Mathematics · Installments
A washing machine, whose cash price is ₹15,000, is purchased under an installment plan. A cash down payment of ₹2,250 is made, followed by two equal half-yearly installments. If the interest is charged at the rate of 8% per annum compounded half-yearly, find the amount of each installment.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹6,840
- 2₹6,860
- 3₹6,740
- 4₹6,760✓
Correct answer
₹6,760
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