Financial Maths Revision

1.

Multiple Choice

15 mins

1 pt

increase $800 by 10%

$808

$880

880

$80

2.

Multiple Choice

15 mins

1 pt

A $900 laptop is discounted by 5%. What is the sale price of the laptop?

$45

$855

$904.50

$945

3.

Multiple Choice

5 mins

1 pt

If a tennis racquet costs $550 and Chris makes a $90 deposit. How much does Chris still owe on the tennis racquet?

$450

$460

$640

$90

4.

Multiple Choice

30 sec

1 pt

You earn a salary of $48000. Find your weekly income.

$48000 divided by 52. =

$48000 divided by 12

$48000 divided by 7

$48000 divided by 26

5.

Multiple Choice

30 sec

1 pt

Hourly rate of $60. How much do you earn in a week where you work for 30 hours at time and a half ?

60 divided by 30 X 1.5

60 X 30

60 X 1.5

60 X 30. X 1.5. =.

6.

Multiple Choice

30 sec

1 pt

Commission is

when you get an overtime rate

A percentage of what you sell

extra loading you get when you go on holidays

a police investigation

7.

Multiple Choice

30 sec

1 pt

Time and a half is

Overtime where you are paid one and half times your normal pay

Double time

a half of your normal pay

when the clock strikes 1.30pm

8.

Multiple Choice

3 mins

1 pt

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

95

105

125

135

9.

Multiple Choice

3 mins

1 pt

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

$120

$144

$1,200

$1,440

10.

Multiple Choice

3 mins

1 pt

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

6%

8%

9%

11.

Multiple Choice

30 sec

1 pt

The simple interest formula is I=Prt. What does the t represent?

Principle

Interest

Time, in hours

Time, in years

12.

Multiple Choice

2 mins

1 pt

Write the decimal as a percent.
0.37

37%

3.7%

.37%

13.

Multiple Choice

30 sec

1 pt

What does the "r" in the interest formula stand for?

Principal

Interest

rate

time

14.

Multiple Choice

5 mins

1 pt

Your 3 year investment of $20,000 received 5.2% interest compounded annually. What is your total return?

$23,285.05

$3,285.05

$2,385

$32,285

15.

Multiple Choice

5 mins

1 pt

You take out a loan for $175,000. Which option will cost you less?

A) Simple Interest rate of 4.17% over 15 years

B) Compound Interest rate of 3.5% over 15 years

Option A

Option B

they are both equal

16.

Multiple Choice

2 mins

1 pt

What is the percentage profit if Tony buys a watch for $50 and sells it for $60?

20%

25%

16.6%

16.7%

17.

Multiple Choice

2 mins

1 pt

If James sells his car for $1,000 and bought it for $2500. What is the percentage loss made on the car.

15%

10%

60%

150%

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