Question

Exercise
A chair is sold for cash price of Rs. 450 or a cash down payment of Rs 210 and to
equal monthly instalments of Rs 125 each. Find out the rate of interest changed in
the scheme
A TV stand is sold for Rs.3.000 cash or cash down payment of Rs.600 with two
equal monthly instalments of Rs. 1.250. Find out the rate of interest charged in the
scheme
The cash price of a fan is Rs. 1.940. In the instalment scheme it is available for a
cash down payment of Rs 620 and two equal monthly instalments. If the rate of
annual rate of interest charged in under the scheme is 16% then find the amount of
each instalment​

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

ANSWER

Let r% p.a. be the rate under installment scheme. After Rs 600 cash is paid, Rs 1200 remained to be paid.

This becomes Rs 1,220. Total interest paid is Rs 20.

Now Rs 1,200 is kept for one month and Rs 600 is kept for one month.

⇒ Rs 600 is kept for 3 months at r% and interest paid is Rs 20.

$\therefore 20 = 600 \times \frac{3}{12} \times \frac{r}{100}$

$= > r = \frac{40}{3} = 13.33\%$