A car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly installments. Interest is charged at 12% p.a. What is the monthly installment?

Related Mcqs:

1. The average monthly income of P and Q is Rs. 5050. The average monthly income of Q and R is 6250 and the average monthly income of P and R is Rs. 5200. The monthly income of P is____________?

   A. Rs. 3500
   B. Rs. 4000
   C. Rs. 4050
   D. Rs. 5000

2. Bilal spends 45% of his monthly income on household items, 25% of his monthly income on buying cloths, 7.5% of his monthly income on medicines and saves the remaining amount which is Rs. 9000. Find his monthly income.

   A. Rs. 40000
   B. Rs. 36000
   C. Rs. 50000
   D. Rs. 45000
   E. None of these

3. The monthly incomes of A and B are in the ratio 5 : 2. B’s monthly income is 12% more than C’s monthly income. If C’s monthly income is Rs. 15000, then find the annual income of A?

   A. Rs. 420000
   B. Rs. 180000
   C. Rs. 201600
   D. Rs. 504000
   E. None of these

4. A man saves 20% of his monthly salary. If an account of dearness of things he is to increase his monthly expenses by 20%, he is only able to save Rs. 200 per month. What is his monthly salary?

   A. Rs.5000
   B. Rs.25000
   C. Rs.7500
   D. Rs.8500

5. A, B and C enter into a partnership. They invest Rs. 40,000, Rs. 80,000 and Rs. 1,20,000 respectively. At the end of the first year, B withdraws Rs. 40,000, while at the end of the second year, C withdraws Rs. 80,000. IN what ratio will the profit be shared at the end of 3 years?

   A. 2:3:5
   B. 3:4:7
   C. 4:5:9
   D. None of these

6. A, B and C enter into a partnership. They invest Rs. 40,000, Rs. 80,000 and Rs. 1,20,000 respectively. At the end of the first year, B withdraws Rs. 40,000, while at the end of the second year, C withdraws Rs. 80,000. In what ratio will the profit be shared at the end of 3 years?

   A. 2 : 3 : 4
   B. 3 : 2 : 4
   C. 3: 2 : 1
   D. 3: 4 : 7

7. You deposit $600 into a 6 month certificate of deposit. After 6 months the balance is $618. Find the simple annual interest rate

   A. 6%
   B. 5%
   C. 7%
   D. 8%

8. A trader marked the price of a car 20% above the cost price and allowed the purchaser 5% discount on the marked price there by gained Rs.8400. Find the cost price of the car?

   A. Rs.60000
   B. Rs.75000
   C. Rs.68400
   D. Rs.78400

9. Rajan borrowed Rs.4000 at 5% p.a compound interest. After 2 years, he repaid Rs.2210 and after 2 more year, the balance with interest. What was the total amount that he paid as interest?

   A. Rs.635.50
   B. Rs.613.50
   C. Rs.675.50
   D. Rs.653.50

10. A and B started business in partnership investing Rs. 20,000 and Rs. 15,000 respectively. After six months, C joined them with Rs. 20,000. What will be B’s share in the total profit of Rs. 25,000 earned at the end of 2 years from the starting of the business?

    A. Rs. 7500
    B. Rs. 9000
    C. Rs. 9500
    D. Rs. 10,000
    E. None of these