Given the cash price of an item together with the percentage rate required, calculate the HP charges for a given repayment.
I had no idea how hire purchasing works, so I had a look round the web for some information. As far as I can tell a total price is agreed upon and then the buyer pays equal amounts every month until they reach that amount. They usually pay a deposit, but the question doesn't mention that so I wont include that part of the deal.
I'm not certain that's how it works, but I can always update my answer if I discover it works differently.
// a random cash price of an item in pounds
$cash_price = mt_rand(5, 20);
// a random percentage rate
$percentage_rate = mt_rand(5, 50);
// a random number of repayment periods
$repayments = mt_rand(2, 10);
// the total amount to pay is the cash price plus the percentage
$total = $cash_price + ($cash_price * ($percentage_rate / 100));
// the amount to pay each month is the total amount
// divided by the number of repayments
$repayment = $total / $repayments;
// output the original values
echo . number_format($cash_price, 2) . '<br/>'
. 'Percentage Rate: ' . $percentage_rate . '%<br/>'
. 'Repayments: ' . $repayments;
// output the total amount to be paid
echo . number_format($repayment, 2) . '</b>';
Cash Price: £12.00
Percentage Rate: 14%
Monthly Amount: £1.52