SOLUTION: The cash price of a television set is $10 000.00 A woman buys the television set on hire purchase by making a 20% down payment and paying off the balance in 12 equal installments

Question 1184947: The cash price of a television set is $10 000.00
A woman buys the television set on hire purchase by making a 20% down payment and paying off the balance in 12 equal installments of $800.00. The amount saved if the television set was bought for cash is
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
price was 10,000
20% down is 2000
12 equal installments of 800 = 9600.
9600 + 2000 = 11,600.
savings of 1600 if pay 10,000 right away, rather than finance.

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