Financial Maths Quiz

A store reduces the price of goods in a sale. What word is the best word to describe the difference between the original price and the sale price?

• Markup

• Profit

• Loss

• Discount

Susan buys a watch for $130 and sells it for $190. What word is best to describe the $60 difference?

• Interest

• Overtime

• Profit

• Loss

To increase $68 by 12% you would multiply by

•  $0.88$  
  

•  $0.12$  
  

•  $1.12$  

•  $\frac{68}{12}$  
  

An electrical store makes a 90% profit on the cost price of every item it sells. If the store buys a DVD recorder from the manufacturer for $145, what is their selling price?

• $161.10

• $130.50

• $275.50

• $306.11

During a price war unleaded petrol was discounted from $1.60 per litre to $1.36 per litre. What percentage discount (based on the original price) is this?

• 1.5%

• 15%

• 17.6%

• 24%

Sandra borrows $7 800 and pays simple interest on the principal for 3 years at 12% p.a. How much interest does she pay?

• $936

• $1 950

• $2 340

• $2 808

Karen buys a Blue Ray player at the sale shown.

She paid $280 for the player.

What was its normal price before the sale?

• $300

• $336

• $350

• $1400

Bree borrows $8 500 at 4% pa simple interest for 2 years. How much does she have to pay back in total?

(a)  

Dianne invested $16 000 at 9% pa simple interest for a period of time and earned $8640 in interest. For how long was the money invested?

• 3 years

• 4 years

• 5 years

• 6 years

Lisa wants to earn $1 000 in interest in 5 years. The best simple interest rate that she can find is 16% p.a. How much would she need to invest to achieve her aim of $1 000 in interest?

• $1 250

• $1 500

• $1 750

• $2 000