show different stages of Mathematical
modelling for solving the problems.
Project 1: A TV can be purchased for Rs. 24000 cash or Rs 8000 cash down payment
and six monthly instalments of Rs 2800 each. Ali goes to the market to buy a TV and he
has Rs 8000 with him.He now has two options.One is to buy TV under instalment
scheme or to make cash payment by taking a loan from some financial society. The
society charges simple interest at the rate of 18% per annum simple interest. Which
option is better for Ali and why? Explain.
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