Payments In Installments

Payment Panel

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.

A farmer borrows ₹ 1000 and agrees to repay with a total interest of ₹ 140 in 12 installments, each installment being less than the preceding installment by ₹10. What should be his first installment?

A farmer borrows ₹1000 and agrees to repay with a total interest of ₹140 in 12 installments, each installment being less than the preceding installment by ₹10 . What should be the first installment?

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?

Mr. Shah borrows ₹4000 and agrees to repay with a total interest of ₹500 in 10 installments, each installment being less than the preceding installment by ₹10. What should be the first and the last installment?

Mr. Shah borrows ₹4000 and agrees to repay with a total interest of ₹500 in 10 installments, each installment being less than the preceding installment by ₹10. What is the first and the last installment?