Dipti has purchased one Machine on hire purchase agreement. The cash price of machine is Rs. 90000. The amount is to be paid on agreement Rs. 30000 and balance amount is paid by three equal annula instalments of Rs. 30000 each. Find out the intrest of third year.

Related MCQs

• Paid Rs. 7000 at the time of contract. Four annula instalments were paid respectively Rs. 7800 , Rs. 6200, Rs. 4700, Rs. 3300. Rate of intrest is 10% Find cash price.
• According to hire purchase agreement Rs. 25000 is the down payment and Rs. 90000 is the total amount of three equal instalments inclusive of interest Rs. 15000. How much would be the cash price of the asset ?
• The main difference between sale under Hire purchase agreement and sales under Installment system is regarding
• Which of the following is not included in the hire purchase agreement ?
• Interest is calculated on                 under hire purchase agreement.
• Interest is calculated on                 under hire purchase agreement.
• Under hire-purchase system the amount of interest is charged to                 Account
• By deducting cash price from the contract price of assets, the difference of the amount is called
• Total amount payable less its cash price is equal to              -
• Total amount payable less its cash price is equal to -