Question

cash price plus interest is ?

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Answer 1

Answer:

Hey mate here is your answer hope it helps you.

Answer 2

Cash price plus interest is,

• Cash price plus interest is hire purchase price. The cash price denotes the actual cost of the Asset taken on hire.
• In the concept of hire purchase, the asset is taken and the payment is made in parts with or without a down payment.
• Since the seller is not asking for a full one-time payment he charges interest from the buyer at a fixed rate.
• Such interest is charged on the outstanding payment.
• The cash price plus interest including the down-payment altogether is known as the higher purchase price.