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Applied Mathematics · 2022 · 3 marks

CBSE 2022 · Central · Set 4 · Q10

Madhu exchanged her old car valued at ₹ 1,50,000 with a new one priced at ₹ 6,50,000. She paid ₹ x as down payment and the balance in 20 monthly…

Madhu exchanged her old car valued at ₹ $\displaystyle 1,50,000$ with a new one priced at ₹ $\displaystyle 6,50$,000. She paid ₹ x as down payment and the balance in $\displaystyle 20$ monthly equal instalments of ₹ $\displaystyle 21,000$ each. The rate of interest offered to her is $\displaystyle 9$% p.a. Find the value of x. [Given that : $\displaystyle (1.0075)^{-20}=0.86118985$]

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