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Original Title: Form Four Term Two Worksheet Three Consumer Arithmetic.pdf

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Term 2

Worksheet Three

Consumer Arithmetic

Total Possible Marks: 30

SECTION 1

Each item in this section has four suggested responses lettered (a), (b), (c), (d). Read each

item carefully and decide which response is best. On your answer sheet, write the letter

which corresponds to the choice you have made next to the number of your question.

Calculators must NOT be used in this section. All working must be shown for marks to be

awarded.

1. The simple interest on $400 invested for 5 years at 7 per cent per annum is:

4005

40075

1005

10075

(a)$

(b)$

(c)$

(d)$

7

100

4007

400

2. In a bank, the interest rate on investments decreased from 9 percent per annum to 8

percent per annum. The difference in annual interest on a deposit of $3000 is

(a) $50

(b) $160

(c) $190

(d) $45

3. If the cost of posting a 10kg parcel is $24.50, what is the cost of posting a parcel

weighing 6kg?

(a) $30.50

(b) $147

(c)$16

(d)$14.70

4. By selling an article for $320, the profit was 20% of the cost price. What was the cost

price of the article?

(a) $300

(b) $266.66

(c) $256

(d) $240

5. How many Jamaican dollars are equivalent to US $85, if US$1=JA$72.50?

(a) $6162.50

(b) $157.50

(c)$1.17

(d) $0.85

6. A salesman works for a basic salary of $4000 per week plus a commission of 15% for

his sales for the week. If his sales were $60,000 in a week, what was his total salary for

that week?

(a) $13000

(b) $9000

(c) $8400

(d) $5000

7. An electric bill is $5025. If there is a fixed charge of $1500 and 235kwh were used,

what is the rate per kWh?

(a) $39.41

(b) $37.50

(c) $15.00

(d)$35

8. $250 is invested at 15% compound interest. What is the interest at the end of three

years?

(a) $130.21

(b) $137.50

(c) $125.00

(d) $112.00

9. The cost of a telephone call is $30.00 for the first 3 minutes and $9.00 for each

additional minute. What is the cost of a telephone conversation which lasted for 10

minutes.

(a) $39

(b) $99

(c) $93

(d) $1.53

Every Child Can Learn Mathematics, Every Child Must Learn Mathematics, Every Child Will Learn Mathematics

10. A mans annual income is $90,000. His tax-free allowances total $26,000. He has to pay

a tax of 30% on his taxable income. The tax payable is

(a) $7800

(b) $27,000

(c)19,200

(d) $34,800

Total: 10 marks

SECTION 2

All working must be shown for marks to be awarded.

Calculators may be used in this section.

1. Jan/June 2008

(a) 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)

(2 marks)

(ii)

Calculate the difference between the total hire purchase price and the

cash price.

(iii)

(1mark)

(2 marks)

(i)

On a vacation in Canada, Steve used his credit card to buy a camera for

CAN$250.00 what is the value of the camera in Jamaican dollars?

(2 marks)

(ii)

many Canadian dollars does he have left on his credit card for

spending?

(3 marks)

Total: 10 marks

(a) The basic wage earned by a truck driver for a 40-hour week is $560.00

(i)

(1 mark)

For overtime work, the driver is paid one and a half times the basic hourly rate.

(ii)

(iii)

Calculate the TOTAL wages earned by the truck driver for a 55 hour

week

(2 marks)

(3 marks)

(b) In a certain company, a salesman is paid a fixed salary of $3140 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)

(1 mark)

(ii)

(2 marks)

(iii)

(1 mark)

Total: 10 marks

Every Child Can Learn Mathematics, Every Child Must Learn Mathematics, Every Child Will Learn Mathematics

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