Finance 1
Sarah earns an hourly rate of $22.50. How much does she earn for working a 38-hour week?
$855 (38 x $22.50)
A fair six-sided die is rolled. What is the theoretical probability of rolling an even number? Give your answer as a fraction in simplest form.
1/2 (3 out of 6)
A factory worker is paid $3.20 per item completed. If he completes 150 items in a day, how much piecework income does he make?
$480 ($150 x $3.20)
In set notation, which symbol (U or n) represents the Union of two sets?
Show using your hands.
U
In The Lion King, what is the name of Simba’s uncle?
Scar
A real estate agent sells a house for $800,000. If her commission rate is 1.5%, how much commission does she receive?
$12,000 ($800,000 x 0.015)
A spinner with 8 equal sections numbered 1 to 8 is spun. Express the probability of spinning a multiple of 3. Answer as a decimal.
0.25 (2 in 8)
An employee takes annual leave and receives a 17.5% annual leave loading on 4 weeks of standard pay. If her standard weekly pay is $1,200, calculate her holiday loading.
$840
A spinner with 10 equal sections numbered 1 to 8 is spun. Express the probability of spinning a multiple of 4. Answer as a decimal.
What is the name of the largest tennis tournament held annually in England?
Wimbeldon
Calculate the simple interest earned when $4,000 is invested at 5% per annum for 3 years using I = Prn
$600 (4000 x 0.05 x 3)
A coin is tossed 200 times and lands on heads 112 times. What is the relative frequency of landing on heads? Give your answer as a simplified fraction
14/25
Calculate the standard Medicare Levy (2%) for a worker whose taxable income is $78,000 for the year.
$1,560 ($78,000 x 0.02)
A die is rolled 150 times and lands on six 27 times. What is the relative frequency of rolling a six? Give your answer as a simplified fraction
9/50
What is the chemical symbol for Iron?
Fe
Ben earns a normal hourly rate of $24 per hour. On Sunday, he works 6 hours at double time. How much does he earn for his Sunday shift?
$288 ($24 x 2 x 6)
Two fair coins are tossed. List the sample space, then state the probability of getting at least one head.
HH, HT, TH, TT
0.75 or 75% or 3/4
An investor wants to earn $900 in simple interest over 3 years at an annual rate of 6% per annum. How much principal must they invest?
P = I /(r x n)
$5,000
A bag contains 5 red marbles and 3 blue marbles. Two marbles are drawn with replacement. What is the probability that both marbles drawn are red?
25/64 (5/8 x 5/8)
Which modern Countries' ancient civilisation invented paper, blast furnaces (to melt down metal) and the compass?
China
An author receives a 10% royalty on book sales. If they earn $4,500 in royalties, what was the total dollar value of the books sold?
$45,000 ($4500 x 10)
The probability of rain on any given day this week is 0.3. Considering only Monday and Tuesday, what is the probability that it rains on exactly one of those two days?
Hint: Draw a tree diagram showing the outcomes for Monday and Tuesday.
0.42 (0.3 x 0.7 + 0.7 x 0.3)
At the end of the financial year, Liam’s total tax payable calculated by the ATO is $14,200. Throughout the year, his employer deducted $15,800 in PAYG tax. Will Liam receive a refund or tax bill, and for what amount?
Refund of $1,600 ($15,800 - $14,200)
A bag contains 4 red marbles and 6 blue marbles. Two marbles are drawn without replacement. What is the probability that both marbles drawn are red?
2/15 (4/10 x 3/9 = 12/90)
What is the only internationally recognised sovereign country that starts with the letter Y in English?