Answer:
A bed room set is being sold for $5500 if bought cash. The set can be bought on hire purchase by making a down payment of $1500 followed by 24 months payments of $175 each. Calculate:
the total installments paid
24 ($175) = $4200
the hire purchase price
$1500 + $4200 = $5700
the amount saved by paying cash.
$5700 - $5500 = $200 saved by paying cash
Dion bought a new keyboard on hire-purchase. The cash price was $2400. He paid a 25% deposit followed by 24 monthly payments of $120 each. Calculate
the amount of the deposit paid
$2400 * .25 = $600
the total monthly payments made
$120 * 24 = $2880
the hire purchase price
$600 + $2880 = 3480
the difference between the cash price and the hire purchase price:
$3480 - $2400 = $1920
Mr. Baker bought a gas stove on hire-purchase. The cash price was $850. H
is 15% deposit followed by 18 monthly payments of $42 each.
amount of deposit paid: $ 850 * .15 = $127.50
total monthly payments: $42 * 18 = $756
hire purchase price: $127.50 + $756 = 977.50
difference between cash price and hire purchase price:
$883.50 - $850 = $33.50
***since the last one didn't have extra info to ask...I used the same information from the 2nd one***
Explanation: