Mathematics · Compound Interest and Installments
A car is available for ₹4,98,200 cash or ₹60,000 cash down payment followed by three equal annual instalments. If the rate of interest charged is 16% p.a., compounded yearly, then the total interest charged in the instalment plan is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹1,45,163
- 2₹1,47,136✓
- 3₹1,46,137
- 4₹1,46,314
Correct answer
₹1,47,136
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