Question

A car is available for 200000 cash or 50000 down payment followed by 16 equal monthly instalments. If the total interest charged in this scheme is 10000, how much is each monthly installment?

• A. 16000
• B. 10000
• C. 13000
• D. 20000

Answer 1

The correct option is B 10000

Let the instalment be $x$
Total amount paid will be $=Cost+Interest=Downpayment+Installments$
$=>200000+10000=50000+16\left(x\right)$
$=>x=Rs10000$