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1. Life Mathematics
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Q6 of 94 Page 37

The cost of a dining table is Rs. 8,400. Venkat wants to buy it in 10 instalments. If the company offers it for a S.I. of 5% p. a., find the E.M.I. and the total amount paid by him.

Cost price of dining table = 8,400

No. of installments = 10


So, n = years


Rate of Interest = 5%


Interest = p× N ×


= × 8,400 ×


= 350


Total amount to be paid = interest + cost price


= 350 + 8,400


= 8,750


E.M.I =


=


= 875


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1. Life Mathematics
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