Question
A PlayStation 3 worth R 4500 , is bought from a department store. A deposit of \( 10 \% \) is paid in cash and the remainder of the amount is borrowed on a hire-purchase agreement and is repaid in 4 years. The interest on a loan is charged at \( 18 \% \) p.a. a. Determine the deposit amount.
Ask by Reed Lee. in South Africa
Mar 09,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The deposit amount is R450.
Solution
1. The cost of the PlayStation 3 is \( R4500 \).
2. The deposit paid is \( 10\% \) of \( R4500 \). We calculate:
\[
\text{Deposit} = \frac{10}{100} \times 4500 = 0.1 \times 4500 = R450.
\]
3. Therefore, the deposit amount is \( R450 \).
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Simplify this solution The Deep Dive
To calculate the deposit amount, you need to find 10% of the total cost of the PlayStation 3. The total cost is R 4500. So, the deposit is: Deposit = 10% of R 4500 = 0.10 × R 4500 = R 450. Thus, the deposit amount paid in cash is R 450.
