Simple Interest - Quantitative Aptitude (MCQ) questions for Q. 28474

Q.  A TV can be bought for Rs. 20000 cash or by paying in four equal monthly installments with an initial down payment of Rs. 4000. If the rate of interest for this facility is 8% per annum, then what would be the installment charged for each month?
- Published on 15 Mar 17

a. Rs. 4000
b. Rs. 4106.67
c. Rs. 4050.33
d. Rs. 4066.01

ANSWER: Rs. 4066.01
 
simple interest
simple interest

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