arun,
If you definitely intend to buy a Swiss Pass which includes your day of arrival, then no problem just buying tickets Paris to Basel. But if you don't, the extra cost of buying Paris to Interlaken will be less than the cost of a separate ticket from Basel to Interlaken.
"so i may need to purchase a 1 day travel pass for either 16/20th." - or just buy a ticket Paris to Interlaken.
But, are you actually staying in Interlaken, or somewhere further into the hills (Mürren, Lauterbrunnen, etc.)? If yes, it is a ticket to your actual destination you need to buy.
"The current price in the system (Paris - Basel, no stop, TGV) is 157 Euro. This is for 2 adults and 2 kids. Is this a good price to lock the tickets?" - sounds OK, prices never go down, only up, so go for it.
Note, this will not be "non stop", some trains stop at Dijon or Belfort, and they all stop at Mulhouse. Mulhouse is only 30 minutes before Basel. I once had to stop a pair of tourists getting off at Mulhouse thinking it was Basel. The fact that it said "Mulhouse" on the platform, and all the signs and adverts were in French instead of German did not register, I think they were very tired!