Given the stream of consciousness rationale, provide a reasonable question and answer. Rationale: Money paid in cash = Rs. 750
Balance payment = (8000- 1000) = Rs. 7250
The question and answer:
The price of a T.V. set worth Rs. 8000 is to be paid in 20 installments of Rs. 750 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?
Options:
(A) 7250
(B) 7200
(C) 7820
(D) 6000
(E) 2799
The answer is (A)