A television set is priced at $\$9500$. The price is inclusive of $8\%$ Goods and Services Tax (GST)

Question

A television set is priced at $\$9500$. The price is inclusive of $8\%$ Goods and Services Tax (GST). Calculate the price of the television set before GST, correct to the nearest dollar. [1] Mr Tan bought it on a hire purchase scheme. He paid a downpayment of $15\%$ and will pay the remaining in $18$ monthly instalments, at a simple interest rate of $2\%$ per year. Calculate the monthly instalment he has to pay, correct to the nearest cent. [3]

Accepted Answer

(a) $\$8796$ (b) $\$462.07$

2023 AISS EM S1 EOY P1 Q7

2023 AISS EM S1 EOY P1 Q7

Video Solution:

Solution:

Solution locked