Subjects algebra

Hire Purchase C6Bfa2

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Hire Purchase C6Bfa2


1. **Problem statement:** Calculate how many monthly instalments must be paid if the deposit is 69 and each instalment is 28.5, with a total hire purchase price of 354. 2. **Formula and explanation:** The total hire purchase price equals the deposit plus the sum of all monthly instalments. $$\text{Total price} = \text{Deposit} + (\text{Number of instalments} \times \text{Instalment amount})$$ 3. **Set up the equation:** $$354 = 69 + n \times 28.5$$ where $n$ is the number of monthly instalments. 4. **Solve for $n$:** $$n \times 28.5 = 354 - 69$$ $$n \times 28.5 = 285$$ $$n = \frac{285}{28.5} = 10$$ So, 10 monthly instalments must be paid. 5. **Calculate how much more the hire purchase price is than the cash price:** $$\text{Difference} = 354 - 319.95 = 34.05$$ 6. **Express the difference as a percentage of the cash price:** $$\text{Percentage} = \left(\frac{34.05}{319.95}\right) \times 100 \approx 10.64\%$$ **Final answers:** - Number of monthly instalments: 10 - Amount more than cash price: 34.05 - Percentage more than cash price: 10.64%