Harika Venus
Harika Venus
1 year ago

A man buy a T.V for Rs 20,000 he paid 7,600 Rs as down payment and rest in equal installment at 12% rate of simple interest in 5 years. Find the installment?

Solution(By Examveda Team)

Loan amount = 20000 - 7600 = Rs. 13400
Rate of Interest = 12%
Year = 5
Total amount need to pay = 13400 + (13400 X 12 X 5)/100 = 13400 + 8040 = Rs. 21440
Monthly installment = 21440 / 60 = RS. 357.33/-

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Comments ( 1 )

  1. Roshan Vali
    Roshan Vali :
    2 weeks ago

    3200

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