CXC/CSEC

MATHEMATICS SCHOOL BASED ASSESMENT

[YEAR 2022- ]

NAME OF CERTIFICATE : KEVA NELSON

KHALEEL SUDEEN
KARIM TITTE
AVANA BASDEO
RENATA MAHADEO

STUDENT REGISTRATION NUMBER :

CENTER NUMBER :

NAME OF SCHOOL : BARRACKPORE EAST

SECONDARY

TITLE OF PROJECT : A study of the Hire Purchase plans for a

couch set among three different stores in Trinidad to determine the best agreement plan being
presented.

TEACHER : MR. DAVE DODOLL

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TABLE OF CONTENTS

Heading PAGE Number

Title page 1
Introduction 3
Method of Data Collection 4-6
Presentation of Data 7
Analysis of Data 8
Discussion of findings 9
Conclusion 10
Reference 11
Bibliography 12

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INTRODUCTION

Hire Purchase is a system by which one pays for goods in regular instalments while
having the use of it and sometimes it doesn’t have down payment because customers don't
have enough money to pay.

ADVANTAGES AND DISADVANTAGES OF HIRE PURCHASE

ADVANTAGES DISADVANTAGES

Simple to apply Higher total cost

Fixed interest rates Contract terms can be extremely

long

You can own the item at the end of the agreement Item can be repossessed if
payments
are not made.

Option to pay off the loan early You may pay more for the Item
overall.

Three stores that we chose for the research which were living room couch from the
Stores A, B and C. The purpose of this project is to see the difference between the regulations
Cash Price and the Hire Purchase Price, to see which three stores has the best Hire Purchase
Price.

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METHOD OF DATA COLLECTION

Stores A, B, and C were observed because of their closeness and easy access for us to
collect data . Their closeness to our homes were the reason we all (the group) made a visit to
all the stores and collected all the information we needed.

The information that was obtained were: cash price, time period and weekly and
monthly instalments. The information was additionally explored to decide which store had
the best hire purchase plan among the three stores.

A picture of the item and the group was taken for proof of this assessment.

FIGURE 1

PICTURE OF ITEM

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Figure 2

COMPARATIVE BAR CHART

14,000.00

12,000.00

10,000.00

8,000.00

6,000.00

4,000.00

2,000.00

0.00
Store A Store B Store C
CASH PRICE HIRE PURCHASE PRICE

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Figure 3

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PRESENTATION OF DATA

STORE CASH PRICE MONTHLY NUMBER OF HIRE

INSTALMENTS MONTHS PURCHASE
PRICE
A 14,995.00 715.00 12 8,580.00
B 6.708.00 725.00 12 8,700.00
C 9,09500 1025.00 12 12,900.00

THE FORMULA USED TO CALCULATE THE HIRE PURCHASE IS:

HIRE PURCHASE= MONTHLY INSTALLMENTS X NUMBER OF MONTHS

(ALL PURCHASE REQUIRED NO DOWN PAYMENT).

Insert a bar chart comparing the 3 stores cash price and Hire purchase prices.

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ANALYSIS OF DATA

 With respect to sub-problem 1 at Store A

Hire Purchase Price- $715.00
Insert the working to get the Hire Purchase price
Total Hire Purchase- $8,580.00
Total Cash Price- $6,499.00
Difference in Price- $2,081.00
Insert the working to get the percentage interest
Increase in Prices as a Percentage- 32%

respect to sub-problem 2 at Store B

Hire Purchase Price- $725.00
Total Hire Purchase- $8,700.00
Total Cash Price- $6,708.00
Difference in Price- $1992.00
Increase in Prices as a Percentage- 29%

To respect to sub-problem 3 at Store C

Hire Purchase Price- $ 1025.00
Total Hire Purchase- $12,900
Total Cash Price- $9,095.00
Difference in Price- $3,805.00
Increase in Prices as a Percentage- 41%

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DISCUSSION
The data which is shown in Figure 3, displays the cash price, monthly instalments,
number of months and the hire purchase price for a couch set which were composed from 3
different stores. State a reason why no down payment was required.
At store A the original cost price of the couch set was $6,499. The final hire purchase
price was determined to be $8,580.00. State the percentage interest too.

At store B, the original cost price for the couch set was $6,708. The final hire
purchase price was acquired using the same technique as store A, which is to multiply the
number of months (12) by its monthly instalments ($725.00) to provide an overall price of
$8,700.00.

At store C, the original cost price of the couch set was $9,095. The final hire purchase
price was obtained with the identical technique as store A and B. Therefore, the number of
months (12) was multiplied by its monthly instalments ($1025.00) to provide an overall price
of $12,900.00.

Every store had a 12-month time period to pay the monthly instalments offered by
each store. There was a different ratio increase in prices from cost price-hire purchase price
for every store. Store A, had 32% increase, in Store B a 29% increase and in Store C 41%
increase.

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CONCLUSION

In conclusion, after analyzing, revising and examining all information acquired, Store
A was proved to have the most reasonable hire purchase price among all three stores

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REFERENCES

1.

2. Toolsie Raymond, Mathematics: A Complete Course with CXC Questions Volume

One.

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BIBLIOGRAPHY

Store A is Located in Princes Town.

Store B is Located in Princes Town.
Store C is Located in Princes Town.

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