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Refer to the information below to answer Questions 7 and 8. The cash price of a table is K200. To buy it on hire-purchase, a deposit of K50 is payable plus ten equal instalments of K21.

Mathematics

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Answers

4 parts
7

K260\text{K260}

8

K60\text{K60}

9

K130\text{K130}

10

K184\text{K184}

Step-by-step solution

10 steps

Here are the solutions to the questions:

Part 7· 2 steps

  1. Calculate the total amount paid in installments.

    Total installments=Number of installments×Installment amount\text{Total installments} = \text{Number of installments} \times \text{Installment amount} Total installments=10×K21=K210\text{Total installments} = 10 \times \text{K21} = \text{K210}

  2. Calculate the total hire-purchase price.

    Hire-purchase price=Deposit+Total installments\text{Hire-purchase price} = \text{Deposit} + \text{Total installments} Hire-purchase price=K50+K210=K260\text{Hire-purchase price} = \text{K50} + \text{K210} = \text{K260}

    The amount paid for the table on hire-purchase is K260.

    K260\boxed{\text{K260}}

Part 8

K60\text{K60}

  1. Identify the cash price and the hire-purchase price.

    The cash price is K200. The hire-purchase price from Question 7 is K260.

  2. Calculate the difference between the hire-purchase price and the cash price.

    Difference=Hire-purchase price−Cash price\text{Difference} = \text{Hire-purchase price} - \text{Cash price} Difference=K260−K200=K60\text{Difference} = \text{K260} - \text{K200} = \text{K60}

    The difference between the cash and hire-purchase prices is K60.

    K60\boxed{\text{K60}}

Part 9

K130\text{K130}

  1. Calculate the total amount paid in fortnightly installments for a year.

    There are 52÷2=2652 \div 2 = 26 fortnights in a year.

    Total installments=Number of fortnights×Fortnightly amount\text{Total installments} = \text{Number of fortnights} \times \text{Fortnightly amount} Total installments=26×K55=K1430\text{Total installments} = 26 \times \text{K55} = \text{K1430}

  2. Calculate the total hire-purchase price.

    Hire-purchase price=Deposit+Total installments\text{Hire-purchase price} = \text{Deposit} + \text{Total installments} Hire-purchase price=K300+K1430=K1730\text{Hire-purchase price} = \text{K300} + \text{K1430} = \text{K1730}

  3. Calculate the difference between the cash price and the hire-purchase price.

    Difference=Hire-purchase price−Cash price\text{Difference} = \text{Hire-purchase price} - \text{Cash price} Difference=K1730−K1600=K130\text{Difference} = \text{K1730} - \text{K1600} = \text{K130}

    The difference between the cash price and the hire-purchase price is K130.

    K130\boxed{\text{K130}}

Part 10

K184\text{K184}

  1. Calculate the total amount paid in monthly installments for 2 years.

    There are 2×12=242 \times 12 = 24 months in 2 years.

    Total installments=Number of months×Monthly amount\text{Total installments} = \text{Number of months} \times \text{Monthly amount} Total installments=24×K103.50=K2484\text{Total installments} = 24 \times \text{K103.50} = \text{K2484}

  2. Calculate the total hire-purchase price.

    Hire-purchase price=Deposit+Total installments\text{Hire-purchase price} = \text{Deposit} + \text{Total installments} Hire-purchase price=K200+K2484=K2684\text{Hire-purchase price} = \text{K200} + \text{K2484} = \text{K2684}

  3. Calculate the interest charged on hire purchase.

    Interest charged=Hire-purchase price−Cash price\text{Interest charged} = \text{Hire-purchase price} - \text{Cash price} Interest charged=K2684−K2500=K184\text{Interest charged} = \text{K2684} - \text{K2500} = \text{K184}

    The interest charged on hire purchase is K184.

    K184\boxed{\text{K184}}
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