A TV can be bought for Rs. 20000 cash or by paying in four equal monthly installments with
an initial down payment of Rs. 4000. If the rate of interest for this facility is 8% per annum, then
what would be the installment charged for each month?

Related MCQs

• A sum becomes Rs. 3000 at the rate of 12% per annum (simple interest). The same sum becomes Rs. 3300 at the rate of 15% per annum (simple interest) in the same duration. Find the sum and the duration.
• How much should be the annual installment to completely pay off a debt of Rs. 1078 in 6 years at 9% per annum rate of interest?
• A sum of Rs. 4000 amounts to Rs. 4600 in 5 years at a certain rate of simple interest. What would be the amount, if the rate of interest is increased by 3 %.
• Find the principal which yields a simple interest of Rs. 20 and compound interest of Rs. 21 in two years, at the same percent rate per annum?
• Aman invests Rs. 8000 at some rate of interest. Being simple interest the money doubles in 5 years. Raj sees this and invests Rs. 6250 for 3 years at same rate of interest. How much interest does Raj get?
• If simple interest for 2 years for a sum is Rs. 600 and compound interest for the same sum for 2 years and same rate of interest is Rs. 645, what will be the rate of interest?
• certain sum earns simple interest of Rs. 800 in 2 years at a certain rate of interest. If the same sum earns compound interest of Rs. 845 in the same period of 2 years, What must be the rate of interest?
• What time will be taken by an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
• Guddi invested some money in a bank at rate of 6% per annum. At simple interest, after 9 years, she got Rs. 8470. How much did she invest?
• Ram gets Rs. 2600 for Rs. 2000 in 5 years at some rate of simple interest. Had he invested in other places where rate of simple interest is 3% more than current rate, how much would have Ram got in same time?