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Find out effective rate of interest

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Mr. Alok wants to buy a car. The invoice price is Rs. 240,000.Mr. Alok can pay Rs. 28,375 as downpayment. A finance company offers him a hire purchase deal of repayment in 30 months, the flat rate being 6.497%. Find out Effective rate of Interest.

Reference no: EM131082520

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Find out effective rate of interest : A finance company offers him a hire purchase deal of repayment in 30 months, the flat rate being 6.497%. Find out Effective rate of Interest.
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