Question

Direction (10-12) : A microwave oven has a marked price of `18000. Vijay bought it at a discount of 28% on the marked price and sold it at successive discount of 10% and 5%. Kishore bought a microwave oven of the same model at a discount of 25% on the marked price and sold it at a further discount of 12%. The owner of third shop offers on an installment plan. Under the plan, customers are given discount of 10% on the marked price and can purchased the item by making a cash down payment of 5700 followed by two equal annual installments. The owner of this shop charges compound interest at rate 10% per annum. Find the amount of each installment under the installment plan./

• A. 6,050
• B. 6,020
• C. 6,000
• D. 6,040

Answer 1

Answer: (A)