The cash price of a bed is$3000. A man buys the bed on hire purchase.

1.	The cash price of a bed is$3000. A man buys the bed on hire purchase. He pays a deposit of of$600. He then pays the balance in 12 months. Calculate the monthly installment.
Answer» Answer: TOTAL AMOUNT PAID = DEPOSIT + INSTALMENTS. TOTAL INTEREST PAID = TOTAL AMOUNT PAID – ORIGINAL PRICE OF. ITEM. The interest rate being CHARGED under a Hire Purchase AGREEMENT is.

The cash price of a bed is$3000. A man buys the bed on hire purchase. He pays a deposit of of$600. He then pays the balance in 12 months. Calculate the monthly installment.

Answer»

Answer:

TOTAL AMOUNT PAID = DEPOSIT + INSTALMENTS. TOTAL INTEREST PAID = TOTAL AMOUNT PAID – ORIGINAL PRICE OF. ITEM. The interest rate being CHARGED under a Hire Purchase AGREEMENT is.

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The cash price of a bed is$3000. A man buys the bed on hire purchase. He pays a deposit of of$600. He then pays the balance in 12 months. Calculate the monthly installment.

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