Question

се
14) A housing company has quoted 19,20,000
for a new flat in one of their buildings.
The company that sells the house offers two
kinds of instalment plans. Option A: Make an
initial payment of 4,80,000 and pay the balance
amount after 5 years with an interest at the rate
1
of 9 - %
per year. Option B: Make an initial
2.
payment of 4,80,000 and pay the balance in
60 monthly instalments of 331,200 each.
Calculate the total amount paid in each plan.
Which option is cheaper, and by how much?​

Answer 1

$\huge\boxed{\fcolorbox{black}{yellow}{ANSWER..}}$

option A : 1920000-480000 = 1440000

Interest = 1440000* 19/2 * 5/100

= 6,84000

Total = 480000+1440000+684000

= 2604000

option B : 480000+(60*31200)

= 2352000

So, option B is cheaper by 252000.