A man buys a TV priced at Rs. 16000. He pays Rs. 4000 at once and the rest after 15 months on which he is charges a simple interest at the rate of 12% per year. The total amount he pays for TV is = ?

Solution(By Examveda Team)

Total price of TV = Rs. 16000
Initial payment = Rs. 4000
Remaining amount = Rs. 12000
Simple interest in 15 months for Rs. 12000
$$\eqalign{ & \Rightarrow {\text{S}}{\text{.I}}{\text{. = }}\frac{{{\text{P}} \times {\text{R}} \times {\text{T}}}}{{100}} \cr & \Rightarrow {\text{S}}{\text{.I}}{\text{. = }}\frac{{12000 \times 12 \times 15}}{{100 \times 12}} \cr & \Rightarrow {\text{S}}{\text{.I}}{\text{. = Rs}}{\text{. 1800}} \cr} $$
⇒ With S.I. total amount to be paid for principal amount Rs. 12000
= Rs. (12000 + 1800)
= Rs. 13800
= Therefore, total amount he pays for the TV is
= 4000 + 13800
= Rs. 17800