Bholu's friend buys a computer at 15000 Rs . he takes a loan from the bank at a 12% rate of interest per annum. the bank asks him to pay montjly instalment does Bholu's friend pay ?

Asked by rajanghai.2014 | 23rd Oct, 2015, 07:31: PM

Expert Answer:

G i v e n space t h a t space t h e space p r i c e space o f space t h e space c o m p u t e r space i s space R s.15000 I n t e r e s t space r a t e space c h a r g e d space b y space t h e space b a n k equals space 12 percent sign space open parentheses A s s u m i n g space t h a t space t h e space b a n k space c h a r g e s space f l a t space r a t e close parentheses T h e r e f o r e comma space S i m p l e space i n t e r e s t space f o r space o n e space y e a r equals fraction numerator 15000 cross times 12 cross times 1 over denominator 100 end fraction equals R s.1800 T h u s comma space t h e space t o t a l space a m o u n t equals P r i n c i p a l plus S i m p l e space i n t e r e s t space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals R s.15000 plus R s.1800 equals R s.16800 T h e r e f o r e comma space m o n t h l y space i n s t a l m e n t equals 168000 over 12 equals R s.1400 T h u s comma space B h o l u apostrophe s space f r i e n d space w i l l space p a y space R s.1400 space a s space a space m o n t h l y space i n s t a l m e n t space f o r space 1 space y e a r.

Answered by Vimala Ramamurthy | 24th Oct, 2015, 09:42: AM