Payments In Installments

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Amrinder, Mahinder and Joginder are partners in a firm. Mahinder retires from the firm. On his date of retirement, Rs. 60,000 becomes due to him. Amrinder and joginder promise to pay him in instalments every year at the end of the year. Prepare Mahinder's Loan Account in the following cases: 1. When payment is made four yearly instalments plus interest @ 12% p.a. on the unpaid balance.

Babubhai borrows Rs. 4,000 and agrees to repay with a total interest of Rs. 500 in 10 instalments, each instalment being less than the preceding instalment by Rs. 10. What should be the first and the last instalment?

A cycle costs Rs. 1500. If Rs 350 was paid as case payment and Rest amount was to be paid in 3 monthly installment of Rs. 400 . Find the Rate of Interest.