Consumer Maths

Calculate the interest rate per month for 6.6% per annum.

• 1.1%
• 0.55%
• 0.6%
• 1.2%

Calculate the interest rate per week for 10.4% per annum

• 2%
• 1.04%
• 0.95%
• 0.2%

Calculate the simple interest for $1000 invested at 5% per annum for 3 years.

• $50
• $100
• $150
• $1500

Calculate the compound interest for $200 invested for 2 years at 6% per annum (compounded annually).

• $25.10
• $12
• $120
• $225.10

Calculate the compound interest for $1000 invested for 3 years at 6% per annum (compounded monthly), to the nearest dollar.

• $1196
• $1197
• $196
• $197

To the nearest ten dollars, calculate the compound interest for $10000 invested for 5 years at 5.2% per annum (compounded weekly).

• $12960
• $13000
• $2960
• $2970

In 2000 one-litre of milk cost $1.20. If inflation has been steady at 2% per annum since 2000, what is the price of one-litre of milk in 2016 (to the nearest 5 cents)?

• $1.20
• $1.50
• $1.65
• $1.85

The value of a photocopier is thought to depreciate at 10% per annum. To the nearest thousand dollars, what is the value of a photocopier that originally cost $20000, ten years after it was purchased?

• $1000
• $4000
• $7000
• $10000

Jake borrows $5000 and will make monthly repayments of $200 for 3 years to repay the loan (and interest). How much interest will he pay in total?

• $7200
• $2200
• $4600
• $1200

The population of Sudan is increasing at 2.5% per year. If P₀ represents the current population of Sudan, which expression represents the population of Sudan in 10 years time?

• P₀ + 2.5 x 10
• P₀ x 1.025 x 10
• P₀ x (1.025)¹⁰
• P₀ x 2.5¹⁰