Consumer_arithmetic

CONSUMER ARITHMETIC Bills Discounts 1) A tailor charges $360 for a suit of clothes but allows a discount of 5% for cash. What is the cash price? 2)

The cost price of a refrigerator is $1850. What will a buyer who is given a discount of 5% for cash purchase pay?

3)

Mr. Duncan bought a table at a discount of 30% off the marked price, thus saving $42. What was the marked price of the table?

4)

Each dress in a store was marked $3.00 off the original price. A woman paid $46.00 for 2 dresses that had the same sale price. What was the original price of one dress?

Tax 1) A lady buys a table which is priced at $800 plus sales tax. How much will she pay for the table if the rate of tax is 10%? 2) How much does a customer pay for an article marked at $50.00 if a sales tax of 6% is charged? 3) A plot of land is valued at $1800. 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?

Shopping Bills 1) The table shows Pamela’s shopping bill. Some of the information was not included. Items Quantity Unit Price / $ Total Cost / $ Rice 6 ½ kg 2.40 [W] Potatoes 4 bags 52.80 [X] Milk 2.35 14.10 [ Y ] cartons Sub Total 82.50 9.90 [ Z ] % VAT TOTAL 92.40 Calculate the values of W, X, Y and Z.

June 2011

Utility Bills 1) For his electricity, Mr. Jones pays a fixed charge of $12.50. He also pays 50 cents for each kWh of electricity used. How much did he pay for using 75 kWh of electricity? A) $30.00 B) $37.50 C) $50.00 D) $87.50 2) Electricity Bill Meter Reading (kWh) Previous Present 1542 1735 First 100 units cost 50 cents per unit. Next 50 units cost 40 cents per unit. Remaining units cost 30 cents per unit. Meter rental = $25

3) If the rate per litre of water used is $2, and the consumer uses 300 litres for the month of February 2011, what is the amount due, if a service charge of $50 is also charged? 4) Determine the telephone bill for the following households. Fixed charge for Each additional Name 3 minutes or less minute Mr. Ali $8 $2 Miss Monroe $10 $0.50

Form 4 Mathematics Worksheet

Number of minutes 12 2

1 2

Rental $24.50 $34.99

Compiled by Melissa Harrichandsingh

Percentage Profit and Loss 1) An article was bought for $125 and sold for $175. What was the percentage profit? 2) Calculate the profit percentage on an item if its cost price is $1.50 and its selling price is $1.80. 3) Calculate the loss percentage on an item if its cost price is $6.53 and its selling price is $5.88. 4) The table below shows the cost price, selling price, and profit or loss as a percentage of the cost price. Copy and complete the table below, inserting the missing values at (i) and (ii).

5) (i) (ii

Cost Price

Selling Price

Percentage Profit or Loss

$55.00

$44.00 $100

25% profit

June 2012

) 6) Mrs. Jack bought 150 T-shirts for $1920 from a factory. FC (i) Calculate the cost of ONE T-shirt. CXC The T-shirts are sold at $19.99 each. Calculate June 2010 (ii) the amount of money Mrs. Jack received after selling all of the T-shirts. (iii) the TOTAL profit made. (iv) the profit made as a percentage of the cost price, giving your answer to the nearest whole number.

Hire Purchase 1) Derek bought a new bike on hire purchase. He paid a deposit of $50 and has to pay 10 monthly installments of $20. What is the total hire purchase price of the car? 2) January 2008 The cash price of a bicycle is $319.95. It can be bought on hire purchase by making a deposit of $69.00 and 10 monthly installments of $28.50 each. (i) What is the TOTAL hire purchase price of the bicycle? (ii) Calculate the difference between the total hire purchase and the cash price. (iii) Express your answer in (ii) above as a percentage of the cash price. 3) January 2004 The cash price of a dining room suite with a table and six identical chairs is $880. If the price of the table is $250, what is the price of EACH chair? The dining room suite may be bought on hire purchase for a deposit of $216 plus monthly payments of $35 for a period of two years. Calculate (i) the total hire purchase price of the suite (ii) the extra cost of buying on hire purchase as a percentage of the cash price.

Currency 1) June 2012 The table shows some rates of exchange: US $1.00 = EC $2.70 TT $1.00 = EC $0.40 Calculate the value of (i) EC $1 in TT $ (ii) US $80 in EC $ (iii) TT $648 in US $ 2) January 2009 (i) Karen exchanged BD $2000 and received EC $2700. Calculate the value of one BD$ in EC$. (ii) If Karen exchanged EC $432 for BD$, calculate the amount which Karen would receive. Form 4 Mathematics Worksheet

3) June 2008 (I) In this question, use CAN $1.00 = JA $72.50. (i) On a vacation, in Canada, Steve used his credit card to buy a camera for CAN $250.00. What is the value of his camera in Jamaican dollars? (ii) Steve’s credit card limit is JA $30 000. After buying the camera, how many Canadian dollars does he have left on his credit card for spending? 4) June 2006 GUY $1.00 = US $0.01 EC $1.00 = US $0.37 Calculate the value of Compiled by Melissa Harrichandsingh

(i) GUY $60 000 in US$

(ii) US $925 in EC$

WAGES Overtime 1) The basic wage earned by a truck driver for a 40 hour week is $560.00 (i) Calculate his hourly rate For overtime work, the driver is paid one and a half times the basic hourly rate (ii) Calculate his overtime wage for 10 hours of overtime. (iii) Calculate the total wages earned by the truck driver for a 55 hour week. June 2009

2) Mr. Jones works for a basic wage of $15 per hour for a 40 hour week. (i) If Mr. Jones worked only 40 hours during a particular week, what was his wage for that week? (ii) Mr. Jones’ wage for the next week was $960. If overtime is paid at double time, how many hours of overtime did he work? Jan 2002

Commission 1) A salesman is paid 5% of his sales as commission. He made sales of $2020. How much commission was he paid? A) $11.00 B) $20.20 C) $101.00 D) $110.00 2) A salesman sells a car for $11 000. If he is paid a commission of 4.5% for the first $10 000 and 7.5% on the remainder, then what is the commission he receives? 3) In a certain company, a salesman is paid a fixed salary of $3 140 per month plus an annual commission of 2% on the TOTAL value of cars sold for the year. If the salesman sold cars valued at $720 000 in 2009, calculate (i) his fixed salary for the year Jan 2010 (ii) the amount he received in commission for the year (iii) his TOTAL income for the year.

Income Tax 1) Frank is a married man who earns $15 000 per annum. He has two children, aged 15 and 10 years, and a dependent relative whom he helps to support. He also gets an allowance for National Insurance. Calculate (i) his total allowances (ii) his taxable income If income tax is levied at 30% per annum, calculate (iii) the amount he pays in income tax.

Single person’s allowance: $1200 Married person’s allowance: $2000 Child under 11 years old: $300 Child 11 – 16 years old: $400 Child over 16 if in full time education: $500 Dependent relative: $200 National Insurance: $100

2) June 2008 (II) Mr. Allen has a wife and three children. His monthly salary during the year 2007 was $7500. (i) Calculate his annual salary Information on calculating income tax for 2007 is shown in the table below: Allowances Tax rate Husband $10 000 Wife $5 000 22% of the taxable income Each child $2 500 Taxable Income = Annual Salary – Total Allowances (ii) Calculate Mr. Allen’s TOTAL allowances for 2007. (iii) Calculate Mr. Allen’s income tax for 2007. (iv) What percentage of Mr. Allen’s annual salary was paid in income tax?

3) A man’s annual income is $45 000. His tax-free allowances total $13 000. He has to pay a tax of 30% on his taxable income. The tax payable is A) $3900 B) $9600 C) $13500 D) $17400

Form 4 Mathematics Worksheet

Compiled by Melissa Harrichandsingh

Interest / Depreciation

Formula for simple interest

SI = Simple Interest

P × R ×T SI= 100

P = Principal R = Rate T = Time in years

R A=P 1+ 100

(

Formula for compound interest

n

)

A = Total money accrued P = Principal R= Rate n = number of years

Formula for depreciation

R A=P 1− 100

(

n

)

1) Find the total amount of money accrued after making the following investments with simple interest: a) $34,100 at 4% for 3 years b) $210 at 8% for 1 year c) $4,000 at 3% for 9 months d) $20,600 at 8% for 2 years 2) a) How long would it take for $500 to increase to $750 at 10% simple interest per annum? b) How long would it take for $800 to increase to $992 at 6% simple interest per annum? c) How long would it take for $625 to double in value at 8% simple interest per annum? d) What rate of simple interest is needed for $600 to increase to $800 in 2 years? 3) Find the total amount of money accrued after making the following investments with compound interest: a) $34,100 at 4% for 3 years b) $210 at 8% for 1 year c) $4,000 at 3% for 9 months d) $20,600 at 8% for 2 years 4) Find the total amount of money which will remain after the following sums depreciate: a) $34,100 at 4% for 3 years b) $210 at 8% for 1 year c) $4,000 at 3% for 9 months d) $20,600 at 8% for 2 years 5) A loan of $12000 was borrowed from a bank at 14%per annum. Calculate (i) the interest on the loan at the end of the first year. (ii) the total amount owing at the end of the first year. A repayment of $7 800 was made at the start of the second year. Calculate (iii) the amount still outstanding at the start of the second year. (iv) the interest on the outstanding amount at the end of the year.

Jan 2006

7) The table below gives information on the value s and the rates of depreciation in value of two motor vehicles. Motor Vehicle Taxi Private Car

Initial Value $40 000 $25 000

Calculate (i) the values of p and q (ii) the value of the taxi after two years

Form 4 Mathematics Worksheet

Yearly Rate of Depreciation 12 % q%

Value after One Year $p $21 250

June 2006

Compiled by Melissa Harrichandsingh