15 * 950 = 14250
14950 - 9000 = 4250
14950 - 9000 = 4250
The total cost of the gas cooker is sh. 9000, and the customer paid it off in 15 monthly installments of sh. 950 each.
To find the carrying charge, we need to calculate the difference between the total cost and what the customer paid. So, let's do some calculations:
Total cost = sh. 9000
Total paid = 15 installments x sh. 950 = sh. 14250
Now, subtract the total paid from the total cost:
Carrying charge = Total paid - Total cost
Carrying charge = sh. 14250 - sh. 9000
Carrying charge = sh. 5250
So, it looks like the customer ended up paying a carrying charge of sh. 5250 for the convenience of those monthly installments. But hey, at least they can now cook up a storm without having to break the bank all at once!
The total amount paid in monthly installments can be calculated by multiplying the monthly installment amount (sh. 950) by the number of installments (15):
Total amount paid = Monthly installment amount * Number of installments
= 950 * 15
= sh. 14,250
Since the cash price of the gas cooker is sh. 9000, the carrying charge can be calculated by subtracting the cash price from the total amount paid:
Carrying charge = Total amount paid - Cash price
= 14,250 - 9000
= sh. 5,250
Therefore, the carrying charge for the gas cooker is sh. 5,250.