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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 ?
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
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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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