Question

for each period interest to be calculated on the balance of......
a)cash price remaining unpaid
b)installment price remaining unpaid
c)cash price minus the installment paid
d)none

Answer 1

Answer:

cash price minus the installment paid

Answer 2

The answer is option(C)

An interest rate is the level of the chief aggregate that you get as remuneration for the cash you place in a store account-or the rate that you want to pay to the moneylender when applying for a new line of credit. All the more definitively, the interest rate definition comprises an extent of the sum loaned, kept, or acquired relying upon how much cash you get (or save) and the loan fees for said cash, just as the period of time over which the cash is stored or acquired.