Answer:
R7,737
Step-by-step explanation:
To find the total hire purchase price, you need to consider the deposit and the 12 monthly instalments.
Deposit:
Deposit percentage: 15%
Cash price: R6,900
Deposit = 15% of R6,900
= 0.15 * R6,900
= R1,035
Monthly Instalments:
Number of instalments: 12
Monthly instalment amount: R558.50
Total instalments = 12 * R558.50
Total Hire Purchase Price:
Total Hire Purchase Price = Cash price + Deposit + Total instalments
= R6,900 + R1,035 + (12 * R558.50)
Now, calculate the values:
Total instalments = 12 * R558.50
= R6,702
Total Hire Purchase Price = R6,900 + R1,035 + R6,702
= R14,637
Therefore, the total hire purchase price is R14,637.
To find the extra amount paid on top of the cash price, subtract the cash price from the total hire purchase price:
Extra amount = Total Hire Purchase Price - Cash price
= R14,637 - R6,900
= R7,737
So, the extra amount paid using hire purchase is R7,737.
Correct me if im wrong
