Question

Harry buys a TV priced at 1200 plus 20% VAT.
He pays 300 pounds deposit and the balance in ten equal monthly payments.
Calculate each monthly payment.

Answer 1

Harry's final payment = 1200 + 20% = 1440 POUNDS. 

His initial deposit = 300 POUNDS = 1440 - 300 = 1140 POUNDS.

His EMI (Equal Monthly Payments) = 1140 / 10 = 114 POUNDS

Hope this helps! :D