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with variables
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Installment
1. A briefcase is available for Rs 800 cash or for Rs 500 cash down payment and Rs 320 to be paid after 6 months. Find the rate ...
2. A bicycle is sold for Rs 1800 cash or for Rs 600 cash down payment followed by 2 monthly installmnets of Rs 610 each. Compute ...
3. A washing machine is available at Rs 6400 cash or for Rs 1400 cash down payment and 5 monthly installments of Rs 1030 each. C ...
4. A computer is sold by a company for Rs 19200 cash or for Rs 4800 cash down payment together with 5 equal monthly installments ...
5. A State Government announces sale of flats of Rs 555000 cash or Rs 42750 cash down payment and 3 equal Yearly installments. T ...
6. A TV set is available for Rs 19650 cash payment or for Rs 3100 cash down payment and 3 equal Yearly installments. If the shop ...
7. A man borrows money from a finance company and has to pay it back in 2 equal Half Yearly installments of Rs 4945 each. If the ...
8. Ram borrowed a sum of money and returned it in 3 equal Quarterly installments of Rs 17576 each. Find the sum borrowed, if the ...
Problem 1 of 8
1. A briefcase is available for Rs
cash or for Rs
cash down payment and Rs
to be paid after
months. Find the rate of interest charged under the installment plan.
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Installment
1. A briefcase is available for Rs 800 cash or for Rs 500 cash down payment and Rs 320 to be paid after 6 months. Find the rate of interest charged under the installment plan.
Cash Price = `800`
Down Payemnt = `500`
Remaining Balance = `800 - 500 = 300`
The installment to be paid at the end of `6` months = `320`
`:.` the interest charged on Rs `300`, for a period of `6` months = Rs `320` - Rs `300 = 20`
If R % is the rate of interest per annum, then
`(300 × R × 6) / (100 × 12) = 20`
`R = 13.3333`
Thus, the rate of interest charged under the installment paln is = `13.3333` per annum
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