Chapter 1: Computation and financial maths
Test A (50 marks)
Name: ___________________________________
Part A – Multiple-choice (10 marks)
2
1 3 × (−5) − (6 + 4 ÷ (−2)) evaluates to:
A −4 B −13 C −19
D −23 E −29
2 4.7058 written to three significant figures is:
A 4.706 B 4.70 C 4.705
D 4.71 E 4.75
5
3 As a decimal, 3 is equal to:
12
A 3.416 B 3.4̇ 16 C 3.416̇
D �����
3.416 E �������
3.416
4 Which of the following has the largest value?
5
A 0.06 B C 60%
8
7
D E 0.6̇
11
5 In its simplest form, the ratio 60c : $5 is:
A 60 : 5 B 3 : 20 C 1:8
D 3 : 25 E 6 : 50
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6 $450 divided into the ratio 2 : 3 is:
A $180 : $270 B $160 : $240 C $150 : $300
D $150 : $250 E $200 : $250
1
7 Ben rides his bike for 2 minutes and travels 750 m. What is his average speed?
2
A 150 m/min B 250 m/min C 300 m/min
D 350 m/min E 500 m/min
8 40c as a percentage of $2 is:
A 12% B 20% C 24%
D 30% E 40%
9 Helen invests $10 000 in a simple interest bank account that pays 5% annually.
How much will be in her bank account after 3 years?
A $10 150 B $11 500 C $12 000
D $12 500 E $13 000
10 How long does Kim need to invest $5000 at 4% p.a. simple interest in order
to produce $100 interest?
A 2 months B 1 year C 3 months
D 2 years E 6 months
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Part B – Short-answer (24 marks)
1 a Write 1.8 as a percentage. _________________________________
b Write 6% as a decimal. _________________________________
c Write 12% as a simple fraction. _________________________________
d Write 0.325 as a simple fraction. _________________________________
(4 × 1 = 4 marks)
2 Evaluate the following using your calculator, giving your answer as a mixed
number when appropriate.
5 8
a + __________________________________________________________
12 9
2 6
b ÷ __________________________________________________________
5 7
1 5
c 2 −1 __________________________________________________________
4 8
4 1
d 1 ×3 __________________________________________________________
5 3
(4 × 1 = 4 marks)
3 a Find 30% of $12.
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b Determine the original amount if 15% of the amount is $4.50.
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(1 + 2 = 3 marks)
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4 a Decrease $70 by 20%.
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b Increase $90 by 65%.
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c Find the percentage loss when the cost of an item decreases from $80 to $76.
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d Caleb bought a painting from a garage sale for $12 and sold it at a local
weekend market for $27. Calculate the percentage profit made by Caleb on
the resale of this painting.
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e An item increases in value by 25% to $175. What was the original price of
the item?
_______________________________________________________________________________________
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(1 + 1 + 2 + 2 + 2 = 8 marks)
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5 Calculate the annual income for:
a John the dentist who earns $4278 per fortnight
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b Salib who works as a part-time translator and charges $28.73 per hour. He
averages 30 hours a week, 32 weeks a year.
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c Jerry who earns $7688 a month as an accounts clerk.
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( 1 + 2 + 2 = 5 marks )
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Part C – Extended-response (16 marks)
1 Andrew owns a greengrocer’s store. Every morning he goes to the market and
purchases fruit and vegetables, which he then sells at his store.
a When at the market one morning, Andrew sees a 6 kg crate of oranges for $7.50
and an 8 kg crate of oranges for $9.20. Which is better value?
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Andrew purchases pineapples at the market for $1.25 each. When he returns to his
store, he sells the pineapples for $1.70.
b Determine the profit Andrew makes on each pineapple sold.
_____________________________________________________________________________________
c Express this profit as a percentage of the cost price.
_____________________________________________________________________________________
d Andrew buys punnets of strawberries for $3 at the market and marks up the
price by 40% when he sells them in his store. How much is a punnet of
strawberries in Andrew’s store?
_____________________________________________________________________________________
e Andrew purchases a crate of extra-ripe bananas that have been discounted
by 25%. If the sale price of the bananas is $10.50, what was their original price?
_____________________________________________________________________________________
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(2 + 1 + 1 + 2 + 2 = 8 marks)
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2 Isabel is an employee at Andrew’s greengrocer’s store. Her regular hourly rate is
$17.50, and on weekends she is paid at time-and-a-half.
a How much does Isabel earn if she works 28 hours during the week and 5 hours
on the weekend?
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b What is Isabel’s yearly income? (Assume 52 weeks in the year.)
_____________________________________________________________________________________
c Calculate Isabel’s net income if she is to be taxed at 15% with the first $6000
tax free.
_____________________________________________________________________________________
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d How much tax does Isabel pay each week? Give your answer correct to the
nearest dollar.
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<EXT>
e Isabel has saved $2000. She invests the money for 3 years in an account that
pays interest at 4.5% compounding annually.
How much interest has she earned at the end of the three years? Give your
answer correct to two decimal places.
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(2 + 1 + 2 + 1 + 2 = 8 marks)
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