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- 1. Multiple-choice2 minutes1 pt
Mr. Wong deposits $5000 into BOS bank which pays a simple interest of 2.5% per annum. How much will Mr. Wong receive altogether if he withdraws all the money after 18 months?
$2250
$5125
$5187.50
$7687.50
- 2. Fill-in-the-Blank3 minutes1 pt
Gavin bought a car for $36 000 on a hire purchase scheme. He paid a 18% deposit followed by monthly payments of $550 over a period of 5 years. Calculate the total amount he paid for the car.
- 3. Multiple-choice2 minutes1 pt
The Goods and Service Tax (GST) is predicted to rise from 7% to 10% in the future. Before the increase, the price of a LED television cost $1180 including 7% GST. Calculate the increase in price after the GST has increased to 10%.
$33.08
$35.40
$110.28
$118
- 4. Fill-in-the-Blank3 minutes1 pt
Adrian earned a total of $43 430 in 2020. He is entitled to a tax relief of $6930. The annual income tax to be paid on Adrian’s income is based on the tax rates given below.
Calculate his income tax payable.
- 5. Multiple-choice2 minutes1 pt
A Japanese tourist arrived in Singapore with ¥300 000. She exchanged all her money to local currency at a rate ¥100 = S$1.5025. How much Singapore dollars can she get?
S$1996.68
S$4507.50
S$199667
S$450750
