Rehmat Islamic Bank sells a generator under a Murabaha contract which it acquired for Rs 1,000,000. The terms of the contract require that instalment are due over a period of three years. The annual instalment payment is Rs 400,000. At the time of sale, the cash equivalent price of the generator was 1,050,000. What amount will the bank recognise as deferred profit at the time of the sale?

a. Rs 200,000

b. Rs 50,000

c. Rs 150,000

d. Rs 100,000