Question

The cash price of a television is $580.

The hire-purchase price of the television is $865.
The hire-purchase price is an initial deposit of n% of the cash price and 6 equal monthly payments of $120.
Find the value of n.​

Answer 1

n=25% or 0.25

Explanation:

865= 580(n%)+ 6(120)

865= 580 (n%) +720

865-720= 145

145= 580(n%)

divide both by 580, you get 0.25=n%