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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.
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