Financial Mathematics

Percentages

100

Express 54% as a fraction.

(A) 54/50

(B) 27/50

(C) 27/100

(D) 54/0

(B) 27/50

200

Express 0.375 as a percentage

(A) 37.5%

(B) 3.75%

(C) 375%

(D) 0.375%

(A) 37.5%

300

When Steve Waugh retired from test cricket in 2003, he had scored 32 centuries from 260 innings? In what percentage of his innings did he score centuries?

(A) 12.3%

(B) 32%

(C) 0.12%

(D) 13%

(A) 12.3%

Income

100

Michelle is paid $8.40 per hour and time-and-a-half for overtime. If a normal days work is 7 hours, how much would she be paid for 10 hours work in one day?

(A) $84

(B) $126

(C) $58.80

(D) $96.60

(D) $96.60

200

Emma bought a new tyre for $100, Jade bought one for $85 and Diane bought a retread for $58. If Emma's tyre lasted 32 000km, Jade's 27 500km, and Diane's 16 000km, who had the best buy?

(A) Emma

(B) Jade

(C) Diane

(D) Emma and Diane equally

(B) Jade by about 3 km

300

A new car worth $32 000 was sold after two years for $24 000. What was the loss as a percentage of the final selling price?

(A) 33.3%

(B) 75%

(C) 25%

(D) 66.7%

(A) 33.3%

Simple Interest

100

What is the simple interest charged on $600 at 12% pa for 5 years?

(A) $360

(B) $30

(C) $4320

(D) $1057.41

(A) $360

200

What interest would be paid on $25 000 invested for 6 years at a simple interest rate of 9.3% pa?

(A) $13 950

(B) $1162.50

(C) $167 400

(D) $42 624.67

(A) $13 950

300

Troy borrowed $1200 at 1.5% per month simple interest. Which is the best estimate of of the interest charges for 6 months?

(A) $20

(B) $100

(C) $200

(D) $1800

(B) $100 (because the answer is $108)

Compound Interest & Depreciation

100

What is the compound interest earned if $9000 is invested for 3 years at 13% pa if the interest is compounded yearly?

(A) $732 936.71

(B) $12 986.07

(C) $9295.68

(D) $3510

(B) 12 986.07

200

$12 500 is invested at a compound interest rate of 9% pa, however the interest is compounded monthly. What is the amount of the investment after 4 years?

(A) $17 644.77

(B) $782 315.46

(C) $12 879.24

(D) $17 892.57

(D) $17 892.57

300

Carol paid $2200 for a new entertainment system. What is the value of the system in 6 years if its rate of depreciation is 25% pa?

(A) $1808.45

(B) $8392.33

(C) $3300

(D) $391.55

(D) $391.55

Mr Pardy

100

Mr Pardy learnt in Africa that the "Big Five" are animals that will still attack if they are shot. Which animals are a part of the "Big Five"?

(A) Elephant, Buffalo, Lion, Giraffe, Leopard

(B) Buffalo, Lion, Rhino, Leopard, Elephant

(C) Lion, Hippo, Leopard, Elephant, Buffalo

(D) Hippo, Leopard, Elephant, Buffalo, Gorilla

(B) Buffalo, Lion, Rhino, Leopard, Elephant

200

What did Mr Pardy NOT see when we went to Uganda and Kenya?

(A) eucalyptus leaves

(B) McDonald's

(C) Coca-Cola

(D) mobile phones

(B) McDonald's

300

Mr Pardy survived the Nyngan flood when he was 7 years old. When did this event occur?

(A) 4 January, 1988

(B) 1st September, 1989

(C) 9th February, 1991

(D) 23rd April, 1990

(D) 23rd April, 1990