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Iqbal buys a LCD by paying 2/5th of the amount as the basic amount and the other amount at a no-cost  EMI loan plan by paying four equal installments monthly. If the price of the LCD is Rs. 32,500, what will be the amount of each installment?

Iqbal buys a LCD by paying 2/5th of the amount as the basic amount and the other amount at a no-cost  EMI loan plan by paying four equal installments monthly. If the price of the LCD is Rs. 32,500, what will be the amount of each installment? Correct Answer None of the above

Basic amount paid by Iqbal = 32500 × (2/5) = Rs. 13000

⇒ Remaining amount to be paid = 32500 - 13000 = Rs. 19,500

∴ Amount to be paid in each loan = 19500/4 = Rs. 4875

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