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O-LevelCommerceCredit7100/11 · Oct/Nov 2020 · Q71 Mark

Mr X buys a car for $4000 on hire purchase over a 5-year period. If he makes the required 25% deposit and monthly repayments of $70, how much will he have paid in interest?

A$200

B$840

C$1200

D$4200

✓ Correct answer

C: $1200

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About this question

Topic: Credit, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2020 Paper 1 Variant 1, question 7.

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