A farmer buys a used tractor for Rs. 12,000. He pays Rs. 6,000 cash and agrees to pay the balance in annual installments of Rs. 500 plus 12% interest on the unpaid amount. How much will the tractor cost him? - Clay6.com, a Free resource for your JEE, AIPMT and Board Exam preparation

A farmer buys a used tractor for Rs. 12,000. He pays Rs. 6,000 cash and agrees to pay the balance in annual installments of Rs. 500 plus 12% interest on the unpaid amount. How much will the tractor cost him?