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Mathematics
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ScanSolve AI Answer

Here's the solution for Question 1:

Question 1

Given information: Down payment = 300.00Numberofmonthlypayments=18Monthlypaymentamount=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. Totalmonthlypayments=Numberofmonthlypayments×MonthlypaymentamountTotal monthly payments = Number of monthly payments \times Monthly payment amount Totalmonthlypayments=18×$200.00=$3600.00Total monthly payments = 18 \times \$200.00 = \$3600.00

Step 2: Calculate the hire purchase price by adding the down payment to the total monthly payments. Hirepurchaseprice=Downpayment+TotalmonthlypaymentsHire purchase price = Down payment + Total monthly payments Hirepurchaseprice=$300.00+$3600.00=$3900.00Hire purchase price = \$300.00 + \$3600.00 = \$3900.00 The hire purchase price is \boxed{\3900.00}$.

b) The interest charged

Step 1: Calculate the interest charged by subtracting the cash price from the hire purchase price. Interestcharged=HirepurchasepriceCashpriceInterest charged = Hire purchase price - Cash price Interestcharged=$3900.00$3600.00=$300.00Interest charged = \$3900.00 - \$3600.00 = \$300.00 The interest charged is \boxed{\300.00}$.

c) The percentage interest charged

Step 1: Calculate the percentage interest charged using the interest charged and the cash price. Percentageinterestcharged=(InterestchargedCashprice)×100%Percentage interest charged = \left( \frac{Interest charged}{Cash price} \right) \times 100\% Percentageinterestcharged=($300.00$3600.00)×100%Percentage interest charged = \left( \frac{\$300.00}{\$3600.00} \right) \times 100\%

Step 2: Perform the calculation. Percentageinterestcharged=112×100%8.333%Percentage interest charged = \frac{1}{12} \times 100\% \approx 8.333\% The percentage interest charged is 8.33%\boxed{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 XX. The advertised cash price (3600.00) is the original cash price minus a 10% discount. $$ Advertised cash price = Original cash price - (Discount rate \times Original cash price) $$ $$ \3600.00 = X - (0.10 \times X) $3600.00 = X(1 - 0.10) $3600.00 = 0.90X $$

Step 2: Solve for XX. X=$3600.000.90X = \frac{\$3600.00}{0.90} X=$4000.00X = \$4000.00 The original cash price is \boxed{\4000.00}$.

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