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#1 2017-11-08 16:16:43

shakeel123
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A moneylender wanted to purchase a refrigerator. The shopkeeper w...

Law Mathematics Exams Quizzes MCQs Quizzes Law Mathematics Test 3

Question:
A moneylender wanted to purchase a refrigerator. The shopkeeper wanted either down payment of Rs. 3500 or payment of Rs. 1800 on delivery and a further payment of Rs. 1800 to be made in six equal monthly installments. If the market borrowing rate is 2 per cent (interest payable monthly) find what will be the saving in accepting the second offer.

Option A):
Nil
Option B):
36
Option C):
26
Option D):
-100

Correct Answer is Option C):
26


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2017-11-08 16:16:43

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