Math MCQ: A computer is available for Rs. 39000 cash or Rs. 17000 as cash down payment followed by five monthly instalments of Rs. 4800 each. What is the rate of interest under the instalment plan?

A computer is available for Rs. 39000 cash or Rs. 17000 as cash down payment followed by five monthly instalments of Rs. 4800 each. What is the rate of interest under the instalment plan?

Correct Answer: 38.71 % p.a.

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