Question

hire purchase price is equal to​

Answer 1

Explanation:

the cash price of the goods, cash price means the price at which goods may be purchased against cash payment. the hire-purchase price, hire purchase price means the total amount which is payable by the hire-purchaser under the agreement. the date on which the hire-purchase agreement will commence

Answer 2

• Hier Purchase Price is the sum that is payable by the hirer purchaser to the hire seller under the hire-purchase agreement to complete the purchase.
• It includes the cash price of goods, and the interest included. Hence, it is always more than the cash price of the goods.
• It is calculated by the addition of the interest on the amount borrowed and divided by the number of installments in which it is decided to be paid.
• This agreement works in the case when a buyer is unable to pay the lump sum of the amount asked but is willing to pay a percentage as a deposit. This contract allows buyers to hire the goods on a monthly rent basis.

#SPJ6