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Dr.nande purchased a car on installment system form maruti Ltd on 1st January 2016 the cash value of the car was RS 17000 an amount of RS 5000 is to be paid on singing the a contract and the balance in three equal installments of RS 5000 each payable annually on 31st December.?
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Dr.nande purchased a car on installment system form maruti Ltd on 1st ...
Installment System for Purchasing a Car
Introduction:
Dr. Nande purchased a car on installment system from Maruti Ltd on 1st January 2016. The cash value of the car was Rs. 17000.
Payment Terms:
An amount of Rs. 5000 was to be paid on signing the contract and the balance was to be paid in three equal installments of Rs. 5000 each payable annually on 31st December.
Explanation:
1. Payment of Rs. 5000 on Signing the Contract:
Dr. Nande paid Rs. 5000 on signing the contract to confirm his purchase of the car.
2. Balance Payment in Three Equal Installments:
The remaining balance of Rs. 12000 was to be paid in three equal installments of Rs. 5000 each. The installments were payable on 31st December every year.
3. Annual Payment:
Dr. Nande had to pay the first installment of Rs. 5000 on 31st December 2016, the second installment of Rs. 5000 on 31st December 2017, and the final installment of Rs. 2000 on 31st December 2018.
Conclusion:
The installment system for purchasing a car is a convenient way for customers to make a purchase without having to pay the full amount upfront. It allows customers to pay in installments over a period of time, making it easier for them to manage their finances. However, it is important to read and understand the terms and conditions of the installment system before making a purchase.
Introduction:
Dr. Nande purchased a car on installment system from Maruti Ltd on 1st January 2016. The cash value of the car was Rs. 17000.
Payment Terms:
An amount of Rs. 5000 was to be paid on signing the contract and the balance was to be paid in three equal installments of Rs. 5000 each payable annually on 31st December.
Explanation:
1. Payment of Rs. 5000 on Signing the Contract:
Dr. Nande paid Rs. 5000 on signing the contract to confirm his purchase of the car.
2. Balance Payment in Three Equal Installments:
The remaining balance of Rs. 12000 was to be paid in three equal installments of Rs. 5000 each. The installments were payable on 31st December every year.
3. Annual Payment:
Dr. Nande had to pay the first installment of Rs. 5000 on 31st December 2016, the second installment of Rs. 5000 on 31st December 2017, and the final installment of Rs. 2000 on 31st December 2018.
Conclusion:
The installment system for purchasing a car is a convenient way for customers to make a purchase without having to pay the full amount upfront. It allows customers to pay in installments over a period of time, making it easier for them to manage their finances. However, it is important to read and understand the terms and conditions of the installment system before making a purchase.
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Dr.nande purchased a car on installment system form maruti Ltd on 1st January 2016 the cash value of the car was RS 17000 an amount of RS 5000 is to be paid on singing the a contract and the balance in three equal installments of RS 5000 each payable annually on 31st December.?
Question Description
Dr.nande purchased a car on installment system form maruti Ltd on 1st January 2016 the cash value of the car was RS 17000 an amount of RS 5000 is to be paid on singing the a contract and the balance in three equal installments of RS 5000 each payable annually on 31st December.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Dr.nande purchased a car on installment system form maruti Ltd on 1st January 2016 the cash value of the car was RS 17000 an amount of RS 5000 is to be paid on singing the a contract and the balance in three equal installments of RS 5000 each payable annually on 31st December.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Dr.nande purchased a car on installment system form maruti Ltd on 1st January 2016 the cash value of the car was RS 17000 an amount of RS 5000 is to be paid on singing the a contract and the balance in three equal installments of RS 5000 each payable annually on 31st December.?.
Dr.nande purchased a car on installment system form maruti Ltd on 1st January 2016 the cash value of the car was RS 17000 an amount of RS 5000 is to be paid on singing the a contract and the balance in three equal installments of RS 5000 each payable annually on 31st December.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Dr.nande purchased a car on installment system form maruti Ltd on 1st January 2016 the cash value of the car was RS 17000 an amount of RS 5000 is to be paid on singing the a contract and the balance in three equal installments of RS 5000 each payable annually on 31st December.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Dr.nande purchased a car on installment system form maruti Ltd on 1st January 2016 the cash value of the car was RS 17000 an amount of RS 5000 is to be paid on singing the a contract and the balance in three equal installments of RS 5000 each payable annually on 31st December.?.
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