on 1st January,2016 ,a limited company obtained a machine on the hire purchase system, the total amount payable being ₹23000 .payment was to be made ₹3000.down and the balance in four annual installments of ₹5000 each.interest was charged at the rate of 10%p.a. Find out the cash price of the machine
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I think 22000 is the answer
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