Hire Purchase Quiz 1

A Laptop can be bought on hire purchase by making a deposit of $1000 and 24 monthly installments of $250 each. What is the down payment?

A Laptop can be bought on hire purchase by making a deposit of $1000 and 24 monthly installments of $250 each. How often will payments be made?

• Weekly

• Monthly

• Yearly

A Laptop can be bought on hire purchase by making a deposit of $1000 and 24 monthly instalments of $250 each. How many installments must be made?

A Laptop can be bought on hire purchase by making a deposit of $1000 and 24 monthly instalments of $250 each. How much is each installment?

A Laptop can be bought on hire purchase by making a deposit of $1000 and 24 monthly instalments of $250 each. What is the total monthly installments (Amount Payable)?

• 24 x $1000 = $ 24,000

• 24 x $250 = $ 6000

A Laptop can be bought on hire purchase by making a deposit of $1000 and 24 monthly installments of $250 each.

We found that the Total Monthly Installments = $6000.

What is the Hire purchase price of the laptop?

If the Laptop is on sale for $ 5000 cash and the Hire purchase price was $7000. How much is saved by buying Cash?