Activity 1
This tables shows the hire purchase deals offered by three different stores, for a
Frigidaire 21 cubic foot refrigerator. No deposit is required.
Plan
Total amount of the weekly
instalments
$ 7800
$ 9100
$ 9360
Plan X
Plan Y
Plan Z
Number of Weeks
104
130
156
A. Calculate the amount of the weekly installments at each of the three
stores.
B. Write down the hire-purchase price for the refrigerator under each plan.
C. The cash price for the refrigerator is $5395. For each plan, calculate:
a. The difference between the hire purchase price and the cash price,
which is the interest.
b. The interest as a percentage of the cash price, correct to three
significant figures.
D. Which of the three hire purchase plans is the best, in terms of saving
money?
a. Comparing the three hire purchase plans, how many dollars can be
saved by choosing the best offer?
2. This table shows the hire purchase plans offered by three different stores, for
a Whirlpool 30” gas cooker.
Plan
Down Payment
Plan A
Plan B
Plan C
$ 390
$ 590
$ 790
Amount of 1
monthly instalment
$ 215
$ 261
$362
Number of months
24
18
12
a) Calculate the total amount of the monthly instalments for the cooker at each of
the three stores.
b) Determine the hire purchase price for the cooker under each plan.
c) The cash price for the gas cooker is $3945. For each plan, Calculate:
a. The difference between the hire purchase price and the cash price, which
is the interest charged
b. The interest as a percentage of the cash price, correct to one decimal
place.
d) Which of the three hire purchase plans is the best, in terms of saving money?
a. Comparing the three hire purchase plans in the best, how many dollars
can be saved by choosing the best offer?