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Interest

An article ca...

Question

An article can be sold for 20000 cash or for 12000 down payment and 4 equal monthly instalments of 2200 each. Find the interest paid.

A

400

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B

600

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C

800

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D

1000

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Solution

The correct option is C 800
With the downpayment option, total amount paid for article $= R s 12000 + 4 (2200) = R s 20800$
But actually SP of article $= R s 20000$
So, interest paid $= R s 20800 - 20000 = R s 800$

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