Question

the cost of a microwave ovan is ₹6000.poorani wants to buy it in 5 instalments.if the company offers it at the rate of 10% p.a.Simple interest,find the E.M.I.and the total amount paid by her.

Answer 1

CP=RS.6000
R=10%
total installments to give=5
S.I= P×R×T by 100
=600
so, Amount=6000+600
=6,600rs
EMI for per month = 6600/5
=1320rs for per month
thanks

Answer 2

Answer:

Cost Price of the Microwave oven = Rs 6000

Rate of interest = 10%

                          = 0.1

Time = 5 months

         = 5/12 years

Simple Interest = Principal × Rate × Time

                          = 6000 × 0.1 × 5/12

                         = Rs. 250

Amount = Simple Interest + Principal

⇒ Amount = 6000 + 250

                   = Rs. 6250

Number of installments = 5

So, EMI = 6250/5

⇒ EMI = Rs. 1250