Under the hire-purchase system, when maintaining the Hire Purchase Trading Account, the formula to calculate the cost price equivalent value of the shop-worn or repossession stock (Stock with Customers at cost price) out of installment outstanding is:

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Accounting · Hire Purchase System

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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(Installment Outstanding × Cash Price) / Total Hire Purchase Price

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Answer 1

Selling Price - Variable Cost

Answer 2

(Installment Outstanding × Cash Price) / Total Hire Purchase Price

Answer 3

Rate of Interest / (100 + Rate of Interest)

Answer 4

Actual Average Profit - Normal Profit

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