Consumer Arithmetic - Wages and Hire Purchase

A _______________ comes with a down payment and monthly installments.

• Selling price

• Hire Purchase plan

• Interest

• Discount

Tags

CCSS.7.RP.A.3

CCSS.7.RP.A.2

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)

Tags

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

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

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.NS.A.1

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

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.NS.A.1

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

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.NS.A.2

Cash Price: $ 2,200

Down Payment: $ 800

Installment: 18 monthly instalments of$ 150 each.

The total interest on hire purchase was $____.

• 1,300

• 800

• 500

• 300

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.RP.A.3

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

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.NS.A.1

CCSS.7.NS.A.2

You are making $780 per week. How much will you earn in a year?

• $45,060

• $20,280

• $40,560

• $9360

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.3

CCSS.7.NS.A.2

Sam owns a T-shirt printing business. His expenses are $4 per shirt. Sam sells each shirt for $10. He sold 327 shirts last month. How much total profit did Sam make on T-shirts last month?

• $1,962

• $327

• $1,308

• $989

Tags

CCSS.7.EE.B.3

Under hire purchase system the initial payment is known as

• First instalment

• Down payment

• Purchase price

• Hire charges