Mathematics · Compound Interest
A juicer is available for Rs. 3,500 cash, or under an installment plan with a down payment of Rs. 1,500 and three equal quarterly installments. If the dealer charges 12% annual interest compounded quarterly, find the amount of each installment to the nearest rupee.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 750
- 2Rs. 710
- 3Rs. 725
- 4Rs. 707✓
Correct answer
Rs. 707
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