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Hire purchase and installments..
Accountancy
How do got the amt of bank in delhi motors a/c
Answers (2)
Cost of 3 Tempos - â?¹1.5L Down payment - â?¹30k Remaining amount - â?¹1.2L to be paid in 3 installments of â?¹40k each + interest @9%. While paying first instalment, interest would be 9% on â?¹1.2L i.e. â?¹10,800. So, Bank amount - â?¹50,800 (40k + 10,800)
