Directions: Mohan wants to buy a TV which is priced at Rs. 45000. The TV is also available under three schemes. Under scheme 1, Mohan will have to pay a down payment Rs. 10000 and monthly installments of Rs. 1583 per month for 2 years. Under the second scheme, Mohan has to pay a down payment of Rs. 15000 and a monthly installment of Rs. 1055 per month for three years. Under the third scheme, Mohan has to repay it in three annual installments which are in arithmetic progression at an interest rate of 10%. Mohan has only Rs. 5000 with him and he wishes to borrow the balance money for the down payment from Punjab Indian Bank. If less than Rs. 5000 is borrowed for a period of 12 months, the rate of interest is 30%. The interest will be applicable on the whole amount for the whole year. For example, if Rs. 500 is borrowed then, the installment per month will be Rs. 54.16 (Rs. 500 is the principle and Rs. 150 is the interest charged). If more than Rs. 5000 is borrowed for 1 year, the rate of interest is 25% and is calculated in the exact manner as shown above.