Solve this question please.....
Step by Step solution...
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Answers
ANSWER
Rs 2,52,000
Step By Step Explanation
1) OPTION A
Here,
According to Option A, we have =>
The rate of Interest, R=(9)
=()
Time, t = 5 years.
And, Balance amount after paying Rs 4,80,000 >
= Rs(19,20,000 - 4,80,000)
= Rs 14,40,000.
Now we know that =>
Simple Interest =
=>S. I =
=>S. I = Rs 6,84,000.
Hence we get the final amount to be paid in Case A after 5 years will be
Rs 6,84,000 + Rs 14,40,000.
=Rs 21,24,000
2) OPTION B
Here,
According to Option B, we have =>
Installment of each month = Rs 31,200.
Hence, the installment of 60 months will be
= Rs(60 × 31,200)
= Rs 18,72,000
Hence, on comparing Option 1 and Option 2, we can find that Option 2 is cheaper by
Rs(21,24,000 - 18,72,000)
=>Rs 2,52,000
REMEMBER
1)Simple Interest
=
2)Amount = Interest + Principle.
Yes
Step-by-step explanation:
Refer the attachment.