Total cost of the computer = Tk. 39000
Down payment = Tk. 17000
Balance = Tk. (39000 - 17000) = Tk. 22000.
Let the rate of interest be R% p.a.
Amount of Tk. 22000 for 5 months
= {22000 + 22000 × (5/12) × R/100}
= {22000 + (275R/3)}
The customer pays the shopkeeper Tk. 4800 after 1 month,
Tk. 4800 after 2 months, ...... and Tk. 4800 after 5 months.
Thus, the shopkeeper keeps Tk. 4800 for 4 months, Tk. 4800 for 3 months, Tk. 4800 for 2 months, Tk. 4800 for 1 months and Tk. 4800 at the end.
∴ sum of the amounts of these installments
= (Tk. 4800 + S.I. on Tk. 4800 for 4 months) + (Tk. 4800 + S.I. on Tk. 4800 for 3 months) + ...... + (Tk. 4800 + S.I. on Tk. 4800 for 1 month) + Tk. 4800
= Tk. (4800 × 5) + S.I. on Tk. 4800 for (4 + 3 + 2 + 1) months
= Tk. 24000 + S.I. on Tk. 4800 for 10 months
= 24000 × 4800 × R × (10/12) × (1/100)
= (24000 + 40 R)
∴ {22000 + (275R/3)} = (24000 + 40 R)
⇒ 155R/3 = 2000
⇒ R = (2000 × 3)/155
= 38.71