Profits and Discounts
Decrease $68 by 78%
$14.96
Tom earns $12.70 an hour. How much does he earn for 8 hours of work?
$101.60
“Just keep swimming.”
Finding Nemo
John has a gross income of $45 000 and a net income of $20 000. How much did his deductions come to?
$25000
What is the simple interest formula?
Interest = Principal x Rate x Number of Years (I=PRN)
A manufacturer produces an item for $400 and sells it for $540. Determine the profit made.
$140
Talib earns $16 697.20 per year at a fast-food restaurant. What is his fortnightly pay?
$642.00
"To Infinity and Beyond"
Toy Story
Liam has an annual salary of $52 800. His payslip each month shows deductions for taxation of $968. Calculate Liam’s net income each month.
$3432
Calculate the simple interest earned if the principal is $1000, the rate is 5% p.a. and the time is 3 years.
$150
Lenny marks up all computers in his store by 12.5%. If a computer cost him $890, what will be the selling price of the computer?
$1001.25
A saleswoman is paid a retainer of $1500 per month. She also receives a commission of 1.25% on the value of goods she sells. If she sells goods worth $5600 during the month, calculate her earnings for that month.
$1570
’I feel the need – the need for speed.’
Top Gun
Using the tax table, find the income tax payable on a salary of $80000.
$17 547
Wally invests $15 000 at a rate of 6% p.a. Calculate the total amount available at the end of 3 years.
$17 700
A TV costs a manufacturer $250 to make and is sold for $280. Calculate the percentage profit
12% Profit
A job has a normal working hours pay rate of $9.20 per hour. Calculate the pay, including overtime, for 10 hours at the normal rate, 8 hours at time and a half and 3 hours at double time
"Some people are worth melting for."
Frozen
Ed earns $1400 per week and pays 27% of his annual income in tax. Calculate the amount of income tax that Ed pays in one year.
$19 656
Annie invests $22 000 at a rate of 4% p.a. for 27 months. Calculate the simple interest earnt
$1980
A refrigerator is discounted by 25%. If Paula pays $460 for it, what was the original price? Round to the nearest cent.
$613.33
Jim, a part-time gardener, earned $261 in a week. If he w orked 12 hours during normal working hours and 4 hours overtime at time and a half, what was his hourly rate of pay?
$14.50 per hour
“My mama always said life was like a box of chocolates. You never know what you're gonna get.”
Forrest Gump
William earns $450 a week. Using the tax table, determine how much tax is deducted from his pay each week.
$19
Wendy wins $5000 during a chess tournament. She wishes to invest her winnings, and has the two choices given below. Which one gives her the greater total at the end of the time? Choice 1: 8.5% p.a. simple interest for 4 years Choice 2: 8% p.a. simple interest for 54 months
Choice 2