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Harry buys a TV priced at £1200 plus 20% VAT. He pays £300 deposit and the balance in ten equal monthly payments. Calculate each monthly payment. please explain fully in parts.

User HischT
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1 Answer

4 votes

Answer:

114 monthly payment

Explanation:

1200 + 20%= 1440 (20% of 1200 equals 240)

the VAT has to be added to the purchase price.

1440 is the total price he had to pay for the tv.

he pays 300 down. 1440-300 = 1140

1140 is the remaining balance he had to pay over the next 10 month.

1140 ÷ 10 = 114

divide 1140 by 10 payments and you receive you monthly payment amount. 114

User THpubs
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