0.12 Manoj purchased a house paying Rs. 5,00,000 down and promising to pay Rs. 20,000 every 3 months for next 10
years. The seller charged interest at the rate of 6% per annum compounded quarterly. If M missed the first 12 payments,
what must he pay at the time the 13th is due to bring him upto date?
Steps are required.
a. Rs. 2,84,736.59
b. Rs. 2,85,750
C. Rs. 2,80,000
d. Rs. 3,20,000.59
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Answer:
c is the correct answer
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