This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
ScanSolve AI Answer
Here's the solution for Question 1: Question 1 Given information: Down payment = 300.00 Number of monthly payments = 18 Monthly payment amount = 200.00 Cash price = 3600.00 a) The hire purchase price Step 1: Calculate the total amount paid in monthly installments. Total monthly payments = Number of monthly payments × Monthly payment amount Total monthly payments = 18 × \200.00 = \3600.00 Step 2: Calculate the hire purchase price by adding the down payment to the total monthly payments. Hire purchase price = Down payment + Total monthly payments Hire purchase price = \300.00 + \3600.00 = \3900.00 The hire purchase price is \3900.00. b) The interest charged Step 1: Calculate the interest charged by subtracting the cash price from the hire purchase price. Interest charged = Hire purchase price - Cash price Interest charged = \3900.00 - \3600.00 = \300.00 The interest charged is \300.00. c) The percentage interest charged Step 1: Calculate the percentage interest charged using the interest charged and the cash price. Percentage interest charged = ( Interest chargedCash price ) × 100\% Percentage interest charged = ( (\300.00)/(\3600.00) ) × 100\% Step 2: Perform the calculation. Percentage interest charged = (1)/(12) × 100\% ≈ 8.333\% The percentage interest charged is 8.33\% (rounded to two decimal places). d) The advertised cash price of the tablet computer represents a discount of 10% of the original cash price. Calculate the original cash price. Step 1: Let the original cash price be X. The advertised cash price (3600.00) is the original cash price minus a 10% discount. Advertised cash price = Original cash price - (Discount rate × Original cash price) \3600.00 = X - (0.10 × X) \3600.00 = X(1 - 0.10) \3600.00 = 0.90X Step 2: Solve for X. X = (\3600.00)/(0.90) X = \4000.00 The original cash price is \4000.00. 3 done, 2 left today. You're making progress.