The price of a T.V. set worth Rs. 10000 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?\nOptions:\n(A) 9000\n(B) 26699\n(C) 96000\n(D) 19000\n(E) 26711
Please answer and provide answer explanation.
(A)
Money paid in cash = Rs.

1000\nBalance payment = (10000 - 1000) = Rs.

9000.

The answer is (A)