Example 3. A wrist which is marked at Rs. 970 cash or for Rs. 210 cash down payment followed by three equal monthly instalments. If the rate of interest charged under the instalment plan is 16% p.a; find the monthly instalment.
Solution:- Cash price = Rs. 970
Cash down payment Rs. 210
Balance to be paid in instalment
= Rs. 970 - Rs. 210
= Rs. 760
Rate = 16%
At the end of 3 months, Rs.760 will be amount to
Let the monthly instalment be x.
At the end of 3 month, first instalment of Rs. x will amount to
The second instalment of Rs. x
will be amount to
At the end of 3 months, all the three instalments will amount to
from (i) and (ii) we get
| Subjects | Maths (Part-1) by Mr. M. P. Keshari |
| Chapter 1 | Linear Equations in Two Variables |
| Chapter 2 | HCF and LCM |
| Chapter 3 | Rational Expression |
| Chapter 4 | Quadratic Equations |
| Chapter 5 | Arithmetic Progressions |
| Chapter 6 | Instalments |
| Chapter 7 | Income Tax |
| Chapter 8 | Similar Triangles |
