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O-LevelCommerceCredit7100/12 · May/June 2024 · 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

C: $230

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About this question

Topic: Credit, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, May/June 2024 Paper 1 Variant 2, question 8.

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