Cash Payment and Installment Calculation

Oct 13, 2025 by recoveryshake.com 68 views

**Karan's Father Purchased a House: A Cash Payment and Installment Calculation**

Understanding the Problem

Karan's father purchased a house for ₹54,000. To make the payment, he made a cash payment of 40% of the cost and paid the rest amount in 5 equal installments. In this article, we will calculate the amount of money paid as cash and the amount paid in each installment.

Calculating the Cash Payment

To calculate the cash payment, we need to find 40% of the total cost of the house.

Total cost of the house = ₹54,000
Cash payment = 40% of ₹54,000
Cash payment = (40/100) × ₹54,000
Cash payment = ₹21,600

So, Karan's father paid ₹21,600 as cash.

Calculating the Amount Paid in Each Installment

To calculate the amount paid in each installment, we need to find the remaining amount after the cash payment.

Remaining amount = Total cost - Cash payment
Remaining amount = ₹54,000 - ₹21,600
Remaining amount = ₹32,400

Since the remaining amount is to be paid in 5 equal installments, we can calculate the amount paid in each installment as follows:

Amount paid in each installment = Remaining amount / Number of installments
Amount paid in each installment = ₹32,400 / 5
Amount paid in each installment = ₹6,480

So, Karan's father paid ₹6,480 in each installment.

Q&A

Q: What is the total cost of the house? A: The total cost of the house is ₹54,000.

Q: How much cash was paid by Karan's father? A: Karan's father paid ₹21,600 as cash.

Q: How much amount was paid in each installment? A: Karan's father paid ₹6,480 in each installment.

Q: What is the remaining amount after the cash payment? A: The remaining amount after the cash payment is ₹32,400.

Q: How many installments were paid by Karan's father? A: Karan's father paid 5 installments.

Q: What is the percentage of cash payment made by Karan's father? A: Karan's father made a cash payment of 40% of the total cost of the house.

Conclusion

In this article, we calculated the amount of money paid as cash and the amount paid in each installment by Karan's father. We also answered some frequently asked questions related to the problem. We hope this article helps you understand the concept of cash payment and installment calculation.

Frequently Asked Questions

Q: What is the formula to calculate the cash payment? A: The formula to calculate the cash payment is: Cash payment = (Percentage of cash payment / 100) × Total cost.
Q: What is the formula to calculate the amount paid in each installment? A: The formula to calculate the amount paid in each installment is: Amount paid in each installment = Remaining amount / Number of installments.
Q: What is the formula to calculate the remaining amount? A: The formula to calculate the remaining amount is: Remaining amount = Total cost - Cash payment.

Related Topics

Cash Payment and Installment Calculation
Percentage Calculation
Simple Interest Calculation

References

[1]: "Cash Payment and Installment Calculation". Wikipedia.
[2]: "Percentage Calculation". Khan Academy.
[3]: "Simple Interest Calculation". Investopedia.