Investors of RIL have a chance to buy RIL shares at Rs 1,257 as compared to its present

market price of Rs 1,433. Existing shareholders who held RIL shares in their demat account on

May 14 are eligible to apply for the issue in 1:15 ratio. This means for every 15 shares held by

them they can apply for one share at Rs 1,257 apiece. Also, you do not have to pay the entire Rs

1,257 at one go. At the time of application, you have to pay 25% of the amount i.e. Rs 314.25,

another 25% of the amount i.e. will be paid by the investor in May 2021 (after 12 months)and

the remaining 50% i.e. Rs 628.50 will be paid in November 2021(after 18 months) on-call by the

company.If discount rate is 10% what will be effective cost for this plan?