A briefcase can be sold for Rs 600 or for a certain amount of cash dow – InterviewSolution

InterviewSolution

1.	A briefcase can be sold for Rs 600 or for a certain amount of cash down payment followed by a payment of Rs 309after months .if the rate of interset is 12% per annum find the cash down payment (in Rs )
Answer» 300 302 298 297 Solution :The cash PRICE of the briefcase =Rs 600 Let the down payment be Rs x ltrbgt Principal amount for EACHMONTH = Rs (600-x) ltrbgt `therefore` TOTAL principal for 3 months (in Rs) =(3600-x) Interest (in Rs )=x+309-600=x-291ltrbgt `therefore x-291 =(3(600-x)12)/(1200)` `RARR 10x-29,100=1800-3x` `rarr 103 x=30,900` `rarr x=300`

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