Instalment Buying
NIOS · Class 10 · Maths
Flashcards for Instalment Buying — NIOS Class 10 Maths. Quick Q&A cards covering key concepts, definitions, and formulas.
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Get startedA television set is sold for ₹20000 cash or for ₹6000 as cash down payment followed by ₹16800 after six months. Find the rate of interest charged under the instalment plan.
Answer
Step 1: Cash price = ₹20000 Step 2: Cash down payment = ₹6000 Step 3: Balance = ₹20000 - ₹6000 = ₹14000 Step 4: Present value of ₹16800 after 6 months is ₹14000 Step 5: Use simple interest for 6 month…
A table fan is sold for ₹450 cash or ₹210 cash down payment followed by two monthly instalments of ₹125 each. Find the rate of interest charged under the instalment plan.
Answer
Step 1: Total paid = ₹210 + 2 × ₹125 = ₹460 Step 2: Interest paid = ₹460 - ₹450 = ₹10 Step 3: Principal owed each month: - 1st month: ₹450 - ₹210 = ₹240 - 2nd month: ₹240 - ₹125 = ₹115 Step 4: Total p…
A microwave oven is available for ₹9600 cash or ₹4000 cash down payment and 3 monthly instalments of ₹2000 each. Find the rate of interest charged under the instalment plan.
Answer
Step 1: Total paid = ₹4000 + 3 × ₹2000 = ₹10000 Step 2: Interest paid = ₹10000 - ₹9600 = ₹400 Step 3: Principal owed each month: - 1st month: ₹9600 - ₹4000 = ₹5600 - 2nd month: ₹5600 - ₹2000 = ₹3600 -…
A computer is sold for ₹30000 cash or ₹18000 cash down payment and 6 monthly instalments of ₹2150 each. Find the rate of interest charged under the instalment plan.
Answer
Step 1: Total paid = ₹18000 + 6 × ₹2150 = ₹30900 Step 2: Interest paid = ₹30900 - ₹30000 = ₹900 Step 3: Principal owed each month: - 1st: ₹12000 - 2nd: ₹9850 - 3rd: ₹7700 - 4th: ₹5550 - 5th: ₹3400 - 6…
A ceiling fan is marked at ₹1940 cash or ₹420 cash down payment followed by three equal monthly instalments. If the rate of interest is 16% per annum, find the monthly instalment.
Answer
Step 1: Cash price = ₹1940 Step 2: Cash down payment = ₹420 Step 3: Balance = ₹1940 - ₹420 = ₹1520 Step 4: Let each instalment = ₹x Step 5: Total principal = 3 × 1520 - x(0 + 1 + 2) = 4560 - 3x Step 6…
A computer is available for ₹34000 cash or ₹20000 cash down payment together with 5 equal monthly instalments. If the rate of interest is 30% per annum, calculate the amount of each instalment.
Answer
Step 1: Balance = ₹34000 - ₹20000 = ₹14000 Step 2: Let each instalment = ₹x Step 3: Total principal = 5 × 14000 - x(0 + 1 + 2 + 3 + 4) = 70000 - 10x Step 4: Interest paid = 5x + 20000 - 34000 = 5x - 1…
A washing machine costs ₹12000. The buyer pays ₹5200 in advance and the rest in equal monthly instalments of ₹1400. The rate of interest is 12% per annum. How many instalments are paid?
Answer
Step 1: Let number of instalments = n Step 2: Interest charged = 5200 + 1400n - 12000 = 1400n - 6800 Step 3: Principal owed each month adds to ₹20000 Step 4: Use formula: Total principal × (r/100) × (…
When do you use simple interest in instalment buying? Give one worked example.
Answer
Simple interest is used for short-term monthly instalment plans, especially when the total time is less than a year. Example: A television is sold for ₹20000 cash or for ₹6000 down payment followed by…
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