Question
A pressure cooker is sold for Rs 600 cash or Rs 300 cash down payment followed by Rs 310 after one month. The annual rate of interest is(1) $40 \%$(2) $30 \%$(3) $33 \%$(4) $20 \%$
Step 1
The balance amount is the cash price minus the down payment. In this case, the cash price is Rs 600 and the down payment is Rs 300. So, the balance amount is Rs 600 - Rs 300 = Rs 300. Show more…
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