O-LevelCommerceCreditMay/June 2024Paper 1 Q81 Mark
A customer wants to buy a fridge freezer priced at $1600. If they buy it on hire purchase, the terms of payment are 5% deposit plus 10 equal instalments of $175. How much more will the customer pay when buying the fridge freezer on hire purchase instead of paying in cash?
A$80
B$150
C$230
D$1750
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of credit within the Commercesyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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