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?
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?
✅ Correct Answer: (D)
rs. 4066.01