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ankush wanted to purchase a LCD(TV) and went to a showroom.he found that LCD with marked price of Rs.30,000/-,is avaible with cash payment along with 5% discount or Rs.5000 as cash down payment followed by 3 equal monthly installments with interest at the rate of 10% per month.find the difference in amount payable under the two schemes.

Answer :

olemakpadu
1st payment method:

Cash payment along with a discount of 5% .

From discount % to pay = 100% - 5% = 95%

Hence pay 95% of the the price  =  95%  * 30000 = 0.95 * 30000 = 28500

Use a calculator.

1st payment method = Rs 28500

2) 2nd payment method:

Rs 5000 down payment :  30 000 - 5000 = 25 000

So the remaining 25000 would be paid in three equal monthly installments

At 10% per month interest:

10% of 25 000 = 2500

For the three months = 3 * 2500 = 7500

So the 25000 will be paid plus the monthly interests =  25000 + 7500 = 32500

Plus also the initial down payment of the 5000 = 32500 + 5000 = 37500


Amount payable in first scheme:  28500

Amount payable in the second scheme: 37500

Difference = 37 500 - 28 500 =  9 000

Difference = Rs.9 000

I hope this helps.

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