A computer whose marked price is sh. 40,000 is sold at sh. 56,000 on hire purchase terms. Mary bought the computer on hire purchase terms....

      

A computer whose marked price is sh. 40,000 is sold at sh. 56,000 on hire purchase terms. Mary bought the computer on hire purchase terms. She paid a deposit of 25% of the hire purchase and cleared the balance by equal Monthly installments of sh. 2625. Calculate the rate of interest charged per Month.

  

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Kavungya answered the question on September 16, 2019 at 10:40

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