Heena bought a car worth Rs3 lakhs.If she pays in installments of Rs20,000 monthly, how many months will it take to complete the payment?

15 months

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17 months

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25 months

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12 months

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Solution

The correct option is A 15 months
Heena bought a car worth Rs 3 lakhs on loan. If she pays a monthly instalment of Rs 20,000, how many months will it take to complete the payment?

C.P of Heena’s car = Rs 3 lakhs = Rs 3,00,000

Monthly instalment = Rs 20,000

Number of months in which the payment will be completed is= $\frac{T o t a l c o s t o f t h e c a r}{M o n t h l y i n s t a l m e n t}$

$3, 00, 000 \div 20, 000$

$\frac{3, 0 / 0, / 0 / 0 / 0}{2 / 0, / 0 / 0 / 0} = \frac{30}{2} = 15$

Answer: A 15 months

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