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YR10 FINANCIAL MATHS TOPIC QUIZ

Total questions: 30

Worksheet time: 57mins

Name
Class
Date
1.

Austin earns an annual salary of $125,000.

His fortnightly pay is:

a)

$2,403.85

b)

$5,000

c)

$4,807.69

d)

$10,416.67

2.

Janis is to be paid fortnightly instead of monthly. Her monthly income was $7,500. How much will her fortnightly income be?

a)

$3,750

b)

$3,461.54

c)

$1,730.77

d)

$90,000

3.

Teresa borrows $7,800 and pays simple interest at 12% p.a for 3 years.

How much interest does she pay?

a)

$936

b)

$1,950

c)

$2,340

d)

$2,808

4.

What is Jacinta’s net weekly income if she earns $1,843 per week and has weekly deductions of $123.50 for superannuation and $205.10 for tax.

a)

$1,514.40

b)

$1,843

c)

$2,171.60

d)

$1,637.90

5.

Amy has a weekly income of $1,295. She receives holiday loading of 17.5% for 4 weeks per year. Amy’s total holiday pay for the 4 weeks is?

a)

$906.50

b)

$226.63

c)

$6,086.50

d)

$5,180

6.

Billie earns $21.60 per hour Monday to Friday, time and a half on Saturday and double time on Sunday.

Calculate her total earnings for the week if she worked 39 hours Monday to Friday, 5 hours on Saturday and 8 hours on Sunday?

a)

$1,123.20

b)

$842.40

c)

$162

d)

$1,350

7.

Kristina is paid a retainer of $5,000 a month plus 6% commission of everything she sells. If Kristina sold $59,000 worth of items this month, what is her salary for the month?

a)

$8,540

b)

$300

c)

$3,540

d)

$64,000

8.

Use the tax table above to calculate the tax that has to be paid on a taxable income of $75,300?

a)

$16,019.50

b)

$3572

c)

$12,447.50

d)

$24,472.50

9.

Hendrix earns $14.50 per hour. How many hours will he need to work to earn $174?

a)

12

b)

13

c)

11

d)

10

10.

If the normal hourly pay rate is $25.45 per hour, the hourly rate paid when working time-and-a-half is:

a)

$63.63

b)

$50.90

c)

$25.45

d)

$38.18

11.

Bruce is paid $25.30 for each car he washes. He works for 10 hours over the weekend. How much does he make if he washed 16 cars on the weekend?

a)

$404.80

b)

$253.00

c)

$160

d)

$303.60

12.

Suzie uses her home computer to send out bulk emails for companies. She is paid $725 for the design and content of the email and $29.90 per 1000 emails she sends.

If Suzie sends 52,300 emails for a company, how much will she be paid?

a)

$2,288.77

b)

$725

c)

$2,279.80

d)

$1,563.77

13.

Jordan earns $1,200 per week. His employer deducts PAYG tax instalments of $255.60 from his weekly pay. He has no other deductions. Looking at the Tax Table, work out whether Jordan receives a Tax Refund or a Tax Debt and the amount.

a)

Tax Refund of $1255.40

b)

Tax Debt of $1464.20

c)

Tax Debt of $1255.40

d)

Tax Refund of $1464.20

14.

Aldo borrowed $6500 at 9.5% p.a simple interest for 24 months to buy a second hand car.

If he has to repay the amount in equal monthly instalments, how much is each monthly instalment?

a)

$322.29

b)

$270.83

c)

$51.46

d)

$299.48

15.

Dylan bought a car for $15300. He paid a deposit of 7.5%.

How much is the deposit?

a)

$11,475

b)

$14,152.50

c)

$1,147.50

d)

$1,625.90

16.

James earns $33.50 for every 1000 pamphlets he delivers to letterboxes. How much will he be paid if she delivers 5100 pamphlets?

a)

$167.50

b)

$170.85

c)

$3,350

d)

$5.25

17.

A new laptop computer depreciates by 30% per annum. If the computer cost $3000 new, in three years it will be worth:

a)

$329

b)

$2024

c)

$1500

d)

$1029

18.

$20,100 is invested at a rate of 6·9% compound interest, compounded annually. The value of the investment after 2 years is closest to:

a)

$22,969.50

b)

$22,873.80

c)

$24,554.39

d)

$21,486.90

19.

The interest to to be repaid on a loan of $580 over 7 months at 13·2% per annum flat rate interest is:

a)

$535.92

b)

$55.77

c)

$44.66

d)

$4466

20.

Alexis received $381 in interest after investing $5900 for 2 years Simple Interest. The interest rate in per cent per annum is closest to:

a)

0.032%

b)

3.2%

c)

7.7%

d)

6.5%

21.

Which of the below payment types uses your own money?

a)

Credit Card

b)

Term Payment

c)

Debit Card

d)

Personal Loan

22.

Per Annum means:

a)

per year

b)

per month

c)

per hour

d)

twice a year

23.

The Depreciation Formula is:

a)

A=P(1R)nA=P\left(1-R\right)^n  

b)

I=PRNI=PRN  

c)

A=P(1+R)nA=P\left(1+R\right)^n  

d)

IPR=N\frac{I}{PR}=N  

24.

The Compound Interest formula is:

a)

A=P(1R)nA=P\left(1-R\right)^n  

b)

I=PRNI=PRN  

c)

E=mc2E=mc^2  

d)

A=P(1+R)nA=P\left(1+R\right)^n  

25.

Use the tax table above to calculate the tax that has to be paid on a taxable income of $9,300?

a)

$1767

b)

$0

c)

$18200

d)

The table doesn't give me the information required to answer the question.

26.

With Simple Interest, the Interest calculated is the same each year.

(True or False)

a)

TRUE

b)

FALSE

27.

Which of the below ways of Earning Money is calculated on the number of hours worked?

a)

Piecework

b)

Commission

c)

Wage

d)

Salary

28.

$4100 is invested at 12% p.a for 3 years. Interest is compounded monthly. The total value of the investment after 3 years will be:

a)

$5760.20

b)

$5866.15

c)

$1476

d)

$5576

29.

How much would Aedan earn for making 35 hamburgers, if he is paid $2.45 per hamburger?

a)

$2.45

b)

$8.75

c)

$85.75

d)

$14.29

30.

Which job pays the most per year?

Job A: $59 700 per year

Job B: $4300 per month

Job C: $1014 per week

Job D: $15200 per quarter

a)

Job A

b)

Job B

c)

Job C

d)

Job D