Carl wants to buy a television that cost $500 including taxes to pay for the television he will use a payment plan that requires him to make a down payment of $125 and then pay $72.50 each month for six months what is the percent increase from the original cost of the television to the cause of the television using the payment plan

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jenlopezx77381 jenlopezx77381

18-03-2020
Mathematics

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Carl wants to buy a television that cost $500 including taxes to pay for the television he will use a payment plan that requires him to make a down payment of $125 and then pay $72.50 each month for six months what is the percent increase from the original cost of the television to the cause of the television using the payment plan

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opudodennis opudodennis · Answer 1 · 2020-03-26T08:29:48+01:00

Answer:

41%

Step-by-step explanation:

Given the cash price is $500, the hire purchase price is calculated by summing the installment and down-payment:

[tex]Hire \ Purchase \ Price=Installments +Downpayments\\\\=8\times 72.50+125\\\\=705[/tex]

#Percentage increase in price is the difference between the hire purchase price and list price as a percentage of the list price:

[tex]\bigtriangleup Price=705-500\\\\=205\\\\\%\bigtriangleup Price=\frac{\bigtriangleup Price}{500}\times 100\%\\\\\\=\frac{205}{500}\times100\%\\\\=41\%[/tex]

Hence, the % increase in price is 41%