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A sewing machine costs₹ 20,000. A custom...

A sewing machine costs₹ 20,000. A customer brought it at a down payment of₹ 5000 and paid the remaining amount in three equal installments. If the rate of compound interest be per `12(1)/(2)%` anmum, find the amount of each instalment?

A

₹ 7,001

B

₹6,992

C

₹6,997.8

D

₹6,299

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The correct Answer is:
D
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