102. Shamshad Ali buys a scooter for Rs 22000. He pays Rs 4000 cash and agrees to pay the balance in annual instalment of Rs 1000 plus 10% interest on the unpaid amount. How much will the scooter cost him?

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9 months ago

102. Given, cost of scooter = ?22,000

Amount paid =? 4000

Amount unpaid =? 22,000 -? 4000 =? 18,000

Now, Number of installments =Amount unpaid/Amount of each instalment

 

As he per 10% interest on up unpaid amount and ?1000 each installment

Amount of 1st instalment =? 1000 +?  18000*10*1100 = ?1000 + ?1800 =? 28

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