2018 P2 Q8(a)(b)
Scott decides to build a new track bike.
Scott needs to buy a frame, a handlebar, a pair of pedals, a saddle, 2 wheels and 2 tyres.
Different retailers offer these parts.
The prices, in pounds, are shown in the table.
| Retailer |
Handlebar |
Pedals (pair) |
Wheels (each) |
Saddle |
Tyres (each) |
| Bikes 2 Go |
63.33 |
33.33 |
51.25 |
41.66 |
54.98 |
| Bikevelo |
55.49 |
42.50 |
46.66 |
62.37 |
58.33 |
| Velo cycles |
68.83 |
36.66 |
61.20 |
53.99 |
61.66 |
| Cycle trax |
59.50 |
43.33 |
52.25 |
63.33 |
69.99 |
| EP bikes |
71.58 |
41.66 |
44.49 |
47.85 |
49.99 |
Scott can buy the parts from different retailers.
The bike frame costs £2640.95.
(a) Calculate the minimum total cost of the frame and parts.
Scott cannot afford to pay for the bike all at once.
The cash price of the complete bike from EP bikes is £2991.00.
He chooses to buy the complete bike from EP bikes, as they are the only retailer offering a finance package.
The finance package consists of:
• a deposit of 15% of the cash price
• 36 payments of £76.50.
(b) Calculate how much more this finance package will cost compared to the minimum total cost.