Financial Math
$6000 is invested in an account that earns simple interest at the rate of 3.5% per annum.
The total interest earned in the first four years is
(a) $70
(b) $84
(c) $210
(d) $840
(d) $840
An unbiased coin is tossed 10 times.
A tail is obtained on each of the first 9 tosses.
What is the probability that a tail is obtained on the 10th toss?
(A) 1/210
(B) 1/2
(C) 1/10
(D) 9/10
A measurement of 72 cm is increased by 20% and then the result is decreased by 20%.
What is the new measurement, correct to the nearest centimetre?
(A) 46 cm
(B) 69 cm
(C) 72 cm
(D) 104 cm
(B) 69cm
What is the value of (a - b)/4, if a = 240 and b = 56 ?
(a) 4
(b) 46
(c) 226
(d) 736
(b) 46
A high school has 100 students in each year group, Year 7 to Year 12. A survey is to be conducted to determine the average number of text messages sent per month by students at the school.
Which of the following would provide the most representative sample for this survey?
(A) All Year 7 students
(B) All physics students in Year 11 and 12
(C) 20 students chosen at random from each year group
(D) 120 students chosen at random from the school roll
(c) 20 students chosen at random from each year group
Jane sells jewellery. Her commission is based on a sliding scale of 6% on the first $2000 of her sales, 3.5% on the next $1000, and 2% thereafter.
What is Jane’s commission when her total sales are $5670?
(a) $188.40
(b) $208.40
(c) $321.85
(d) $652.05
(b) $208.40
In a survey of 200 randomly selected Year 12 students it was found that 180 use social media.
Based on this survey, approximately how many of 75 000 Year 12 students would be expected to use social media?
A. 60 000
B. 67 500
C. 74 980
D. 75 000
(b) 67 500
The length of a window is measured as 2.4 m.
Which calculation will give the percentage error for this measurement?
(a) 0.05/2.4 x 100
(b) 0.05/100 x 2.4
(c) 0.5/2.4 x 100
(d) 0.5/100 x 2.4
(a) 0.05/2.4 x 100
What is the value of x in the equation (5 - x)/3 = 6
(a) -13
(b) -3
(c) 3
(d) 13
A survey asked the following question for students born in Australia:
"Which State or Territory were you born in?"
How would the responses be classified?
(a) Categorical, ordinal
(b) Categorical, nominal
(c) Numerical, discrete
(d) Numerical, continuous
(b) Categorical, nominal
Tian is paid $20.45 per hour, as well as a meal allowance of $16.20 per day.
What are Tian's total earnings if she works 9 hours per day for 5 days?
(a) $329.85
(b) $936.45
(c) $1001.25
(d) $1649.25
(c) $1001.25
A bag contains some marbles. The probability of selecting a blue marble at random from this bag is 3/8.
Which of the following could describe the marbles that are in the bag?
(A) 3 blue, 8 red
(B) 6 blue, 11 red
(C) 3 blue, 4 red, 4 green
(D) 6 blue, 5 red, 5 green
(d) 6 blue, 5 red, 5 green
A path 1.5 metres wide surrounds a circular lawn of radius 3 metres.
What is the approximate area of the path?
(A) 7.1 m²
(B) 21.2 m²
(C) 35.3 m²
(D) 56.5 m²
Calculate the BAC of a male who consumed 4 standard drinks in 3.5 hours and weighs 68 kgs, correct to 2 decimal places.
(a) 1.03
(b) 0.03
(c) 0.04
(d) 0.01
(b) 0.03
A survey of which of the following would provide data that are both categorical and
nominal?
(a) Hair colour
(b) Height in centimetres
(c) Number of people present at a concert
(d) Size of coffee cup classified as small, medium or large
(a) Hair colour
Rae paid $40 000 for new office equipment at the start of the 2013 financial year.
At the start of each following financial year, she used flat rate depreciation to revalue her equipment.
At the start of the 2016 financial year she revalued her equipment at $22 000.
The annual flat rate of depreciation she used, as a percentage of the purchase price, was
(a) 11.25%
(b) 15%
(c) 17.5%
(d) 35%
(b) 15%
Four cards, labelled 2, 3, 5 and 7, are placed on a table to form a four‑digit number.
How many different numbers greater than 3000 can be formed?
(A) 6
(B) 12
(C) 18
(D) 24
(c) 18
In a household of 4, each member uses an average of 13 minutes of hot water per day.
The household uses a 9 kW hot water unit.
Electricity is charged at 11.97 c/kWh when the hot water unit is being used.
What is the electricity cost for the hot water used by this household in one week?
(A) $1.63
(B) $6.54
(C) $392.14
(D) $653.56
(B) $6.54
What is the gradient of the following line.
2y + 8x - 2 = 0
(a) 8
(b) 4
(c) -2
(d) -4
The mean of a set of 5 scores is 62.
What is the new mean of the set of scores after a score of 14 is added?
(A) 38
(B) 54
(C) 62
(D) 76
(b) 54
Using a tax table, determine the tax payable on a taxable income of $47 000.
(a) $8310.40
(b) $9109.60
(c) $9110.00
(d) 10310.40
(c) $9110
Each time she throws a dart, the probability that Mary hits the dartboard is 2/7 .
She throws two darts, one after the other.
What is the probability that she hits the dartboard with both darts?
(a) 1/21
(b) 4/49
(c) 2/7
(d) 4/7
(B) 4/49
Using the field diagram.
What is the area of the field, using four applications of the Trapezoidal’s rule?
(a) 105 m²
(b) 136 m²
(c) 210 m²
(d) 420 m²
(a) 105 m2
A plumber charges a call-out fee of $90 as well as $2 per minute while working.
Suppose the plumber works for t hours.
Which equation expresses the amount the plumber charges (C) as a function of time (t hours)?
(a) C= 2 + 90t
(b) C = 90 + 2t
(c) C=120 + 90t
(d) C= 90 + 120t
(d) C= 90 + 120t
The height of each student in a class was measured and it was found that the mean height was 160 cm.
Two students were absent. When their heights were included in the data for the class, the mean height did not change.
Which of the following heights are possible for the two absent students?
(A) 155 cm and 162 cm
(B) 152 cm and 167 cm
(C) 149 cm and 171 cm
(D) 143 cm and 178 cm
(c) 149cm and 171cm