1. A television is priced at Rs 45 000. A person who buys it outright for cash, receives a discount of 6% and a person going for an instalment plan can make a down payment of Rs 9000 and pay the remainder in 12 equal monthly instalments. A 24% annual interest rate is charged on the loan, where the interest is calculated on the reducing balance. (a) What is the total amount paid if the TV is bought outright for cash? (b) What is the total amount paid if the TV is bought on an instalment plan? (c) How profitable is it to buy the TV outright for cash than on an installment plan