Mr. Jain wishes to purchase a shop for ₹25,00,000 with down payment of ₹2,00,000 if he can amortize the balance at 9% per annum compounded monthly for 25 years, what will be his monthly installment if it is given that $\left(a_{\overline{300} / 0.0075}=119.1616\right)$?

₹12140.52 ₹12607.57 ₹18302.52 ₹19301.52

₹19301.52

The correct answer is Option (4) → ₹19301.52