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, f...

Answer Details

The man bought a television set on hire purchase for N25,000 and paid N10,000 initially. Therefore, the balance he needs to pay is N25,000 - N10,000 = N15,000. Since he is allowed to pay the balance in eight equal installments, the value of each installment will be: N15,000 ÷ 8 = N1875. Therefore, the value of each installment is N1875. The correct option is (c) N1875.