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Question
A mobile phone is available for a cash price of 1200 or for a certain down payment followed by three equal instalments of 300 each. The total interest paid is 100 when bought under the instalment scheme. How much is the down payment for the mobile phone?
A mobile phone is available for a cash price of 1200 or for a certain down payment followed by three equal instalments of 300 each. The total interest paid is 100 when bought under the instalment scheme. How much is the down payment for the mobile phone?
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Solution
The correct option is D 400
Let the downpayment be x
Total amount paid will be =Cost+Interest=Downpayment+Installments
=>1200+100=x+3(300)
=>x=Rs400
Let the downpayment be x
Total amount paid will be =Cost+Interest=Downpayment+Installments
=>1200+100=x+3(300)
=>x=Rs400
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