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Hire purchase

In hire purchase, if they gave amounts as instalments , from that we will find INTEREST & PRINCIPAL.. """"But how they I'll fix those instalment amount"""" What is the logic or calculation behind that..??


CA Suryaa

CA Suryaa

CA Inter

0

07-May-20 17:19

19

Answers (1)

It is a backward calculation. The last payment will include interest and opening principal. Using that logic you can do the computation.


Suraj Lakhotia

Suraj Lakhotia

Admin

08-May-20 21:14

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