Question
A Motorbike can be purchased on cash payment of Rs.
30000. But the same Motorbike can also be purchased on the cash down payment of Rs 7000 and the rest can be paid in three equal annual installments of Rs. 8000 for next three years. Find the rate of simple interest?Solution
Cash Price=30000 Less Cash Down Payment = (7000) Balance= 23000 First Installment= (8000) Balance= 15000 Second Installment= (8000) Balance= 7000 Third Installment= (8000) Balance= (1000) Now Interest on First year = (23000 × r ×1 )/100 Interest on Second year = (15000 × r ×1)/100 Interest of Third year = (7000 × r ×1 )/100 Now, according to the question (23000 × r ×1 )/100+ (15000 × r ×1)/100+ (7000 × r ×1 )/100=1000 (1000r (23+15+7))/100=1000 45r/100=1 r= 100/45=2(2/9)%
What is the validity period of a Shelf Prospectus as per the Companies Act?
According to Indian Partnership Act, 1932 partner making, for the purposes of the business, any payment or advance beyond the amount of capital he has ...
Which of the following is a key role of the Controller of Certifying Authorities under the IT Act, 2000?
Under the Code of Criminal Procedure, 1973, security for good behaviour from the persons disseminating seditious matters can be demanded by:-
What are damages?
In tort law, which of the following is an essential element of negligence?
IPC delas with kidnapping___________
The President shall cause to be laid the recommendations of the Finance Commission along with the explanatory memorandum before________________
A witness may:
What must a party do if they intend to challenge an arbitrator and there is no agreement on the matter?
Relevant for Exams:
