Question

monika buys a samasung refrigerator for 42000 she makes a down payment of 12000 and the remaining amount in 4 equal half early installment if agency charge intrest of 10 %per annum approximately what amount monika has to pay every six month​

Answer 1

Answer:

42000-12000=30000 has to be paid in 4 half yearly instalment.

Interest for 4 half year = 30000×4×(10/200) = 6000

So in one instalment interest=6000/4=1500

So total amount he pays in one instalment

=30000/4 +1500=9000 (one fourth of principal+interest). This calculation is for simple interest. For compound interest, calculation will be different.

Answer 2

Answer:

Monika has to pay 8460 every six month.

Explanation:

Given

• Cost of refrigerator => 42000

• Amount paid as down paid by monika => 12000

• Interest charged per annum => 10%

To Find

• Amount monika has to pay every six month​

Since,she is repaying the amount half-yearly,the interest =>5%

So,

Amount on which Monika has to pay the interest =>42000-12000=12000

$\implies 3000\times \dfrac{105}{100}\ =\dfrac{x}{1.05^{3}}+\dfrac{x}{1.05^{2}}+\dfrac{x}{1.05}+x$

$\implies 31500=3.723x$

$\implies x=8460$