The price of a TV set worth 20000 is to be paid in 20 installments of 1000 in the rate of interest be 6% per annum and the first installment be paid at the time of purchase then the value of the last installment covering the interest will be?
Answers
Answered by
0
principal=20000
rate of interest=6%
time=20months
= 20/24
the last installment will be
1000+1440
=2440
rate of interest=6%
time=20months
= 20/24
the last installment will be
1000+1440
=2440
Attachments:
sprao534:
how the interest is 1440
because the time will be 20months. 1 install
ment means 1 month
20 months =20/24 how
if we have time given in months so we see acording to year
1 y= 12months
2 y =24 months
Similar questions