The price of a T.V. set worth Rs. 40000 is to be paid in 20 installments of Rs. 2500 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? Choose the most appropriate option
A) 29997	B) 28088	C) 27098	D) 37500	E) 2799
Money paid in cash = Rs. 2500   Balance payment = (40000- 2500) = Rs. 37500.   Answer:37500
<result>D</result>
The price of a T.V. set worth Rs. 40000 is to be paid in 20 installments of Rs. 2500 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?