Which of the following will be suitable for hire purchase sale?
Answer Details
Out of the given options, the most suitable item for hire purchase sale is a refrigerator.
Hire purchase is a method of purchasing goods where the buyer pays a certain amount of money as a down payment and then pays the remaining amount in installments over an agreed period of time. The ownership of the goods remains with the seller until the buyer makes the final payment.
A refrigerator is a durable good that is commonly sold through hire purchase agreements. This is because refrigerators are expensive and necessary household items that people may not be able to afford to pay for outright. By using hire purchase, people can pay for the refrigerator over time and still have use of it while making payments.
Shares, shoes, and textiles are not suitable for hire purchase sale because they are not durable goods. Shares are a form of investment and not a physical good that can be purchased on hire purchase. Shoes and textiles are consumable goods that do not have a long lifespan, and it would not make sense to purchase them on hire purchase.