t. Ram buys a refrigerator for Rs 4000 on credit. The rate of interest

1.	t. Ram buys a refrigerator for Rs 4000 on credit. The rate of interest for the firsyear is 5 % and the second year is 15 %. How much will it cost him if he paysthe amount after two years?rvece
Answer» Price of refrigerator = Rs 4000 Price of refrigerator after first year = 4000(1 + 5/100) = 4000(21/20) = 20021 = 4200 Price of refrigerator after second year = 4200(1 + 15/100)= 4200(23/20)= 21023 = 4830 Therefore fridge will cost him after two years = Rs 4830

t. Ram buys a refrigerator for Rs 4000 on credit. The rate of interest for the firsyear is 5 % and the second year is 15 %. How much will it cost him if he paysthe amount after two years?rvece

Answer»

Price of refrigerator = Rs 4000

Price of refrigerator after first year = 4000(1 + 5/100) = 4000(21/20) = 200*21 = 4200

Price of refrigerator after second year = 4200(1 + 15/100)= 4200(23/20)= 210*23 = 4830

Therefore fridge will cost him after two years = Rs 4830