Ankush wanted to purchase a LCD (TV) and went to a Showroom. He found that LCD with marked price of Rs. 30,000/-, is available with Cash payment alongwith 5% discount or for Rs. 5000 as cash down payment followed by 3 equal monthly installments with interest at the rate of 10% per month. Find the difference in amount payable under the two schemes.



Scheme one

30,000*95/100 (5% discount)

scheme two-

down payment =5,000

total sum left=30,000-5,000=25,000

Simple interest(S.I)=(Principle Amount*rate*time)/100


Therefore total amount that would be paid =25,000+7,500+5,000

Therefore difference is 38,000-28,500=9,500

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