Question

‘X’ purchases a 5 years lease for Rs.10, 000 and arranges for its renewal by means of insurance policy, the annual premium being Rs. 1,850. The value of the policy increases each year by 4%.Show the necessary accounts (Policy Account) for 5 years. Presuming that the renewal of the lease costs Rs. 9,500.

Answer 1

Answer:

sorry I'm weak in mathematics

Answer 2

Answer:

Explanation:

The renewal cost would be 33.33.