A man purchased a cycle for Rs.3000/- and agreed to pay 12% on the amount as interest. He repaid principal and interest in 12 equal monthly installments. Find the amount of each installment.
By selling a used phone for Rs.6,160 Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?