Car is purchased on hire-purchase. The cash price is $21 000 and the terms are a deposit of 10% of the price, then the balance to be paid off over 60 equal monthly instalments. Interest is charged at 12% p.a. What is the total cost of the car?

A) 30.240

B) 31.240

C) 33.240

D) 32,240

View Answer
Option – D.