Question

An article is sold for 2,000 cash or for 600 as cash down payment followed byxx 1680 after one year. The rate of interest charged under instalment plan l ।(A) 16%(B) 20%(C) 28%| (D) 40%​

Answer 1

Answer:

(A) 16%

Step-by-step explanation:

Steps as follow:

1. Find the total amount paid

2. Find the interest paid

3. Find the interest rate

--------------------------------------------------

STEP 1 : Find the total amount paid

Total = 600 + 1680 = 2280

STEP 2 : Find the interest paid

/* Cash Price = 2000 */

Interest paid = 2280 - 2000 = 280

STEP 3: Find the interest rate:

interest rate = (interest/loan amount) x 100

interest rate = (280/1680) x 100 = 16%

Answer: 16%

Answer 2

Answer:

Hello Brainly user......!!♡

Answer:

(A) 16%

Step-by-step explanation:

Steps as follow:

1. Find the total amount paid

2. Find the interest paid

3. Find the interest rate

--------------------------------------------------

STEP 1 : Find the total amount paid

Total = 600 + 1680 = 2280

STEP 2 : Find the interest paid

/* Cash Price = 2000 */

Interest paid = 2280 - 2000 = 280

STEP 3: Find the interest rate:

interest rate = (interest/loan amount) x 100

interest rate = (280/1680) x 100 = 16%

Answer: 16%