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Question

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

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

The correct option is D None of these

Money paid in cash =Rs.1000

Balance payment =Rs.(200001000)=Rs.19000


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