A microwave oven costs Rs. $4,000$ . However, Dilip decided to pay an E.M.I of Rs. $200$ at the rate of $10 %$ p.a. How many months will it take to pay the full price of the oven?

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Solution

$\Rightarrow$ Cost price of oven is $R s .4, 000$
$\Rightarrow$ $I n t e r e s t = \frac{P \times R \times T}{100}$

$\Rightarrow$ $I n t e r e s t = \frac{4000 \times 10 \times 1}{100} = R s .400$
$\Rightarrow$ Full price of oven = $R s .4000 + R s .400 = R s .4400$ .
$\Rightarrow$ Months required to pay full price of oven = $\frac{F u l l p r i c e}{E . M . I} = \frac{4400}{200} = 22$

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A microwave oven costs Rs. 4,000. However, Dilip decided to pay an E.M.I of Rs. 200 at the rate of 10% p.a. How many months will it take to pay the full price of the oven?

⇒ Cost price of oven is Rs.4,000⇒ Interest=P×R×T100⇒ Interest=4000×10×1100=Rs.400⇒ Full price of oven = Rs.4000+Rs.400=Rs.4400.⇒ Months required to pay full price of oven = FullpriceE.M.I=4400200=22

A microwave oven costs Rs. $4,000$ . However, Dilip decided to pay an E.M.I of Rs. $200$ at the rate of $10 %$ p.a. How many months will it take to pay the full price of the oven?