Percentages - Hire Purchase and Instalments
Percentages - Hire Purchase and Instalments
IP 2
3 marks
The cash price of a fridge is \( \$1870 \).
The hire-purchase price of the fridge is \( \$2107 \).
The hire-purchase price is a deposit of \( 10\% \) of the cash price plus \(12\) equal monthly payments.
Calculate one monthly payment.[3]
Solution:
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Answer:Monthly payment: \(\$160\)
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