What is hire purchase scheme?

A method of buying goods through making instalment payments over time.

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A method of trading goods through making instalment payments over time.

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A method of buying goods through making interest payments over time.

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A method of buying goods through making money payments over time.

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Solution

The correct option is A A method of buying goods through making instalment payments over time.
A hire purchase is a method of buying goods through making instalment payments over time.

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Similar questions

The ___ demand for money arises out of the need to make payments for goods and services.

Which one of the following facilitates easy purchase of goods and services without making immediate payment?

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