A T.V. can be purchased for Rs 24000 cash or for Rs 8000 cashdown payment and six monthly instalments of Rs 2800 each. Ali goes to market to buy TV under instalment scheme or to make cash payment by taking loan from some finanancial society. The society charges simple interest at the rate of `18%` per annum simple interest. Which option is better for Ali?

In the problem below, show the different stages of mathematical modelling for solving the problem:- A T.V. can be purchased for ₹24000 cash or for ₹8000 cashdown payment and six monthly instalments of ₹2800 each. Ali goes to market to buy a T.V., and he has ₹8000 with him. He has now two options. One is to buy TV under instalment scheme or to make cash payment by taking loan from some financial society. The society charges simple interest at the rate of 18% per annum simple interest. Which option is better for Ali?

Juhi wants to buy a bicycle. She goes to the market and finds that the bicycle she likes is available for ₹1800. Juhi has ₹ 600 with her. So, she tells the shopkeeper that she would not be able to buy it. The shopkeeper, after a bit of calculation, makes the following offer. He tells Juhi that she could take the bicycle by making a payment of ₹600 cash down and the remaining money could be made in two monthly instalments of ₹610 each. Juhi has two options one is to go for instalment scheme or to make cash payment by taking loan from a bank which is available at the rale of 10% per annum simple interest. Which option is more economical to her?