Question

A car is available for ₹ 4.98.200 cash or ₹ 60,000 cash down payment followed by three equal annual instalments. If the rate of interest charged is 16% p.a., compounded yearly, then the total interest charged in the instalment plan is:

A ₹1,46,314
B ₹1,47,136
C ₹1,45,163
D ₹1,46,137
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