SUZE bought a car on hire purchase the car costed R130 000 she paid deposit of 13000 and a monthly instalments R4600 per month for three years what was the interest of the cash price
To calculate the interest on the cash price, we first need to calculate the total amount Suze paid over the three years.
The total amount paid each month is R4600, so the total amount paid in one year is R4600 * 12 = R55,200.
Over three years, the total amount paid is R55,200 * 3 = R165,600.
Suze also paid a deposit of R13,000, so the total amount paid is R165,600 + R13,000 = R178,600.
To find the interest on the cash price, we subtract the total amount paid from the original cost of the car:
R178,600 - R130,000 = R48,600.
Therefore, the interest on the cash price was R48,600.