Question

Mr. X sells his old car for RS. 1 lac to buy a new
one costing Rs.258000. He pays Rs. X as cash
and balance in instalments of Rs.7000 each for
18 months. If the rate of interest is 9%
compounded monthly. Find the value of x.
(a(18/0.0075)=16.7791)
Select one:
a. 40596
b. 40555
C. 40567
d. 40546​

Answer 1

Answer:

nanzjsbusbdudbdudbdjbdudb

Answer 2

Answer:

D

Step-by-step explanation:

cash down price= 258000-100000=158000

now,

cash down price= down payment(X) + present value of 7000 for 18 months at 9% compounded monthly

V= 7000/0.0075 [1-(1+0.0075)^-18]

V= 117454.267

Down payment(X)= 158000-117454.267=40545.7= 40546(approx)