Chapter 1: Reviewing number and financial mathematics

Flashcards for Chapter 1: Reviewing number and financial mathematics

Which of the following has the largest value? A 0.06 B C 60% D E 0.6̇

A value of 0.6

In its simplest form, the ratio 60c : $5 is:

3 : 25

$450 divided into the ratio 2 : 3 is:

$180 : $270

Ben rides his bike for minutes and travels 750 m. What is his average speed?

300 m/min

40c as a percentage of $2 is:

20%

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?

$11 500

How long does Kim need to invest $5000 at 4% p.a. simple interest in order to produce $100 interest?

6 months

Write 1.8 as a percentage.

180%

Write 6% as a decimal.

0.06

Write 12% as a simple fraction.

3/25

Write 0.325 as a simple fraction.

13/40

Find 30% of $12.

$3.60

Determine the original amount if 15% of the amount is $4.50.

$30

Decrease $70 by 20%.

$56

Increase $90 by 65%.

$148.50

Find the percentage change when the cost of an item decreases from $80 to $76.

5%

An item increases in value by 25% to $175. What was the original price of the item?

$140

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?

8 kg crate

Determine the profit Andrew makes on each pineapple sold.

$0.45

Express this profit as a percentage of the cost price.

36%

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?

$4.20

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?

$14

How much does Isabel earn if she works 28 hours during the week and 5 hours on the weekend?

$621.25

What is Isabel’s yearly income? (Assume 52 weeks in the year.)

$32 305

Calculate Isabel’s net income if she is to be taxed at 15% with the first $6000 tax free.

$28 359.25

How much tax does Isabel pay each week? Give your answer correct to the nearest dollar.

$76

Which of the following is not a simplified ratio?

17:51

Increasing an amount by percentage n is equal to multiplying that amount by:

(100+ n)%

If 15% is equal to $6, the original amount is equal to:

$40

The ratio of A : B is 3 : 4, the ratio of B : C is 7 : 5. Which of the following is the correct ratio of A to C?

21:20

Which of the following represents the best buy?

4kg at $102

Callum increases $x by 25%. What does Callum need to decrease this result by to return to his original amount of $x?

20%

Jenny has 1250 photos stored on her mobile phone. She wants to print 20% of these. If her photos cost 9 cents a photo to print, how much will this printing cost?

$22.50

Simplify the ratio 3 hrs : 30 mins with correct units.

6 minutes : 1 minute

Simplify the ratio 450 m : 90 cm with correct units.

500 cm : 1 cm

Simplify the ratio 63 kg : 7000 g with correct units.

9 grams : 1 gram

Simplify the ratio 8 km : 2000 cm : 300 m with correct units.

400 metres : 1 metre : 15 metres

Josh sat his English test and scored 17 out of 68. What percentage of the test was incorrect?

75%

Josh sat his English test and scored 17 out of 68. If Josh had studied, he would have scored 65% on the test. How many more marks would he have scored?

27.2

Josh sat his English test and scored 17 out of 68. It turns out the teacher had incorrectly tallied the amount of total marks possible, as it should have been marked out of 50. How many more marks would Josh need to obtain a credit grade (60% or more)?

13

Rachel earns $18.20 per hour working full time for a year (i.e. 38 hours per week for 52 weeks). Calculate her gross income.

$35 963.2

Calculate Rachel's net income after tax, given that her tax rate is 17%.

$29 849.46

Recalculate Rachel's net income, given that the first $18 000 is tax free.

$32 909.46

Find the overall percentage increase if $200 is increased by 12% in the first year then this is increased by 20% the following year, before increasing this again by 12% the next year.

50.528%

$7000 is invested at 6 1/4 % p.a., for 8 years. If the interest is calculated at a flat rate, how much interest is earned on this investment?

$3500

Sampson is looking for a part time job to save $5500 for his first investment. He has been offered two jobs but doesn’t know which one to take. Job number 1 offers $15.40 per hour for 16 hours a week for the entire year. How much does this job pay?

$12 812.80

Sampson is looking for a part time job to save $5500 for his first investment. He has been offered two jobs but doesn’t know which one to take. Job number 2 offers $17.80 per hour for 14 hours a week for the entire year. How much does this job pay?

$12 958.40

Which job should Sampson take and why?

Job two as it's more money (and shorter hours)!

If Sampson is taxed at the tax rate of 22% (after the first $6000), how much would the next income be for both jobs? Express the answers to 2 decimal places.

Job 1 $11 313.98; Job 2 $11 427.55