Question

The cash price of a fan is Rs.1,940. In the instalment scheme it is available for a
cash down payment of Rs 620 and two equal monthly instalments. If the rate of
annual rate of interest charged in under the scheme is 16% then find the amount of
each instalment​

Answer 1

Answer:

Solution : 

Market price=1940Rs

Down payment=420Rs

Let monthly installment=xRs

Total price=(3x_420)Rs

Intersect=(3x+420)-1940

(3x-1520)Rs

Buyer owes to seller in 1 month=1520Rs

Buyer owes to sellers in 2 months=1520-x

buyer owes to sellers in 3 months=1520-2x

total amount=4560-3x

Rate =16%

Interest=(P*R*T)/100

(3x-1520)=(4560-3x)*16/100

(3-1520)*75=(4560-3x)

228x=1520(3+75)

x=520Rs.

Answer 2

Answer:

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Step-by-step explanation:

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