Answer the following questions in about 100 to 150 words
Ankush wanted to purchase a LCD (TV) and went to a Showroom. He found that LCD with
marked price of Rs. 30,000/-, is available with Cash payment alongwith 5% discount or for Rs.
5000 as cash down payment followed by 3 equal monthly installments with interest at the rate of
10% per month. Find the difference in amount payable under the two schemes.
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Scheme one
30,000*95/100 (5% discount)
=28,500
scheme two-
down payment =5,000
total sum left=30,000-5,000=25,000
Simple interest(S.I)=(Principle Amount*rate*time)/100
SI=(25,000*10*3)/100
=2,500*3
=7,500
Therefore total amount that would be paid =25,000+7,500+5,000
=38,000
Therefore difference is 38,000-28,500=9,500
30,000*95/100 (5% discount)
=28,500
scheme two-
down payment =5,000
total sum left=30,000-5,000=25,000
Simple interest(S.I)=(Principle Amount*rate*time)/100
SI=(25,000*10*3)/100
=2,500*3
=7,500
Therefore total amount that would be paid =25,000+7,500+5,000
=38,000
Therefore difference is 38,000-28,500=9,500
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