Question

Jones bought a car for ¢6,800,000.00. He later put it up for sale at ¢8,800,000.00. He agreed to sell it to Ruby under the following hire purchase: An initial payment of 20% of the price and the balance paid at 15% simple interest per annum in twelve monthly equal instalments. Calculate a. The amount paid every month; b. The total amount Ruby paid for the car; c. The percentage profit Jones made on the cost price of the car.

Answer 1

Answer:

this is toooo large question.