A man buys a laptop at Rs. 18,000. He pays Rs.6,000 at once and the rest after 18 months on which he is charging a simple interest at the rate of 15% per annum. The total amount he pays for the laptop is
Total Price of the Laptop = Rs.18,000 Initial Payment = Rs.6,000 Remaining Amount = Rs.12,000 Simple Interest in 18 months for Rs. 12,000 Simple Interest = (12000 ×15 ×18)/(100 ×12) = Rs. 2,700 With S.I, the total amount to be paid for Principal Amount, 12000 = 12000 + 2700 = Rs.14,700 Therefore, total amount he pays for the Laptop is = 14700 + 6000 = Rs.20,700
Fill in the blanks with appropriate words/phrases from the options.
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