Sujoy went to a mobile shop to buy a new mobile phone. The shop is running an offer which says, you can buy the mobile phone at 20,000 Rs cash or you can initially make a payment of Rs 4000 and pay 4 equal monthly installments. The rate of interest charged will be 8% pa. Find the value of installment to be paid each month.

Sujoy went to a mobile shop to buy a new mobile phone. The shop is run

1.	Sujoy went to a mobile shop to buy a new mobile phone. The shop is running an offer which says, you can buy the mobile phone at 20,000 Rs cash or you can initially make a payment of Rs 4000 and pay 4 equal monthly installments. The rate of interest charged will be 8% pa. Find the value of installment to be paid each month.
A.	Rs. 4000
B.	Rs. 4050.33
C.	Rs. 4066.01
D.	Rs. 4106.67
Answer» D. Rs. 4106.67

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