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

Respuesta :

When you buy something on hire purchase the final price is given by:

[tex]\text{ the down payment}+\text{monthly installment}\cdot n[/tex]

Where n is the number of installments. Using the data provided we have that the final purchase price is given by:

[tex]\begin{gathered} P=800+20\cdot275=800+5500 \\ P=6300 \end{gathered}[/tex]

So the hire purchase price is $6300.