hire purchase

Cash Price: RM 60,000

Deposit: RM 20,000

Interest: 10% p.a.

Payable: 24 monthly instalments

The instalment paid was RM_______

• 1,667.67

• 1,833.33

• 2,000.00

• 2,200.00

Cash Price: RM 2,200

Down Payment: RM 800

Instalment: 18 monthly instalments of RM 150 each.

The total interest on hire purchase was RM____.

• 1,300

• 800

• 500

• 300

Cash Price: RM 40,000

Deposit: 10% of the cash price

Interest: 8% p.a.

Payable: 5 years of equal monthly instalments

What was the hire purchase price???????

• RM 36,000

• RM 40,000

• RM 50,400

• RM 54,400

Cash Price: ??????????????

Down Payment: RM 8,000

Interest: 6% p.a.

Instalment: 50 monthly instalments of RM 1,200 each.

• RM 68,000

• RM 60,000

• RM 56,000

• RM 48,000

Cash Price: RM 8,100

Deposit: RM 2,430

Interest: 8% p.a.

Payable: 18 monthly instalments, commencing on 1 Sep 2003

What is the net balance of Hire Purchase Vendor account shown in the Statement Of Financial Position as at 31 December 2003

• RM 3,780

• RM 4,032

• RM 4,158

• RM 4,410

Hire purchase price includes

• Cash price and interest

• Cash price and down payment

• Down payment and interest

• Total Price

Angelique wants to buy a microwave on a hire purchase agreement. The cash price of the microwave is R4 400

R4 400. She is required to pay a deposit of 10%

10% and pay the remaining loan amount off over 12

12 months at an interest rate of 9%

9% p.a.

What is the principal loan amount?

• R 4 400

• R 3 9600

• R 440

• R 3690

Angelique wants to buy a microwave on a hire purchase agreement. The cash price of the microwave is R4 400

R4 400. She is required to pay a deposit of 10%

10% and pay the remaining loan amount off over 12

12 months at an interest rate of 9%

9% p.a.

What is the accumulated loan amount?

• R 3 960

• R 4 400

• R 4 316,40

Angelique wants to buy a microwave on a hire purchase agreement. The cash price of the microwave is R4 400

R4 400. She is required to pay a deposit of 10%

10% and pay the remaining loan amount off over 12

12 months at an interest rate of 9%

9% p.a.

• R 359,70

• R 4 400

• R 3690

Kyle wants to buy a television on a hire purchase agreement. The cash price of the television is R5 600

R5 600. She is required to pay a deposit of 15%

15% and pay the remaining loan amount off over 24

24 months at an interest rate of 14%

14% p.a.

What is the principal loan amount?

• R 5 600

• R 860

• R 4 760

• R 840