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The cash price of a television set is Ksh 25,000. A customer paid a deposit of Ksh 3,750. He repaid the amount owing in 24 equal monthly installments.

Class: Form 3

Subject: Mathematics

Topic: Commercial Arithmetic 2

Lesson Summary

The cash price of a television set is Ksh 25,000. A customer paid a deposit of Ksh 3,750. He repaid the amount owing in 24 equal monthly installments. If was charged simple interest at the rate of 40% p.a,how much was each installment?



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