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Calculate the amount of four equal installments payable

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Question - Pak Suzuki is providing 800 cc Car for Rs; 500,000 in Islamabad city. Mr. Mammon contacted BankIslami, Islamabad branch for the provision of the car on installments payable quarterly within one year period. BankIslami is charging 12% profit per annum on Murabaha of cars.

Required -

a. Calculate cost of car to BankIslami.

b. Calculate selling price.

c. Calculate the amount of four equal installments payable quarterly (i) using conventional calculation method (ii) using simple calculation method.

Reference no: EM132924387

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