at the top furniture factory, baber bought three chairs for Rs. 3999 each and a coffee table. He paid 1/3 of the total cost at the time of purchase and the balance in 8 equal monthly installments. What was the amount of each month's payment? A) Rs. 1500.00 B) Rs. 1424.75 C) Rs. 1200.25 D) none of these

Question

Kenya Crane

Mathematics

22 June, 20:39

at the top furniture factory, baber bought three chairs for Rs. 3999 each and a coffee table. He paid 1/3 of the total cost at the time of purchase and the balance in 8 equal monthly installments. What was the amount of each month's payment? A) Rs. 1500.00 B) Rs. 1424.75 C) Rs. 1200.25 D) none of these

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Madden Fritz · Answer 1

Since interest rate is not given, we assume that there is no interest on the installments.

Sale price = 3999

downpayment = 1/3 (3999) = 1333

balance = 3999-1333=2666

divided into 8 installments, each installment

= 2666/8=Rs. 333.25