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Question

A car is available for 200000 cash or 50000 down payment followed by 16 equal monthly instalments. If the total interest charged in this scheme is 10000, how much is each monthly installment?
  1. 16000
  2. 10000
  3. 13000
  4. 20000

A
16000
B
20000
C
10000
D
13000
Solution
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Let the instalment be x

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