Managing money

Commission is...

• ...pay based on a percentage of sales made.

• ...pay based on a fixed number of hours worked.

• ...pay based on a fixed yearly amount.

• ...pay based on the number of items produced.

Salary is...

• ...pay based on a percentage of sales made.

• ...pay based on a fixed number of hours worked.

• ...pay based on a fixed yearly amount.

• ...pay based on the number of items produced.

Amir is paid 9.50 Euros per hour for a standard 36 hour week. He is paid 'time-and-a-half' for all overtime worked. Calculate his gross income for a week when we works 40 hours.

• 399 Euros

• 380 Euros

• 570 Euros

• 20748 Euros

Sarah's salary is 45,000 Euros per year. The following income tax is payable on her salary: 4783.25 Euros plus 28% of any salary over 34,000. Work out her total income tax.

• 9520 Euros

• 126,000 Euros

• 7863.25 Euros

• 37,136.75 Euros

Krista invests $1400 in a bank account with 1.2% per annum simple interest. How much will she have in her account after 4 years?

• $1467.20

• $67.20

• $16.80

• $1332.80

If you invest an amount at 6% simple interest per annum. How long will it take your original amount to double

• 17 years

• 16 years

• 6 years

• 12 years

A sofa is advertised for 600 Euros cash or 24 monthly payments of 32 Euros per month. What is the difference between the hire-purchase price and the cash price?

• 568 Euros

• 768 Euros

• No difference

• 168 Euros

Jonah takes out a business loan of 2000 euros with an interest rate of 4% compounded yearly. He repays the loan in full after 2 years. How much does he repay after 2 years?

• 2160 Euros

• 2163.20 Euros

• 2080 Euros

• 1843.20 Euros

Oleksandra invests $30,000 in a savings account with a fixed compound interest rate of 0.8% per annum. How much money will she have in her account after 15 years?

• $33600

• $8588.92

• $95165.07

• $33808.76

Which of the following statements is correct?

• profit = selling price - cost price

• profit = cost price - selling price

• cost price = profit - selling price

• selling price = profit - cost price