Question
A table is available for Rs.350 or for Rs. 150 cash down
payment together with Rs.230 to be paid after two months. Find the rate of interest charged under this scheme.Solution
Amount as a principal for first and second month = 350 - 150 = Rs. 200 Now, Interest = 230 - 200 = Rs.30 30 = 200 × 2 × R/ (100 × 12) r = 90%
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