Question

the cash price of a stereo set was 1850.thr hire purchase price was 20% more than the cash price calculate the hire purchase​

Answer 1

hey dude meet your answer :

This structured approach would be helpful :

Let CP = 100MP = xDiscount = 15%SP = 119Profit = 19Facts :MP is always marked up as a % of CP.Discount is always on MPMP - Discount = SPSP - CP = ProfitPlugging in values, x - 0.15x = 119=> 0.85x = 119=> x = 119/0.85 = 140Markup = 40/100 x 100 = 40%

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