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A man buys an article costing £ 688 on the hire purchase system . He pays a deposit and twelve monthly instalments . The deposit is 4 times as large as the instalment . How much is the deposit ?​

Respuesta :

The deposit to be paid by the buyer will be  £ 2752.

What is the deposit?

Deposit is the amount taken by the loan provider as a security.

A man buys an article costing £ 688 on the hire purchase system . He pays a deposit and twelve monthly instalments . The deposit is 4 times as large as the instalment .

Deposit = 4 x  £ 688

Deposit =  £ 2752

Thus, the deposit is £ 2752.

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