The price of a T.V. set worth Rs. 60000 is to be paid in 20 installments of Rs. 1000 each. If the rate of interest be 6% per annum, and the first installment be paid at the time of purchase, then the value of the last installment covering the interest as well will be?
Choose one
A) 22678 B) 59000 C) 26788 D) 19000 E) 26711

Rationale: "money paid in cash = rs . 1000 balance payment = ( 60000 - 1000 ) = rs . 59000 answer : b"
Answer: B