On 1-4-2017 the Hazarika limited purchased one machine from M/S bora brothers on hire purchase system rs 4000 was paid on signing the agreement subsequently three other instalment of rs 43,500 rs 39,000 and 34,500 were paid at the end of first, second, third year respectively to pay off the unpaid cash price of the machine along with arrear interest accuring from year to year. Ascertain the cash price of the machine and the total amount of interest paid by the purchaser, assuming that each instalment consists of equal part of capital sum plus the interest on unpaid capital pre
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On 1-4-2017 the Hazarika limited purchased one machine from M/S bora brothers on hire purchase system rs 4000 was paid on signing the agreement subsequently three other instalment of rs 43,500 rs 39,000 and 34,500 were paid at the end of first, second, third year respectively to pay off the unpaid cash price of the machine along with arrear interest accuring from year to year. Ascertain the cash price of the machine and the total amount of interest paid by the purchaser, assuming that each instalment consists of equal part of capital sum plus the interest on unpaid capital pre
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