Neeraj buys a bike on making a cashdown payment of Rs. 17,496 and promises to pay two more yearly installments of equivalent amount in next two years. If the rate of interest is 8% per annum compounded yearly, the cash value of the bike is (in Rs.): (a) Rs. 45,676 (b) Rs. 48,696 (c) Rs. 50,676 ...
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