Consumer Arithmetic

John's Gross Salary = $ 273,000

Tax Allowance = $ 73,000

Tax Rate = 25%

How much is John's Net Income?

• $50,000

• $68,250

• $150,000

• $223,000

Sally earns a salary of $50,000 but pays tax at a rate of 24%. How much money does she spend in taxes?

• $12,000

• $13,000

• $14,000

• $15,000

Greg has a basic wage of $2500 for a 40-hour work week. If he works overtime, he is given $80 per hour. How much is he paid if he works 52.5 hours in a certain week?

• $2580

• $2850

• $3460

• $3500

A company offers a basic rate of $20 per hour and overtime is paid at a time and a half. The basic work week in the company is set at 40 hours. A worker who worked for 43 hours should get a weekly wage of?

• $800

• $830

• $860

• $890

A basic rate at a company is $14 per hour. Workers working overtime are given double time pay. If the basic wage is $x a worker who works 5 hours overtime would get a weekly wage in dollars of?

• x+5

• x+10

• x+140

• x+280

If TT$7.00 is equivalent to US$1.00, then TT$17.50 in US dollars is

• $2.25

• $2.50

• $105.00

• $122.50

A house is insured at annual rate of 3 cents on every $1. What would be the premium per year if the house is worth $250,000?

• $3000

• $6500

• $6600

• $7500

Barry and Donald invested $4000 and $6000 respectively. They both get the same rate of 5% per annum on this investment. After 6 years, Barry collected his interest. How long should Donald wait to receive the same interest value?

• 4 years

• 4.5 years

• 5 years

• 8 years

What is the total amount of money owed on a loan of $12,000 at a simple interest rate of 6% per annum after 5 years?

• 720
• 3000
• 15600
• 9000

A real estate agent sells a house for $480,000. He receives a commission of 2% on the first 400,000 and 10% on the remainder. His commission for the sale is?

• $8000

• $16000

• $80000

• $160000