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Calculate cost of car to Bank Islami

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Reference no: EM132925269

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

Required -

a. Calculate cost of car to Bank Islami.

b. Calculate selling price.

c. Calculate the amount of four equal installments payable quarterly.

Reference no: EM132925269

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