Cash price to the buyer, if he pays by cash:
The cash price would be 10% less than the retail price of $4,500:
Cash price = $4,500 - (10% * $4,500)
Cash price = $4,500 - $450
Cash price = $4,050
Amount payable:
If the buyer chooses to purchase the TV on higher purchase, the amount payable would be the sum of the down payment and the total amount of monthly installments:
Amount payable = Down payment + (24 * Monthly installment)
Amount payable = $675 + (24 * $212.50)
Amount payable = $5,175
Outstanding balance:
The outstanding balance would be the difference between the amount payable and the down payment:
Outstanding balance = Amount payable - Down payment
Outstanding balance = $5,175 - $675
Outstanding balance = $4,500
Hire purchase price:
The hire purchase price would be the sum of the down payment and the outstanding balance:
Hire purchase price = Down payment + Outstanding balance
Hire purchase price = $675 + $4,500
Hire purchase price = $5,175
Interest:
The interest charged on the hire purchase would be the difference between the hire purchase price and the cash price:
Interest = Hire purchase price - Cash price
Interest = $5,175 - $4,050
Interest = $1,125
Difference between the hire purchase and the cash price:
The difference between the hire purchase price and the cash price would be the interest charged:
Difference = Interest
Difference = $1,125
Percentage interest charged:
To calculate the percentage interest charged, we can divide the interest by the hire purchase price and multiply by 100:
Percentage interest charged = (Interest / Hire purchase price) * 100
Percentage interest charged = ($1,125 / $5,175) * 100
Percentage interest charged = 21.74%
Therefore, the cash price to the buyer is $4,050, the amount payable is $5,175, the outstanding balance is $4,500, the hire purchase price is $5,175, the interest charged is $1,125, the difference between the hire purchase and the cash price is $1,125, and the percentage interest charged is 21.74%.