Installment - A computer is sold by a company for Rs 19200 cash or for Rs 4800 cash down payment together with 5 equal monthly installments ... calculator

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4. A computer is sold by a company for Rs cash or for Rs cash down payment together with equal monthly installments. If the rate of interest charged by the company is % per annum, find each installment.

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Installment

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. If the rate of interest charged by the company is 12 % per annum, find each installment.

Cash Price = `19200`

Down Payemnt = `4800`

Number of Installment = `5`

Rate = `12`

Remaining Balance = `19200 - 4800 = 14400`

At the end of `5` months, Amounts to = `14400 + (14400 × 5 × 12) /(12 × 100) = 14400 + 720`

` = 15120 ->(1)`

Let Installment = `X`

`1^(st)` Installment `= X + (12 × X × 4) / (12 × 100)`

`2^(nd)` Installment `= X + (12 × X × 3) / (12 × 100)`

`3^(rd)` Installment `= X + (12 × X × 2) / (12 × 100)`

`4^(th)` Installment `= X + (12 × X × 1) / (12 × 100)`

Total Installment `= X + ( X + (12 × X × 4) / (12 × 100) ) + ( X + (12 × X × 3) / (12 × 100) ) + ( X + (12 × X × 2) / (12 × 100) ) + ( X + (12 × X × 1) / (12 × 100) )`

Total Installment `= 5 X + (12 × X ×(4 + 3 + 2 + 1))/ (12 × 100)`