Question

A person wants to purchase a motor cycle. He has two alternatives for the payment. It costs ₹ 40,000 if full payment is made at the time of purchase. Other alternative is to pay the cost in 4 years by monthly installment, starting with ₹ 500 in the first month and increasing the value of
the installment by ₹ 20 every succeeding month. What is the extra payment in the installment scheme ?​

Answer 1

Answer:

the extra payment is 6560