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Philani bough a scooter for R15 000. He paid 15% of the amount in cash and sgned a hire-purchase agreement to pay the balance in 24 equal monthly instalments. The interest rate is 10% per annum.
How much did he pay in cash?

Calculate the total amount that he must still pay.

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02-06-2022
Mathematics

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CORRECT ANSWER GETS BRAINLIST

Philani bough a scooter for R15 000. He paid 15% of the amount in cash and sgned a hire-purchase agreement to pay the balance in 24 equal monthly instalments. The interest rate is 10% per annum.
How much did he pay in cash?

Calculate the total amount that he must still pay.

Sagot :

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myg1840 myg1840 · Answer 1 · 2022-06-02T10:02:27-04:00

myg1840 myg1840

02-06-2022

If philani buys a scooter for 15,000 and wants to pay 15% down then he must pay 2,250. After this they will still need to pay 12,750 to pay of the scooter, but after the 10% annually (for two years) then they will owe 15,750 for the scooter rather than 12,750. Hope this helps!

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