Question

A table which has a cash price of $780 may be bought on hire purchase by making a deposit of 20 % of the cash price and a fixed amount monthly over a few months. If the total amount paid for the item is $3,756, which of the following could possibly be the monthly instalment and the number of months taken to pay for this item?

Answer 1

Explanation:

You will need to include the options.

20% of $780 was the deposit

20/100 x 780 =$156

Dposit made was $156

Deduct $156 from the total amount paid

$3756 - $156 = $3600

Pick the option that best splits $3600 into a fixed amount and calculate the number of months.