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Greg buys a bicycle for £2000.Greg pays a deposit for the bicycle and pays the rest of the cost in 6 equal payments of £250.Work out the ratio of deposit paid to the total cost of the bicycle.Give your answer in its simplest form.

Question

Greg buys a bicycle for £2000.Greg pays a deposit for the bicycle and pays the rest of the cost in 6 equal payments of £250.Work out the ratio of deposit paid to the total cost of the bicycle.Give your answer in its simplest form.

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Solution

Step 1: Calculate the total amount paid in 6 equal payments.

£250 x 6 = £1500

Step 2: Subtract this amount from the total cost of the bicycle to find out how much was paid as a deposit.

£2000 - £1500 = £500

So, Greg paid a deposit of £500.

Step 3: Now, we need to find the ratio of the deposit paid to the total cost of the bicycle.

This is £500 : £2000

Step 4: Simplify the ratio by dividing both sides by the greatest common divisor, which is 500.

£500/500 : £2000/500 = 1:4

So, the ratio of the deposit paid to the total cost of the bicycle in its simplest form is 1:4.

This problem has been solved

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