How much less would your payments be if you were able to save Rs2100 as a down payment before you purchase the new equipment?

Section B (2 Mark)

To pay for new equipment with a cash price of Rs7500, you need to borrow at 5.3% compounded monthly, then make monthly payments for 32 months.

How much less would your payments be if you were able to save Rs2100 as a down payment before you purchase the new equipment?
A . Rs.269.47
B . Rs.198.96
C . Rs.70.51
D . Rs.88.14

Answer: C