Rohit decided to pay 24 EMIs at 5% for buying the new model iPhone he will be paying
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Answer:
Both the price of the Iphone and 5% interest in 24 EMIs .
Step-by-step explanation:
Because here in this case he has to pay the principle and the Simple Interest For example I take a loan of $10 for 10% for 1 Year . Then I need to Pay $10 as Principle + $1 as Interest for giving me the loan = $11 .
Both the price of the I Phone and 5% interest in 24 EMIs .
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According to the question, Rohit decided to to pay 24 EMIs at 5% for buying a new model iPhone.
therefore Rohit will pay in total = cost of iPhone + 24 EMIs at 5%
that means Rohit has to pay both, one is the cost of iPhone and other is EMIs at 5% interest.
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