6. The marked price of a car is $49 500. A personcan pay a deposit of 30% and interest at 12%per annum is charged on the outstanding bal-ance. The total amount payable is to be paid inyears.Calculate:(a) the amount of each monthly instalment(b) the hire purchase price of the car.7. The retail price of a television set is $2500. Ifthe buyer pay cash, the price is 10% below theretail price. If the set is bought on hire pur-chase, the buyer pays a downpayment of $500and 18 monthly instalments of $150.190(a) Determine the difference between the hirepurchase price and the cash price.(b) Calculate the difference as a percentage ofthe retail price.Chapter 5Consumer Arithmetic(a11.

“Since you have posted multiple questions, we will provide the solution only to the first question…

6. The marked price of a car is $49 500. A person can pay a deposit of 30% and interest at 12% per annum is charged on the outstanding bal- ance. The total amount payable is to be paid in 22/12/20 years. Calculate: (a) the amount of each monthly instalment (b) the hire purchase price of the car.

6. The marked price of a car is $49 500. A person can pay a deposit of 30% and interest at 12% per annum is charged on the outstanding bal- ance. The total amount payable is to be paid in 22/12/20 years. Calculate: (a) the amount of each monthly instalment (b) the hire purchase price of the car.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

6. The marked price of a car is $49 500. A person
can pay a deposit of 30% and interest at 12%
per annum is charged on the outstanding bal-
ance. The total amount payable is to be paid in
years.
Calculate:
(a) the amount of each monthly instalment
(b) the hire purchase price of the car.
7. The retail price of a television set is $2500. If
the buyer pay cash, the price is 10% below the
retail price. If the set is bought on hire pur-
chase, the buyer pays a downpayment of $500
and 18 monthly instalments of $150.
190
(a) Determine the difference between the hire
purchase price and the cash price.
(b) Calculate the difference as a percentage of
the retail price.
Chapter 5
Consumer Arithmetic
(a
11.

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