If the cost of a mobile phone is Rs. 25,000, available at Rs. 5,000 d…

Question

If the cost of a mobile phone is Rs. 25,000, available at Rs. 5,000 down payment followed by 3 equal annual instalments (each instalment is to be paid at the end of each year) at the rate 25% p.a. compound interest, the…

Accepted Answer

Option D. Rs. 10,245.90. Answer & Solution Answer: Option D Solution: Cash payment = 25000 Down payment = 5000 Remaining = 20000 Rate = 25% = 1/4 $$ array*20c 100 = 4 × 25&5 × 25 = 125 \ 80 = 16 × 5&25 × 5 = 125 \ 64 = 64&125 - 125 array$$ 244 unit → 20000 1 unit → 81.9672 Each installment 125 unit →…

If the cost of a mobile phone is Rs. 25,000, available at Rs. 5,000 down payment followed by 3 equal annual instalments (each instalment is to be paid at the end of each year) at the rate 25% p.a. compound interest, then find the value of each instalment (rounded off to two decimal places):

Solution