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.
A) Rs. 3000
B) Rs. 4000
C) Rs. 4500
D) Rs. 5000
Correct Answer:
Verified
Q6: Which account is to be prepared to
Q7: Bad Debt Return is to be credited
Q8: Generally, depreciation on fixed assets is calculated
Q9: Why opening statement of affairs is prepared?
A)To
Q10: Total amount payable less its cash price
Q12: At the end of the year, the
Q13: Paid Rs. 7000 at the time of
Q14: Interest is calculated on_ under hire purchase agreement.
A)Cash
Q15: In case of Hire purchase, the depreciation
Q16: According to hire purchase agreement Rs. 25000
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