Math, asked by smrutiranipatra701, 6 months ago

EXERCISE 4(B)
A man purchases a Pressure Cooker priced *120 on the condition that he will pay 25 down
and the balance in 4 monthly instalments of 25. What is the rate of interest?​

Answers

Answered by savitayadav93
3

Answer:

he pays 25 rupees down.

he will then pay the rest in 4 monthly installments of 25 rupees each.

take away the 25 rupees that he put down and the amount he still owes on the pressure cooker is 95 rupees.

this amount is paid off in 4 monthly installments of 25 rupees apiece.

the use of a financial calculator is indicated here.

Answered by BlessyThomas
1

Answer :

The man bought pressure cooker of price = Rs.120

The man made a down payment = 25

So, his remaining balance = 120 - 25= Rs.95

Making a monthly installments of Rs.25 for four months = 4*25 = Rs.100

He needs to pay Rs.95 but by monthly installments he is paying 100

Means He is paying Rs.5 as rate of interest.

Let the rate of interest on Rs.95 be r

r * 95 = 5

100

r = 500/95 = 5.27(approx)

so, rate of interest on 95 rupees is 5.27.

Step-by-step explanation:

if the man has made a down payment of 25 rupees then he is left with 95 rupees to pay

so he would have to pay 95 rupees in four monthly installments with rate of interest. if if he pays 25 rupees for 4 months then you will pay a total of hundred rupees but the price of the item is 95 so we separate hundred by 95 to get the rate of interest extra money add as a charge in hundred five rupees is 5% to the rate of interest is 4.75

hope it helps ☺️

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