To calculate the answers, we'll follow the given information step by step:
3.1.1 How much will his deposit be?
The deposit is 15% of the total price. Since the total price is R15,000, the deposit can be calculated as follows:
Deposit = 15% of R15,000
Deposit = (15/100) * R15,000
Deposit = R2,250
Therefore, Philani's deposit will be R2,250.
3.1.2 Calculate the total amount that he must still pay.
To calculate the total amount that Philani must still pay, we need to subtract the deposit from the total price. The deposit is R2,250, and the total price is R15,000. Thus:
Total amount to pay = Total price - Deposit
Total amount to pay = R15,000 - R2,250
Total amount to pay = R12,750
Therefore, Philani must still pay a total amount of R12,750.
3.1.3 Calculate the monthly instalments.
To calculate the monthly instalments, we'll divide the total amount to pay by the number of months. Philani will make 24 monthly instalments, and the total amount to pay is R12,750. Thus:
Monthly instalments = Total amount to pay / Number of months
Monthly instalments = R12,750 / 24
Monthly instalments ≈ R531.25 (rounded to the nearest cent)
Therefore, Philani's monthly instalments will be approximately R531.25.
Philani sees the following advert:
SCOOTER FOR SALE
R15 000 CASH
HIRE PURCHASE AGREEMENT
AVAILABLE
Since he cannot afford to pay cash for the scooter, he opts for the hire purchase
agreement which states the following:
15% deposit
24 monthly equal instalments
Interest rate: 10% per annum
3.1.1 How much will his deposit be? (1)
3.1.2 Calculate the total amount that he must still pay. (3)
3.1.3 Calculate the monthly instalments. (2)
2 answers
3.1.1 The deposit will be R2,250.
3.1.2 The total amount that he must still pay is R12,750.
3.1.3 The monthly instalments will be approximately R531.25.
3.1.2 The total amount that he must still pay is R12,750.
3.1.3 The monthly instalments will be approximately R531.25.
1 answer