The cash price of a cupboard is $3 000. An interest of 25% is charged if the cupboard is bought on hire purchase terms. Amina bought the cupboard on hire purchase terms. She paid a deposit and twelve equal installments. Each installment was $ 262.50. How much deposit did she pay?

Answer 1

3,000 * 1.25 = 3,750

262.5 * 12 = 3,150

3,750 - 3,150 = $_________ deposit