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Question
Kumar bought a transistor for Rs. 960. He paid 12 % cash money. The rest he agreed to pay in 12 equal monthly instalments. How much will he pay each month?
Solution
Price of transistor = Rs. 960
Amount paid in cash = `12 1/2%` of Rs. 960
`= 25/(2 xx 100) xx 960` = Rs. 120
Balance amount = Rs. 960 - Rs. 120
Rs. 840
No. of instalments = 12
∴ Amount of each instalment = Rs. 840 ÷ 12 = Rs. 70
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