Question

A television sells for $550 instead of paying theu total amount at the time of the purchase. the same television can be bought paying $50 down and $50 a month for 14 months. how much is saved by paying the total amount at the time of the purchase

Answer 1

Given data:

The original amount of television is T=$550.

The initial amount to be paid is i=$50.

The installment for the television is a=$50.

The expression for the amount paid by all 14 installment including initial amount is,

`P=i+14a`

Substitute the given values in the above expression.

`\begin{gathered} P=50+14(50) \\ =750 \end{gathered}`

The amount saved by paying original amount at the time of purchase is,

`\begin{gathered} s=P-i \\ =750-550 \\ =200 \end{gathered}`

Thus, $200 is saved by paying original amount at the time of purchase.