Practice hire purchase MCQs in math quiz for online learning test. Math applications quiz questions has multiple choice questions (MCQ), hire purchase test to practice as a refrigerator is priced at \$10,000. a deposit of 16% on simple interest of 11% per year over 2 year and repayments paid monthly then amount of deposit made is. Answer key help with choices as \$2,000, \$2,150, \$1,950 and \$1,600 problem solving for competitive exam, viva prep, interview questions worksheets. Free math revision notes to practice hire purchase quiz with MCQs to find questions answers based online learning tests.

MCQ. A refrigerator is priced at \$10,000. A deposit of 16% on simple interest of 11% per year over 2 year and repayments paid monthly then the amount of deposit made is

1. \$2,000
2. \$2,150
3. \$1,950
4. \$1,600

D

MCQ. The television is priced at \$10,000. A deposit of 16% on simple interest of 11% per year over 2 year and repayments paid monthly then the monthly installment is

1. \$457
2. \$447
3. \$437
4. \$427

D

MCQ. The television is priced at \$10,000. A deposit of 16% on simple interest of 11% per year over 2 year and repayments paid monthly then the additional amount to pay in 24 monthly installments after deposit is

1. \$10,248
2. \$11,248
3. \$13,248
4. \$14,248

A

MCQ. A refrigerator is priced at \$10,000. A deposit of 16% on simple interest of 11% per year over 2 year and repayments paid monthly then the interest on remaining amount for 2 years after deposit is

1. \$2,148
2. \$1,848
3. \$1,948
4. \$2,048

B

MCQ. Henry buys a designer furniture set at price of \$1200. He pays 25% deposit and interest in 36 months plus outstanding balance. The interest charged on balance is 12%. The total hire purchase price is

1. \$1,824
2. \$1,724
3. \$1,624
4. \$1,524

D