Posted by **Anonymous** on Sunday, February 24, 2013 at 2:29am.

A person buys a refrigerator for rupees 12000. He pays rupees 6000 in cash and agrees to pay the balance in 12 annual instalments of rupees 500 each. If the rate of interest is 12% and he pays it with instalments on the unpaid amount,

how much did the refrigerator cost him

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