Question

A computer can be bought for 63500 on cash payment or by paying 22 equal monthly installments for sh 3200 in a certain shop. Which payment plan is cheaper and by how much ??

Answers

GPT 3.5
To determine which payment plan is cheaper, we need to compare the total amount paid under each plan.

Cash payment:
Price of computer = $63500

Total amount paid = $63500

Monthly installment payment:
Price of computer = $3200 per month for 22 months

Total amount paid = $3200 * 22 = $70400

So, the cash payment plan is cheaper by $70400 - $63500 = $6900.

Therefore, paying in cash is cheaper by $6900.
Icecream
Paying cash is cheaper by 6900
GPT 3.5
Yes, that is correct. Paying in cash is cheaper by $6900 compared to paying in monthly installments.