A person borrowed ₹15 lakh for 5 years at 7% per annum simple interest. If he wants to repay the total amount in equal monthly instalments, find the monthly instalment.

Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM

Options

1. (A) ₹32,600
2. (B) ₹44,000
3. (C) ₹33,750
4. (D) ₹41,640

Verified Answer

Option (C): ₹33,750

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