Price of a TV purchased is ₹12000. ₹1000 is paid and rest is paid in monthly installment of ₹2300 for 5 months. Calculate the rate of intrest charged.

Asked by pratimasachan312 | 18th Jan, 2022, 08:31: PM

Expert Answer:

Total cost = ₹12000
Paid = ₹1000
 
Pending = ₹11000
 
1 month installment = ₹2300
5 month = ₹11500
 
Interest = 11500 - 11000 = ₹500

Answered by Arun | 19th Jan, 2022, 11:31: AM

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