Question

A machinery was purchased on Hire Purchase System. Its cash price was 5,20,000 which was payable in annual instalments of 1,80,000 each including interest @ 15 per cent per annum. The amount of interest included in 2nd instalment would be ………………………………………………..


A.78,000
B.51,000
C.67,200
D.62,700​

Answer 1

Answer:

It Should be 51,000( I am not Sure)

Explanation:

1. if you dont know how to calculate intrest use this formula Amount×percent Given÷10
2. Hope This will be Helpful to You

Answer 2

Answer:

62,700

Explanation:

Machinery price 5,20,000 and Int rate 15% p.a

So Interest calculation =Rs.5,20,000* 15% = Rs.78000 Interest

First year prenium = Principal + Interest

1,80,000 = 102000+78000 (as per above workings)

Second year balance amt.5,20,000- 1,02,000(1st year principal)= 4,18,000

Second year interest = 4,18,000*15% = 62,700/-