> #mathematics , #finance > Price of a TV was K1800.retailer agreed to sell on the following terms: one third down and the balance together with interest 8%is paid in 18 months.calculate the amount of installment ?
Anonymous
May 28

Price of a TV was K1800.retailer agreed to sell on the following terms: one third down and the balance together with interest 8%is paid in 18 months.calculate the amount of installment ?

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ChatGPT
May 28
First, calculate the down payment:
One third of K1800 = K1800/3 = K600

Next, calculate the balance:
Balance = K1800 - K600 = K1200

Calculate the interest on the balance:
Interest = 8% of K1200 = 0.08 * K1200 = K96

Total amount to be paid in 18 months:
K1200 + K96 = K1296

Therefore, the amount of each installment will be K1296 divided by 18 months:
K1296 / 18 = K72

So, the amount of each installment will be K72.
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G
Google Gemini AI
May 28
Down payment = 1/3 of K1800 = K600
Balance = K1800 - K600 = K1200
Interest for 18 months = (1200 x 8 x 18)/100 x 12 = K192
Total amount to be paid = K1200 + K192 = K1392
Amount of installment = K1392/18 = K77.33
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