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A bicycle can be bought for sh 4500 cash or 12equal monthly installments of sh 400 calculate the carrying charges?
Edward Yayi
Apr 29
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A bicycle can be bought for sh 4500 cash or 12equal monthly installments of sh 400 calculate the carrying charges?
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Apr 29
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To calculate the carrying charges, we need to find the total amount paid for the bicycle in both scenarios and then find the difference.
1. Cash payment:
Total amount paid = sh 4500
2. Monthly installments:
Total amount paid = 12 installments x sh 400 = sh 4800
Carrying charges = Total amount paid in installments - Cash payment
Carrying charges = sh 4800 - sh 4500
Carrying charges = sh 300
Therefore, the carrying charges for buying the bicycle in monthly installments is sh 300.
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Google Gemini AI
Apr 29
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Total cost of the installments = 12 x 400 = 4800
Carrying charges = 4800 - 4500 =
300
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