Hire purchase

A _______________ comes with a down payment and monthly installments.

• Selling price

• Hire Purchase plan

• Interest

• Discount

If a hire purchase plan is not done, then the person must buy the item in full ______________.

• Credit

• Loan

• Discount

• Cash

The formula to find hire purchase price is:

• H.P = (cash price + Installments)

• H.P = (Discount + cash price)

• H.P = (Down-payment + installments)

• H.P = (Cash price - Down-payment)

A Television can be bought on hire purchase with a down payment of $800 and 20 monthly installments of $275. What is the hire purchase price?

• $6300

• $5500

• $3,450

• $6800

A Television can be bought for $5,300 cash or hire purchase with a down payment of $800 and 20 monthly installments of $275. Give the difference between the H.P price and the cash price.

• $6000

• $300

• $1300

• $1000

To buy a new TV on Hire Purchase, Michael must pay a £50 deposit and 10 monthly payments of £15. How much will he pay in total for the TV?

• £200

• £515

• £50

• £650

Sarah wants to buy a chair using Hire Purchase. She pays £37 deposit and 5 monthly payments of £20. How much does she pay in total?

• £137

• £285

• £57

• £80

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

A washing machine can be bought on hire purchase terms of a deposit of $768 and 12 monthly payments of $74. What is the total hire purchase price?

• $854

• $888

• $1566

• $1656

The hire purchase cost of a radio is $6355. If the deposit is a $1000 and the balance is to be paid in 9 equal installments, each installment will be

• $595

• $635.50

• $706.10

• $817.20