Mr. X purchased a cycle on hire purchase for Rs.1000 to be paid as fol

1.	Mr. X purchased a cycle on hire purchase for Rs.1000 to be paid as follows:1)On signing the agreement Rs.120, 2) At the end of the first year Rs.170, 3)At the end of the second year Rs.160, 4)At the end of the last year Rs.550. The vendor charged interest at 10% p .a on the cash value remaining unpaid each year. Calculate the cash value of the cycle.
Answer» ANSWER: HIRE PURCHASE SYSTEM A trader COULD sell goods either for cash or for credit. For goods SOLD ... Calculate the interest for each year. 2. ... The cash price of the machine was Rs.15,000.

Mr. X purchased a cycle on hire purchase for Rs.1000 to be paid as follows:1)On signing the agreement Rs.120, 2) At the end of the first year Rs.170, 3)At the end of the second year Rs.160, 4)At the end of the last year Rs.550. The vendor charged interest at 10% p .a on the cash value remaining unpaid each year. Calculate the cash value of the cycle.

Answer»

HIRE PURCHASE SYSTEM A trader COULD sell goods either for cash or for credit. For goods SOLD ... Calculate the interest for each year. 2. ... The cash price of the machine was Rs.15,000.

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