A man buys a scooter on making a cash down payment of 16224 and prom – McqOptions

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1.	A man buys a scooter on making a cash down payment of 16224 and promises to pay two more yearly instalments of equivalent amount in next two years. If the rate of interest is 4% per annum, compounded yearly, the cash value of the scooter, is
A.	40000
B.	46824
C.	46000
D.	50000
Answer» C. 46000

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