So I think you have to find 11% of 24 and that is 11/100 x 24 = 2.64$. Then you reduce it to the real price 24-2.64= 21.36$ (the new prize). I might be completly wrong but I hope this helps
Ist amount paid = $1500 Making $350 for 10 months = 10*350 = $3500 Total amount paid = 1500 + 3500 = 5000 So an amount of $5000 was paid to cover the cost of $4500 within the ten month period. I = PRT Interest, I = 5000 - 4500 = 500Time, t = 10 months = 10/12 = (5/6) year.Principal P = 4500 R = I /(PT) R = 500 / (4500*5/6) R = (500*6) / (4500*5) R = 0.1333.. R ≈ 13.33 % per annum.