I am trying to buy a new Mobile phone in a shop, but I don't have enough money to buy it as cash. He offered me something else called Monthly premium.
This Monthly premium is good for me, but the price of the stuff is higher than if I buy it as a cash.
If I buy as a cash, it'll cost $550 otherwise, it costs $600 if I get it through monthly premium (I'll pay $100 monthly)
Is this $50 considered Riba or not ?