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<ol class="i-list"><li><div class="list-item-content"><span class="list-item-text">Haley buys a refrigerator with the price of $\$4\,050$ on hire purchase with a down payment (in percentage) and the remaining to be paid in monthly instalments over $12$ months at a simple interest rate of $20\%$ per annum. Given that her monthly instalment is $\$324$, find Haley’s down payment in percentage of the total price.</span></div></li><li><div class="list-item-content"><span class="list-item-text">Alex buys a TV with the price of $\$4\,000$ on hire purchase with a down payment of $10\%$ and the remaining to be paid in monthly instalments over $12$ months at a simple interest rate of $15\%$ per annum. Find Alex’s monthly instalment.</span></div></li><li><div class="list-item-content"><span class="list-item-text">Lucas buys a personal computer on hire purchase with a down payment of $20\%$ and the remaining to be paid in monthly instalments over $24$ months at a simple interest rate of $10\%$ per annum. Given that Lucas’ monthly instalment is $\$126$, find the price of the personal computer.</span></div></li></ol>

Haley buys a refrigerator with the price of $\$4\,050$ on hire purchase with a down payment (in percentage) and the remaining to be paid in monthly instalments over $12$ months at a simple interest rate of $20\%$ per annum. Given that her monthly instalment is $\$324$, find Haley’s down payment in percentage of the total price.

Alex buys a TV with the price of $\$4\,000$ on hire purchase with a down payment of $10\%$ and the remaining to be paid in monthly instalments over $12$ months at a simple interest rate of $15\%$ per annum. Find Alex’s monthly instalment.

Lucas buys a personal computer on hire purchase with a down payment of $20\%$ and the remaining to be paid in monthly instalments over $24$ months at a simple interest rate of $10\%$ per annum. Given that Lucas’ monthly instalment is $\$126$, find the price of the personal computer.

Simple Interest

Hire Purchase and Instalments

Rate

Percentages

<ol class="i-list"><li data-list-item-id="item-1760771815007-sq8s0121g" data-list-item-path="item-1760771815007-sq8s0121g"><div class="list-item-paragraph">Haley buys a refrigerator with the price of $\$4\,050$ on hire purchase with a down payment (in percentage) and the remaining to be paid in monthly instalments over $12$ months at a simple interest rate of $20\%$ per annum. Given that her monthly instalment is $\$324$, express Haley’s down payment as a percentage of the total price of the refrigerator.</div></li><li data-list-item-id="item-1760771815645-8lh56b4t6" data-list-item-path="item-1760771815645-8lh56b4t6"><div class="list-item-paragraph">Alex buys a TV with the price of $\$4\,000$ on hire purchase with a down payment of $10\%$ and the remaining to be paid in monthly instalments over $12$ months at a simple interest rate of $15\%$ per annum. Find Alex's monthly instalment.</div></li><li data-list-item-id="item-1760771816110-gukdqncbe" data-list-item-path="item-1760771816110-gukdqncbe"><div class="list-item-paragraph">Lucas buys a personal computer on hire purchase with a down payment of $20\%$ and the remaining to be paid in monthly instalments over $24$ months at a simple interest rate of $10\%$ per annum. Given that Lucas’ monthly instalment is $\$126$, find the price of the personal computer.</div></li></ol>

IP1U8 HOT Q2

<p>Thomas bought a dining table set through hire purchase. After paying the deposit, he had to pay $\$260$ per month for&nbsp;$1$ year.</p>
<ol class="abc-list"><li><div class="list-item-paragraph">If a simple interest rate of $4\%$ was charged on the outstanding balance, what was the total interest payable?</div></li><li><div class="list-item-paragraph">If Thomas paid a deposit of $\$420$, find the cash price of the dining table set.</div></li></ol>

Thomas bought a dining table set through hire purchase. After paying the deposit, he had to pay $\$260$ per month for $1$ year.

IP1U8 Exercise Q10

<p>Mr Wong bought a TV set which was priced at $\$3885$ by hire purchase. He was required to pay a sum of $\$210$ each month for&nbsp;$1.5$ years. What was the simple interest rate per annum if he only paid $\$350$ as downpayment?</p>

Mr Wong bought a TV set which was priced at $\$3885$ by hire purchase. He was required to pay a sum of $\$210$ each month for $1.5$ years. What was the simple interest rate per annum if he only paid $\$350$ as downpayment?

IP1U8 Exercise Q9

<p>A computer can be either bought at a cash price of ${\$3460}$ or on hire purchase at a downpayment of ${\$500}$ and monthly instalments at a rate of ${12\%}$ per annum for&nbsp;${15}$ months.</p>
<ol class="i-list"><li><div class="list-item-content"><span class="list-item-text">Find the total instalment amount.</span></div></li><li><div class="list-item-content"><span class="list-item-text">Find the hire purchase price.</span></div></li><li><div class="list-item-content"><span class="list-item-text">If one is to buy the computer at the cash price, express the savings as a percentage of the cash price.</span></div></li></ol>

A computer can be either bought at a cash price of ${\$3460}$ or on hire purchase at a downpayment of ${\$500}$ and monthly instalments at a rate of ${12\%}$ per annum for ${15}$ months.

If one is to buy the computer at the cash price, express the savings as a percentage of the cash price.

IP1U8 8.3.5 Worked Example 1

<p>Three furniture shops, $X$, $Y$ and $Z$, offer the following hire purchase schemes for a particular sofa set.</p>
<div class="content-block content-block--table"><div class="table-container"><table style="width: 100%;"><thead><tr><th style="text-align: center; --cell-justify: center"><p>Shop $X$</p></th><th style="text-align: left; --cell-justify: flex-start"><p>${15\%}$ discount off the cash price of ${\$3280}$</p><p>${20\%}$ deposit with ${1.5}$ years' instalments of ${\$180}$/month</p></th></tr></thead><tbody><tr><td style="text-align: center; --cell-justify: center"><p>Shop $Y$</p></td><td style="text-align: left; --cell-justify: flex-start"><p>Cash price of ${\$3028}$</p><p>${25\%}$ deposit with ${2}$ years' instalments of ${\$130}$/month</p></td></tr><tr><td style="text-align: center; --cell-justify: center"><p>Shop $Z$</p></td><td style="text-align: left; --cell-justify: flex-start"><p>Cash price of ${\$3012}$</p><p>${35\%}$ deposit with ${2.5}$ years' instalments of ${\$90}$/month</p></td></tr></tbody></table></div></div>
<ol class="i-list"><li><div class="list-item-paragraph">Which shop should Mr Chen buy the sofa set from? Explain your answer by showing your working clearly.</div></li><li><div class="list-item-paragraph">How much would Mr Chen save if he were to pay cash for the sofa set from the shop in <strong>(i)</strong>?</div></li></ol>

Three furniture shops, $X$, $Y$ and $Z$, offer the following hire purchase schemes for a particular sofa set.

Percentages involving Finances: Discount

IP1U8 8.3.5 PN1 Q2

<p>A refrigerator was priced at $\$4200$. Mrs Tan paid $30\%$ as downpayment and the outstanding balance in equal monthly instalments for&nbsp;$2$ years. If a simple interest rate of $4\%$ per annum was charged on the outstanding balance, find</p>
<ol class="i-list"><li><div class="list-item-paragraph">the downpayment,</div></li><li><div class="list-item-paragraph">the monthly instalment,</div></li><li><div class="list-item-paragraph">the total hire purchase price.</div></li></ol>

A refrigerator was priced at $\$4200$. Mrs Tan paid $30\%$ as downpayment and the outstanding balance in equal monthly instalments for $2$ years. If a simple interest rate of $4\%$ per annum was charged on the outstanding balance, find

IP1U8 8.3.5 PN1 Q1

<ol class="abc-list"><li><div class="list-item-paragraph">A television set is priced at $\$9500$.</div><div class="list-item-paragraph">The price is inclusive of $8\%$ Goods and Services Tax (GST).</div><div class="list-item-paragraph">Calculate the price of the television set before GST, correct to the nearest dollar.</div><p style="text-align: right;">[1]</p></li><li><div class="list-item-paragraph">Mr Tan bought it on a hire purchase scheme.</div><div class="list-item-paragraph">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.</div><p style="text-align: right;">[3]</p></li></ol>

Percentages involving Finances: GST

2023 AISS EM S1 EOY P1 Q7

<ol class="abc-list"><li><div class="list-item-paragraph">The cash price of a bed is $\$888$. Joey buys this on an instalment plan. She pays a deposit of one sixth of the cash price. She then pays ${13}$ monthly payments of $\$60$. Calculate the total amount Joey pays for the bed.<span class="inline-marks">[2]</span></div></li><li><div class="list-item-paragraph">Ben pays a monthly rent of $\$3440$. This is $7.5\%$ more than his monthly rent last year.</div><div class="list-item-paragraph">Calculate his monthly rent last year.<span class="inline-marks">[2]</span></div></li><li><div class="list-item-paragraph">The exchange rate between Singapore dollars ($\$$) and euros (€) is $\$1=$€$0.675$. John spends €${350}$ in Paris to buy a bag. Calculate the cost of the bag, in Singapore dollars, correct to the nearest cent.<span class="inline-marks">[2]</span></div></li></ol>

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