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Compute the amount of interest and total cash price

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Question - X Ltd. purchased a machine on hire purchase basis from Y Ltd. on the following terms:

(a) Cash Down payment- 1,58,500

(b) Four instalments of 2,21,900, 2,06,050, 1,90,200 and 1,74,350 at the end of the 1 st year, 2 nd year, 3 rd year and 4 th year respectively.

(c) The payment of cash price in each instalment is uniform.

Compute the amount of interest and total cash price of the machine.

Reference no: EM132962064

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