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

Rs. 1050

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Rs. 2050

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Rs. 3000

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None of these

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Solution

The correct option is D None of these
Money paid in cash $= R s . 1000$
Balance payment $= R s . (20000 - 1000) = R s . 19000$

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

The correct option is D None of theseMoney paid in cash =Rs.1000Balance payment =Rs.(20000−1000)=Rs.19000

The correct option is D None of these
Money paid in cash $= R s . 1000$
Balance payment $= R s . (20000 - 1000) = R s . 19000$