480

= Rs 24480

He has to pay this amount in 3 years
= 3 × 13
= 36 months

His Monthly Repayment is
$= \frac{24480}{36} \\ = 680 \: rupees$
Hope it helps you