Answer to Question #242343 in Financial Math for Beant

Question

Laptops shangai computer purchased 20 laptops from a Chinese computer manufacturers shangai paid the bill after 45days paying a finance charges of 150 if the Chinese company charges 10%interest find the cost of 20 laptops

Answer 1

Time period in years $=45days/30days=1/8$

Interest, I =PRT

$P=\frac{I}{R\times T}=\frac{150}{(10/100\times 1/8)}=150/0.0125=\$12,000$

The original cost of 20 laptops excluding interest is $\$12,000$