NECO Commerce 2025 Objective — Question 41
Question 41 of 50 from the National Examinations Council (NECO) Commerce 2025 Objective paper, with the correct answer and a full explanation.
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A contract of sale where the selling price includes interest is a
- A. lease agreement
- B. hire purchase agreementCorrect
- C. credit sale agreement
- D. cash sale agreement
Explanation
In a hire purchase agreement, the buyer pays for goods over time, with interest added to the original selling price.
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