Question

A customer buys a car for ₹7,50,000. He paid $\frac{1}{5}$th of the amount initially and agreed to pay the remaining amount in 10 monthly instalments. How much does he pay each month?

• A. ₹65,000
• B. ₹60,000
• C. ₹55,000
• D. ₹68,000

Answer 1

The correct option is B ₹60,000

Total price of the car = ₹7,50,000
Initial payment by the customer
= $\frac{1}{5}$th of ₹7,50,000
= $\frac{1}{5}\times$ 7,50,000 = ₹1,50,000

Remaining amount to be paid
= ₹7,50,000 - ₹1,50,000
= ₹6,00,000

∵ ₹6,00,00 is to be paid in 10 monthly instalments.

So, amount paid in each month
= $\frac{6,00,000}{10}$
= ₹60,000

Hence, the customer pays ₹60,000 each month.