Question

kamal purchased a computer in instalment plan by paying 5612.50 cash down payment followed by 3 equal quarterly instalments of 8788 each. If the rate of interest charged was 16% per annum, compounded quarterly, find the cash price of the computer. Also find the total interest charged

Answer 1

Answer:

According to question cash price CP = Rs.39000

Cash down payment

DP = Rs.17000

Balance due after 1st instalment

BD = Rs.22000

P = value of instalment = Rs.4800

n = no. of inslalmenls = 5

R = rate of interest

(1+nR1200)BD={1+(n−1)R2400}nP

(1+5R1200)22000={1+4R2400}5×4800

=> (1+5R1200)11={1+4R2400}12

=> 11+55R1200=12+24R1200

=> 55R1200−24R1200=1

=> 31R1200=1

=> R = 120031 = 38.71%

Answer 2

Step-by-step explanation:

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