6. KAS Transport Ltd. purchased from Delhi Motors 3 trucks costing Rs. 50.000 each hire purchase system.
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Question:
6.KAS Transport Ltd. purchased from Delhi Motors 3 trucks costing Rs. 50.000 each
hire purchase system. Payment has to be made Rs. 30.000 down and the remainder
in three equal annual instalments together with interest at 9%. Calculate interest for
each car.
7.A Machine costing Rs. 50,000 was purchased on hire purchase basis. Rs. 10,000
was paid on signing the agreement and the balance in four equal instalments of
Rs. 10,000 each annually with interest at 5%. Calculate interest and show the amount
payable on each instalment.
Related Book For
Financial Accounting Volume II
ISBN: 9789387886230
4th Edition
Authors: Mohamed Hanif, Amitabha Mukherjee
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