the cost of a dining table is rs 8400 . Venkat wants to buy it in 10 installments. if the company offers it for a S.I. of 5% p.a.,find the E.M.I. and the total amount paid by him
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Cost = 8400
SI of 5% p.a. on 8400 for 1 installment
SI = ( 8400 x 5 ) / 100
SI = 420
Now SI for 10 installments = 10 x 420
= 4200
Total amount = Cost + SI for 10 installments
= 8400 + 4200
= Rs. 12600
SI of 5% p.a. on 8400 for 1 installment
SI = ( 8400 x 5 ) / 100
SI = 420
Now SI for 10 installments = 10 x 420
= 4200
Total amount = Cost + SI for 10 installments
= 8400 + 4200
= Rs. 12600
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