Answer: a. 13120
b. 4100
c. 1025
d. 3280
Step-by-step explanation:
(a) find the costs price of the fridge
Since the cash price is 20% less the hire purchase price, then the cost of the fridge will be:
= (100% - 20%) × 16400
= 80% × 16400
= 0.8 × 16400
= 13120
(b) calculate the deposit
Since 25% is paid as deposit, the deposit will be:
= 25% × 16400
= 0.25 × 16400
= 4100
(c) what is the monthly installments
Monthly installments will be:
= (16400 - 4100)/12
= 12300/12
= 1025
(d) what is the differences between the cash price and the hire purchase price.
This will be:
Hire purchase price = 16400
Cash price = 13120
= 16400 - 13120
= 3280
