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Rohan purchased a mobile  Rs. 5000 cash or Rs. 500 down payment followed by 4 equal instalments. If the rate 25 % per annum at simple interest calculate monthly instalment and find the nearest integer value. 


1. 1182
2. 1720
3. 1522
4. 1155
5. 2102

1 Answer

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Best answer
Correct Answer - Option 1 : 1182

Given :  After down payment 5000 – 500= 4500

Rate % = 25 %

 Total instalment = 4

Formula used :

 \(instalment = \frac{{100 \times amount}}{{\begin{array}{*{20}{c}} {100 \times n + \;R \times \frac{{n\left( {n - 1} \right)}}{2}}\\ {} \end{array}}}\)

calculation :

\( = (4500×25×4)/(12×100) + 4500 = 4875 \)

Instalment 

\(\frac{{100 \times \;4875}}{{\begin{array}{*{20}{c}} {100 \times 4 + \;25 \times 4/12 \times \frac{3}{2} \times }\\ {} \end{array}}} = {\rm{ }}{\bf{1181}}.{\bf{8}}\;\)

 

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