A TV stand is sold for Rs.3,000 cash or cash down payment of Rs.600 wi – InterviewSolution

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1.	A TV stand is sold for Rs.3,000 cash or cash down payment of Rs.600 with twoequal monthly instalments of Rs. 1,250. Find out the rate of interest charged in thescheme
Answer» Buying the television of cash would cost Rs 3000.Buying on hire purchase would cost :600+(21250)=Rs3100You realize that that the hire purchase price is higher by Rs 100The percentage interest is therefore 100/3000100%=33.33%Thus rate=33.33%

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