The price of a T.V. set worth 20,000 is to paid in 20 instalments of 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 interest as well will be :  Answers
A) 1050 B) 2050 C) 3000 D) None of these E) 2020
Money paid in cash = 1000.   Balance payment = (20000 – 1000) = 19000.   Answer None of these
<result>D</result>
The price of a T.V. set worth 20,000 is to paid in 20 instalments of 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 interest as well will be :