Question

The price of a T.V set worth Rs. 20, 000 is to be paid in 20 instalments of Rs 1000 each. if the rate of interest be 6% per annum and the first instalment be paid at the time of purchase, then the value of the last instalment covering the entire interest as well will be ______________

• A. Rs 1050
• B. Rs 2050
• C. Rs 3000
• D. None of these

Answer 1

The correct option is D None of these

Given The price of a T.V set worth Rs. 20, 000 is to be paid in 20 installments of Rs 1000 each
Then amount paid in installment =20000-1000=19000 RS
SO intt on 19000=$\frac{19000\times 6}{100\times 12}=95$
Or intt on 18000=$\frac{18000\times 6}{100\times 12}=90$
Or intt on 17000=$\frac{17000\times 6}{100\times 12}=85$
So intt on installments is (95,90,85,80,75...........5)
So total interest=$\frac{18}{2}(2\times 5+(18-1\left)5\right)=9(10+90)=945$Rs
Then last installments isRs 1000+945=1945 Rs