WAEC - Mathematics (2000 - No. 13)
A man bought a television set on hire purchase for N25,000, out of which he paid N10,000, if he is allowed to pay the balance in eight equal installments, find the value of each installment.
N1250
N1578
N1875
N3125
Explication
Price of television = N25,000
Paid N10, 000
Remainder = N(25,000 - 10,000)
= N15,000
Eight equal installments = \(\frac{15,000}{8}\)
= N1,875 per installment.