Percentages - Percentages involving Finances: Profit and Loss

Percentages - Percentages involving Finances: Profit and Loss

IP 1
7 marks

Sharon is planning to buy a car.

  1. The car would cost \(\$148,000\) after a \(12\%\) discount. Find the original price of the car, giving your answer to the nearest dollar.

    [2]
  2. The total cost of manufacturing the car is \(\$90,000\). Calculate the percentage profit made when the car was sold to Sharon at the discounted price.

    [2]
  3. The company offers Sharon a hire-purchase scheme; a \(30\%\) downpayment and subsequent payments of \(\$2000\) monthly for a period of \(5\) years. Calculate the additional cost Sharon would have to pay if she took up the hire-purchase scheme.

    [3]

Solution:

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Answer:(i) \(\$168\,182\) (ii) \(64.4\%\) (iii) \(\$16\,400\)

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