Question

4. On the basis of the following information calculate periodic interest and cashprice instalments:Hire purchaser: Hariom Gupta Hire Vendor: Amit & Co.Date of agreement: 1/04/10Cash Down payment: Rs. 40,000/-Total Cash price: Rs. 148000/-No. of Installments: 3Accounting year: Financial yearevery yearTotal Hire purchase price: Rs. 1,60,000/-Amount of each installment: Rs. 40,000/-Instalment due date : 31st March​

Answer 1

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