Question
Quantitative Ability and Data Interpretation Question on SI & CI
A computer is sold either for Rs.19200 cash or for Rs.4800 cash down payment together with five equal monthly installments. If the rate of interest charged is 12% per annum, then the amount of each installment (nearest to a rupee) is:
A
Rs.2880
B
Rs.2965
C
Rs.2896
D
Rs.2990
E
Rs.3016
Answer
Rs.2965
Explanation
Solution
The correct option is (B): Rs.2965.