Question

Vipul purchases a car for Rs. 5,50,000. He gets a loan of Rs. 5,00,000 at 15%p.a. from a Bank and
balance Rs. 50,000 he pays at the time of purchase. He has to pay the whole amount of loan in 12
equal monthly instalments with interest starting from the end ofthe first month. The money he has to pay at the end of every month is : [ Given (1.0125)12 = 1.16075452]
1) 45,130.43
2) 45230.43
3) 45330.43
4) none of these
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Answer 1

Answer:

45230.43 is the answer