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.

Answer rating: 100% (QA)

Lets calculate the interest for each car in both scenarios Question 6 KAS Transport Ltd purchased 3 ... View the full answer