Question

    X acquired a car on hire purchase basis and made a down

    payment of Rs. 1,00,000. Subsequent payments to be made are Rs. 2,63,000, Rs. 1,85,000, and Rs. 1,14,000 at the end of 1st year, 2nd year, and 3rd year respectively. Interest is charged @ 14% per annum. Calculate cash price.
    A Rs. 5,13,000 Correct Answer Incorrect Answer
    B Rs. 5,52,000 Correct Answer Incorrect Answer
    C Rs. 6,62,000 Correct Answer Incorrect Answer
    D Rs. 5,50,000 Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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