Question

an article is sold for 500 cash 0r 150 downpayment followed by 5 equal monthly installments . rate is 18%pa .find each monthly installment .​

Answer 1

Answer:

73.058

Step-by-step explanation:

Given  

an article is sold for 500 cash or 150 down payment followed by 5 equal monthly installments . rate is 18%pa .find each monthly installment

 Let the article be 500 – 150 = 350

So A = 350 + 350 x 5 x 18 / 12 = 376.25

Now let the first installment be 100

Second installment will be 100 + 100 x 18 / 1200 = 101.5

Third installment will be 101.5 + 1.5 = 103

Fourth installment will be 103 + 1.5 = 104.5

Fifth installment will be 104.5 + 1.5 = 106

So total installment will be 100 + 101.5 + 103 + 104.5 + 106 = 515

If for total installment is 515 then …………… 100

If 376.25 then it will be 376.25 x 100 / 515 =73.058

So each monthly installment will be 73.058