Quiz about Consumer Arithmetic

Question 1

Calculate the simple interest earned on $ 400 at 5% for 3 years

Accepted Answer

$60

Answer

$20

Answer

$400

Answer

$460

Question 2

A dress costs $340 but is on sale at a discount of 15% how much will the customer pay for the dress

Accepted Answer

289

Answer

240

Answer

300

Answer

340

Question 3

Billy buys the ingredients for a cake. The ingredients cost $10. He sells the cake for $7. What is Billy's selling price?

Accepted Answer

$7

Answer

$17

Answer

$10

Answer

His time.

Question 4

What is the percentage profit if Tony buys a watch for $50 and sells it for $60?

Accepted Answer

20%

Answer

25%

Answer

16.6%

Answer

16.7%

Question 5

You are making $780 per week. How much will you earn in a year?

Accepted Answer

$40,560

Answer

$45,060

Answer

$20,280

Answer

$9360

Question 6

Sam owns a T-shirt printing business. His expenses are $4 per shirt. Sam sells each shirt for $10. He sold 327 shirts last month. How much total profit did Sam make on T-shirts last month?

Accepted Answer

$1,962

Answer

$327

Answer

$1,308

Answer

$989

Question 7

If TT$6.00 is equivalent to US$1.00, then TT$15.00 in US dollars is

Accepted Answer

$2.50

Answer

$0.25

Answer

$0.40

Answer

$4.00

Question 8

A man bought a calf for $200 and sold it for $250

What was his gain as a percentage of the cost price?

Accepted Answer

25%

Answer

5%

Answer

15%

Answer

20%

Question 9

During a sale, a shop allows 20% discount off the marked price of clothing. What will a customer pay for a dress with a marked price of $300?

Accepted Answer

$240

Answer

$100

Answer

$200

Answer

$300

Question 10

How much does a customer pay for an article marked at $500.00 if a sales tax of 6% is charged?

Accepted Answer

$530.00

Answer

$440.00

Answer

$470.00

Answer

$560.00

Question 11

A plot of land is valued at $18 000. Land tax is charged at a rate of $0.70 per $100. What is the total amount of tax to be paid for the land?

Accepted Answer

$126.00

Answer

$110.00

Answer

$180.70

Answer

$257.15

Question 12

Sue bought a calculator for $1200. She had to pay a sales tax of 10% on the price. How much change would she receive from $1400?

Accepted Answer

$80.00

Answer

$120.00

Answer

$280.00

Answer

$320.00

Question 13

$600 is invested at simple interest for 2 years earns $96. What is the rate of interest per annum?

Accepted Answer

8%

Answer

1/8%

Answer

3 1/8%

Answer

12 1/2%

Question 14

A customer buys a table on hire purchase . She makes a deposit of $306 and pays six monthly payments of $60. The TOTAL cost to the customer is

Accepted Answer

$666

Answer

$360

Answer

$366

Answer

$966

Question 15

In how many years would $100 invested at 5% per annum simple interest amount to $160?

Accepted Answer

12

Answer

8

Answer

16

Answer

32

Question 16

A radio valued at $200 is marked up by 10%. At a sale 10% is taken off the marked price. What was the final selling price of the radio?

Accepted Answer

$198

Answer

$180

Answer

$200

Answer

$220

Question 17

What percentage of 30 is 6?

Accepted Answer

20

Answer

5

Answer

18

Answer

150

Question 18

A goat was bought for $9500 and sold at a profit of 32%. What was the selling price?

Accepted Answer

$12540

Answer

$3040

Answer

$6460

Answer

$12700

Question 19

A man bought a pair of shoes at a sale. He pays $600, saving $150 on the normal price. The percentage discount on the shoes is

Accepted Answer

20%

Answer

25%

Answer

33 1/3%

Answer

80%

Question 20

A loan of $8000 was paid back in 2 years in monthly payments of $400.00. The percentage profit on the loan was

Accepted Answer

20%

Answer

5%

Answer

8 1/3%

Answer

15%

Question 21

The value of a car depreciates by 5% each year. How much, to nearest ten dollars will a car bought for $5000 be valued after 2 years?

Accepted Answer

$4510

Answer

$3750

Answer

$45000

Answer

$4990

Question 22

John is paid $30 per hour up to 40 hours for regular time. Overtime, that is, above 40 hours, he is paid twice the regular rate.

How much will John receive for overtime work if he worked 15 hours overtime?

Accepted Answer

$900

Answer

$300

Answer

$450

Answer

$600

Question 23

A television set cost $3500. When bought on hire purchase, a deposit of $350 is required, followed by 12 monthly payments of $300. How much is saved by paying cash?

Accepted Answer

$450

Answer

$100

Answer

$250

Answer

$400

Question 24

A salesman is paid 5% of his sales as commission. His sales for last month were $20200. How much commission was paid?

Accepted Answer

$1010

Answer

$110

Answer

$202

Answer

$1100

Question 25

A man budgets 25% of his salary for his home, 55% to be banked and the remainder to be spent. How much does he spend if his salary is $5400?

Accepted Answer

$1080

Answer

$4320

Answer

$800

Answer

$4600

Question 26

If five cakes which cost $30 each are sold for $135, then the loss per cent is

Accepted Answer

10%

Answer

30%

Answer

35%

Answer

105%

Question 27

The selling price of all goods in a store were marked up by 25%.

During a sale, a 25% discount was given on all marked prices. How does the discount prices compare with the selling prices before the mark up?

Accepted Answer

The discount price was less than the selling price

Answer

They were the same

Answer

The discount price was more than the selling price

Answer

Enough information has not been given in order to make a decision

Question 28

A man has a taxable income of $120 000 per year. His income tax calculated at 25% per annum is

Accepted Answer

$30000

Answer

$2500

Answer

$3000

Answer

$10000

Question 29

The simple interest on $12 000 for 6 months at 20% per annum is

Accepted Answer

$1200

Answer

$3600

Answer

$4000

Answer

$14 400

Question 30

A machine valued at $20 000 depreciates by 10% per annum. What is its value after 2 years?

Accepted Answer

$16200

Answer

$16000

Answer

$18 000

Answer

$24200

Question 31

If $2000 is invested at 5% per annum compound interest. In which year will the investment amount to $2205

Accepted Answer

2nd

Answer

1st

Answer

3rd

Answer

4th

Question 32

What will be the value of $1000 invested at 20% compound interest for two years?

Accepted Answer

$1440

Answer

$400

Answer

$1400

Answer

$40 000

Question 33

A retail store has an average 500 persons passing through on a daily basis. On average 35% make a purchase. How many people on average make a purchase?

Accepted Answer

175

Answer

35

Answer

325

Answer

535

Question 34

Paul works $800 per hour, as part of a wage bargaining agreement he received a 5.8% increase in his rate. Calculate the increase in dollars.

Accepted Answer

$46.40

Answer

$40

Answer

$805.80

Answer

$846.40

Question 35

If 15% of a sum of money is $54, what is the total amount of money?

Accepted Answer

$360

Answer

$8.10

Answer

$69.00

Answer

$810

Question 36

Sammy got 3 out of 5 questions correct. The percentage he got correct was

Accepted Answer

60%

Answer

25%

Answer

40%

Answer

75%

Question 37

A shopkeeper bought a 20 pound box of salt fish which cost $160. He sold the salt fish at $10 a pound. His profit as a percentage of the cost price was

Accepted Answer

25%

Answer

40%

Answer

65%

Answer

80%

Question 38

For every 3 votes that John received, Paula received 5.

If Paula received 80 votes, how many votes did John receive?

Accepted Answer

48

Answer

30

Answer

50

Answer

77

Question 39

What is the simple interest on $2000.00 for 3 years at 12% per annum?

Accepted Answer

$720.00

Answer

$36.00

Answer

$360.00

Answer

$72.00

Question 40

A washing machine can be bought on hire purchase terms of a deposit of $768 and 12 monthly payments of $74. What is the total hire purchase price?

Accepted Answer

$1656

Answer

$854

Answer

$888

Answer

$1566

Question 41

The hire purchase cost of a radio is $6355. If the deposit is a $1000 and the balance is to be paid in 9 equal installments, each installment will be

Accepted Answer

$595

Answer

$635.50

Answer

$706.10

Answer

$817.20

Question 42

It is the consumers responsibility to do which of the following?

Accepted Answer

all of the above

Answer

use products properly

Answer

speak up about likes and dislikes

Answer

take action to have a wrong corrected

Question 43

The ______ is the original amount of money invested, which will grow over time

Accepted Answer

principal

Answer

interest

Answer

installment credit

Answer

non-installment credit

Question 44

You lend $240 to your friend.  He pays you back $270.  What interest rate did you charge your friend?

Accepted Answer

12.5%

Answer

88%

Answer

20%

Answer

10%

Question 45

Discount is ____________ from the price.

Accepted Answer

subtracted

Answer

added

Answer

divided

Answer

multiplied

Question 46

Sam bought an $85.00 jacket for 40% off of the regular price. How much did he pay for the jacket? (Hint- you're finding the sale price)

Accepted Answer

51

Answer

75

Answer

36

Answer

34

Question 47

The regular price of a sofa is $600. If there sales tax is 6%, how much will the sofa cost?

Accepted Answer

$636.00

Answer

$594.00

Answer

$480.00

Answer

$606.00

Question 48

Find the final cost of the item: $50 item; $10 coupon off; 10% sales tax

Accepted Answer

$ 44

Answer

$ 45

Answer

$10

Answer

$55

Consumer Arithmetic

50 questions

Calculate the simple interest earned on $ 400 at 5% for 3 years

A dress costs $340 but is on sale at a discount of 15% how much will the customer pay for the dress

Billy buys the ingredients for a cake. The ingredients cost $10. He sells the cake for $7. What is Billy's selling price?

What is the percentage profit if Tony buys a watch for $50 and sells it for $60?

You are making $780 per week. How much will you earn in a year?

Sam owns a T-shirt printing business. His expenses are $4 per shirt. Sam sells each shirt for $10. He sold 327 shirts last month. How much total profit did Sam make on T-shirts last month?

If TT$6.00 is equivalent to US$1.00, then TT$15.00 in US dollars is

A man bought a calf for $200 and sold it for $250
What was his gain as a percentage of the cost price?

During a sale, a shop allows 20% discount off the marked price of clothing. What will a customer pay for a dress with a marked price of $300?

How much does a customer pay for an article marked at $500.00 if a sales tax of 6% is charged?

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