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Form Four

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)

What is the TOTAL hire purchase price of the bicycle?

(2 marks)

(ii)

Calculate the difference between the total hire purchase price and the
cash price.

(iii)

(1mark)

Express your answer in (ii) above as a percentage of the cash price


(2 marks)

(b) 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 the camera in Jamaican dollars?
(2 marks)

(ii)

Steves credit card limit is JA$30,000.00. After buying a camera how


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

(3 marks)
Total: 10 marks

2. May 2009/Jan 2010


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

Calculate his hourly rate


(1 mark)

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

(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)

His fixed salary for the year

(1 mark)

(ii)

The amount he received in commission for the year

(2 marks)

(iii)

His TOTAL income for the year

(1 mark)
Total: 10 marks

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