Chapter 9. Instalment Buying NIOS Class 10 Mathematics Chapter-Wise Important Questions and Answers
Chapter 9. Instalment Buying | NIOS Class 10 Mathematics Important Questions, Fully Solved Answers, and Chapter-wise Exam Preparation Guide.
Chapter 9. INSTALMENT BUYING
Chapter 9. Instalment Buying
Optional Questions and Answers for Algebraic Expressions and Polynomials [1 Mark]
CHECK YOUR PROGRESS 3.1
Short Questions and Answers for Algebraic Expressions and Polynomials [1 or 2 Marks]
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Long Questions and Answers for Algebraic Expressions and Polynomials [ 3 or 4 Mark]
CHECK YOUR PROGRESS 9.1
1. A table is sold for Rs 2000 cash or for Rs 600 as cash down payment, followed by Rs 1500 paid after 2 months. Find the rate of interest charged under the instalment plan.
Solution: The cash price of the table = Rs 2000
Cash down payment = Rs 600
Balance to be paid = Rs(2000 – 600) = Rs 1400
∴ The present value of Rs. 1400 to be paid after 2 months = Rs. 1500
Time = 2 month
=212=16 yrs
Let the rate of interest per annum under instalment plan is r%, then
1400+1400×r100×16=1500 
⇒1400+14r6=1500 
⇒14r6=1500-1400 
⇒7r3=100 
⇒r=100×37=3007 
⇒r=42.86 % 
So, the rate of interest charged under the installment plan is approximately 42.86% per annum.
2. A cycle is sold for Rs 2700 cash or Rs 600 as cash down payment, followed by 3 monthly instalments of Rs 750 each. Find the rate of interest charged under the instalment plan.
Solution: Cash price of the cycle = Rs 2700
Cash down payment = Rs 600
Payment in 3 instalments = Rs (750 × 3) = Rs 2250
Total amount paid under instalment plan = Rs (600 + 2250) = Rs 2850
∴ Interest paid = Rs(2850 – 2700) = Rs 150
The Principal for the first month = Rs (2700 – 600) = Rs 2100
Principal for the 2nd month = Rs (2100 – 750) = Rs 1350
Principal for the 3rd month = Rs (1350 – 750) = Rs 600
Total principal (for 1 month) = Rs (2100+1350+600) = Rs 4050
Let the rate of interest per annum under instalment plan is r%, then
4050×r×112100=150 
⇒405r10×12=150 
⇒r=150×10×12405
⇒r=300×1281=100×49=4009
⇒r=4449% 
Posted 1 month ago