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Two families buy new refrigerators using installment plans. Family A m 12 Jan 2020, 07:43
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Family A: 250 Family B: 160
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Project IR Butler 2019-20 - Get one IR Question Everyday
Question # 104, Date : 12-Jan-2020
This post is a part of Project IR Butler 2019-20. Click here for Details

Two families buy new refrigerators using installment plans. Family A makes an initial payment of $750. Family B makes an initial payment of $1200. Both families make five additional payments to pay off the balance. Both families pay the same amount for their refrigerators including all taxes, fees, and finance charges.

In the table below, identify a monthly payment, in dollars, for Family A and a monthly payment, in dollars, for Family B that are consistent with the installment plan described above. Make only one selection in each column.
Family A Family B
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250
300
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Family A: 250 Family B: 160
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Two families buy new refrigerators using installment plans. Family A m 12 Jan 2020, 07:48
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A's monthly installment -A
B's monthly installment -B
5A-5B= 1200-750
A-B=90
So per the options A can be 250
B can be 160

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Two families buy new refrigerators using installment plans. Family A m 12 Jan 2020, 12:53
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750 + 5A = 1200 + 5B
5A - 5B = 450
A - B = 90

Only possible option is A=250 and B = 160
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Two families buy new refrigerators using installment plans. Family A m 28 Oct 2020, 10:16
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750+5x=1200+5y;
5x-5y=450;
x-y=\(\frac{450}{5}\);
x-y=90;
Therefore, the differences between the two values has to be 90.

On going through the options, the only possible values are 250 and 160.
So family A made 5 payments of 250$ each and family B made 5 payments of 160$ each.
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Two families buy new refrigerators using installment plans. Family A m 26 May 2024, 03:13
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