Question

24) A house you want to purchase costs
219,20,000. But you do not have the
entire amount now. The company that
sells the house offers two kinds of
instalment plans. Option A: You have to
pay 4,80,000 now and the balance
amount after 5 years with an interest at
the rate of 85% per year. Option B: You
have to pay 34,80,000 now and the
balance in 60 monthly instalments of
31.200 each. Calculate the total
amount paid in each plan. Which option
is cheaper, and by how much?​

Answer 1

Answer:

option b is the correct