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Student Book - Series J-2

Consumer Arithmetic

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Consumer arithmeticStudent Book - Series J 2

Contents

Topics

Topic 1 - Earning money __/__/__ Date completed

Topic 2 - Income tax __/__/__ Topic 3 - Budgeting and spending money __/__/__ Topic 4 - Simple interest __/__/__ Topic 5 - Compound interest __/__/__ Topic 6 - Depreciation, profit and loss __/__/__ Topic 7 - Hire purchase __/__/__

Consumer arithmeticMathletics Instant Workbooks – Series J 2 Copyright © 3P Learning

Author of The Topics and Topic Tests: AS Kalra

Practice Tests

Topic 1 - Topic test A __/__/__ Topic 2 - Topic test B __/__/__

1

Consumer arithmetic


Topic 1: Earning money

22 EXCEL ESSENTIAL SKILLS: YEAR 9 MATHEMATICS REVISION AND EXAM WORKBOOK 2 – EXTENSION

Consumer arithmeticCHAPTER 3

UNIT 1: Earning money

EXCEL YEARS 9 & 10 INTERMEDIATE MATHS

Page 1

QUESTION 1a John’s annual salary is $43 550. How much

is he paid each week?

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c Jenny earns $659 a week. What is herannual wage? (1 year = 52 weeks)

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e A man is paid a basic rate of $14.70 perhour. Calculate his hourly overtime rate ofpay when this is paid at:i time-and-a-half

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ii double time

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QUESTION 2a Adrian gets $875.80 per week. As a result of

an indexation decision, his award isincreased by 4.5%. Find his new weeklywage.

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b Angela works a basic week of 40 hours andher hourly rate of pay is $12.50. Calculateher weekly wage.

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d Michael works for 35 hours a week and hisweekly wage is $756. Find his hourly rateof pay.

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f James is paid $860 for a 40-hour week. Heworks 6 hours overtime at time-and-a-half.What is his total income for the week?

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b Michelle gets an annual salary of $48 630.40.

If she receives 17 %12 holiday loading on the

4-week holiday pay period, calculate:i her normal pay for 4 weeks.

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ii her holiday loading.

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iii her holiday pay for 4 weeks.

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2

Consumer arithmetic


23Chapter 3: Consumer arithmetic

Consumer arithmeticUNIT 2: Income tax

QUESTION 1 The tax payable on taxable income is set out in the table below.


Page 3

a Find her taxable income. b Calculate the amount of tax due.

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c If she pays $169 per week in tax, how much refund should she receive for the year?______________________________________________________________________________________

a Balder’s taxable income was $32 000.

i What tax was payable on his income of$32 000?

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ii What percentage of taxable income waspaid in tax? Answer correct to 2 decimalplaces.

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iii How much did Balder take home eachweek after tax had been deducted?(1 year = 52 weeks)

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QUESTION 2 Use the table given above to work out the following.

b Mary has a taxable income of $13 829.

i Find the tax payable.

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ii Gary’s taxable income is $6768 morethan that of Mary. Find how much moretax Gary pays than Mary.

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Jill’s gross income is $28 560. Her total deductions are $3640.

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Taxable income

Topic 2: Income tax

3

Consumer arithmetic



Consumer arithmeticUNIT 3: Budgeting and spending money

QUESTION 1Jaspal works in a bank and his take-home pay is$634.65 per fortnight. His expenses are given inthe table opposite.

a What is Jaspal’s annual take-home income?

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b What are his savings per fortnight?

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c How much can he save towards his holidayseach year?

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Pages 3–4

QUESTION 2 Gloria goes to a store to buy a sewing machine with a marked price of $265. Themanager agrees to give her a discount of 10% if she pays the total amount in cash.Find the price Gloria pays for the machine.

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QUESTION 3 Raja was a dentist and needed furniture for his surgery. He bought $6000 worth offurniture from David Jones on hire-purchase by paying 10% deposit and $540 a monthfor 1 year. How much extra did he have to pay?

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dooF 59$

enohpeleT 53$

gnihtolC 08$

raC 57$

tnemniatretnE 46$

sesnepxerehtO 82$

sgnivaS ...$

latoT 56.436$

Topic 3: Budgeting and spending money

4

Consumer arithmetic



Consumer arithmeticUNIT 4: Simple interest

QUESTION 1 Find the simple interest for each of the following.

a $1500 at 8% p.a. for 1 year b $5000 at 7% p.a. for 5 years

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c $8000 at 9% p.a. for 10 years d $3600 at 15% p.a. for 6 months

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e $10 500 at 8 %12 p.a. for 3 months f $25 000 at 12.25% p.a. for 3 years

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Page 5

QUESTION 2 Find the length of time for:

a $500 to be the interest on $1800 at 6% p.a. b $850 to be the interest on $2400 at 8% p.a.

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QUESTION 3 Find the rate percent per annum for:

a $1500 to be the interest on $5400 for 5 years b $900 to be the interest on $2700 for 2 years

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QUESTION 4 Find the principal required for:

a the simple interest to be $900 on an amountinvested for 2 years at 10% p.a.

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b the simple interest to be $250 on an amountinvested for 1 year at 9% p.a.

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Topic 4: Simple interest

5

Consumer arithmetic



Consumer arithmeticUNIT 5: Compound interest

QUESTION 1 Using the compound interest formula, calculate the total amount at the end of thestated period.


a $5000 at 8% p.a. for 3 years, compoundedannually.

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c $1200 at 7% p.a. for 9 months, compoundedmonthly.

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e $2500 at 15% p.a. for 2 years, compoundedfortnightly.

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b $8500 at 9 %12 p.a. for 5 years, compounded

annually.

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d $3200 at 10.25 % p.a. for 2 12 years,

compounded 3-monthly.

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f $15 000 at 10% p.a. for 3 years,compounded annually.

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QUESTION 2 Using the compound interest formula, work out the amount of interest earned at theend of the stated period.

a $6000 at 9% p.a. for 4 years, compoundedannually.

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b $18 000 at 14% p.a. for 2 years,compounded 6-monthly.

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Topic 5: Compound interest

6

Consumer arithmetic



Consumer arithmeticUNIT 6: Depreciation, profit and loss

QUESTION 1 A car depreciates in value at an annual rate of 10%. If it costs $28 000 when new,calculate:

a its value after 4 years. b its depreciation in 4 years.

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QUESTION 2 A machine costs $35 000 when new but it depreciates at an annual rate of 12%.

a Calculate its value at the end of 15 years. b How much is the depreciation?

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QUESTION 3 During a clearance sale, a discount of 3 133 % is given on a dinner set marked at $2799.

Find its selling price.

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QUESTION 4 Bakshi bought a second-hand car for $4000 and spent $860 repairing it. If he sold thecar for $5750, find:

a his gain as a percentage of the cost price. b his gain as a percentage of the selling price.

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______________________________________ ______________________________________

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QUESTION 5 By selling a mobile phone for $560 a shopkeeper made a profit of 20%. What was hiscost price?

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____________________________________________________________________________

____________________________________________________________________________

Topic 6: Depreciation, profit and loss

7

Consumer arithmetic



Consumer arithmeticUNIT 7: Hire purchase

QUESTION 1 A motor car advertised for $6990 is sold under the following terms: 40% deposit andthe balance repaid over 5 years at $32 per week. (52 weeks = 1 year)

a Calculate the deposit required. b Find the amount paid as interest.

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QUESTION 2 Kate buys a boat listed at $8500 for 10% deposit and repayments over 2 years at11% p.a. on the balance.

a Calculate the total cost. b Find the monthly repayment.

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QUESTION 3 Mariam decides to buy a stereo marked at $600. She pays 20% deposit and the balanceover two years, with interest charged at 15% p.a. on the balance.

a Find the deposit paid. b Calculate the balance owing.

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c Calculate the interest paid. d Find the total amount of the instalments tobe repaid.

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e What is the monthly repayment?

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QUESTION 4 Jean buys a house for $190 000, pays a deposit of $50 000, and then pays off the balanceat $850 per month for 25 years. Find:

a the total cost of the home. b the average yearly interest paid.

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Consumer arithmetic EXCEL YEARS 9 & 10 INTERMEDIATE MATHS

Page 6

Topic 7: Hire purchase

8Consumer arithmeticMathletics Instant Workbooks – Series J 2 Copyright © 3P Learning

Consumer arithmeticTopic Test PART A

Marks

Total marks achieved for PART A 10

Instructions This part consists of 10 multiple-choice questions Each question is worth 1 mark Attempt ALL questions Calculators are NOT to be used Fill in only ONE CIRCLE for each question

Time allowed: 15 minutes Total marks = 10


Consumer arithmeticTOPIC TEST SECTION 1

Instructions for SECTION 1 • You have 15 minutes to answer Section 1• Each question is worth 1 mark• Attempt ALL questions• Calculators are NOT to be used• Fill in only ONE CIRCLE for each question

Marks

Total marks achieved for SECTION 110

1 Which potatoes are the cheapest per kilogram?

A 1 kg for 45 c B 2.5 kg for $1.00 C 5 kg for $2.50 D 10 kg for $4.25

2 A shopkeeper buys a TV for $300 and sells it for $450. His profit as a percentage ofthe cost price is:

A 150% B 50% C 33% D 66 23 %

3 Jason was paid $252 for 14 hours work. What was his hourly rate of pay?

A $16 B $17 C $18 D $19

4 An agent gets a commission of 12.5%. If the sales are $6400, how much is thecommission?

A $192 B $224 C $768 D $800

5 $500 invested for 2 years at 10% compound interest p.a. becomes:

A $600 B $605 C $670 D $680

6 Danielle buys $25 worth of petrol. If the petrol costs 69.7 cents per litre, how manylitres did she buy?

A 0.36 L B 2.79 L C 35.9 L D 1742.5 L

7 The tax on a salary of $28 355, paid at $4383.68 plus 46 cents for each $1 in excess of$17 894, is:

A $19 910.49 B $9195.74 C $827 507.68 D $22 323.68

8 John paid $88 for a jumper after a discount of 45%. How much did he save?

A $39.60 B $48.40 C $72 D $160

9 6% of an amount is $300. The amount is:

A $18 B $50 C $1800 D $5000

10 In one week Susan worked 40 hours at normal rate and 2 hours overtime at doubletime. If she earned $345.60 in that week, her hourly rate is:

A $7.20 B $7.85 C $8.23 D $8.64 1

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Consumer arithmetic



Instructions for SECTION 1 • You have 15 minutes to answer Section 1• Each question is worth 1 mark• Attempt ALL questions• Calculators are NOT to be used• Fill in only ONE CIRCLE for each question

Marks


1 Which potatoes are the cheapest per kilogram?

A 1 kg for 45 c B 2.5 kg for $1.00 C 5 kg for $2.50 D 10 kg for $4.25

2 A shopkeeper buys a TV for $300 and sells it for $450. His profit as a percentage ofthe cost price is:

A 150% B 50% C 33% D 66 23 %

3 Jason was paid $252 for 14 hours work. What was his hourly rate of pay?

A $16 B $17 C $18 D $19

4 An agent gets a commission of 12.5%. If the sales are $6400, how much is thecommission?

A $192 B $224 C $768 D $800

5 $500 invested for 2 years at 10% compound interest p.a. becomes:

A $600 B $605 C $670 D $680

6 Danielle buys $25 worth of petrol. If the petrol costs 69.7 cents per litre, how manylitres did she buy?

A 0.36 L B 2.79 L C 35.9 L D 1742.5 L

7 The tax on a salary of $28 355, paid at $4383.68 plus 46 cents for each $1 in excess of$17 894, is:

A $19 910.49 B $9195.74 C $827 507.68 D $22 323.68

8 John paid $88 for a jumper after a discount of 45%. How much did he save?

A $39.60 B $48.40 C $72 D $160

9 6% of an amount is $300. The amount is:

A $18 B $50 C $1800 D $5000

10 In one week Susan worked 40 hours at normal rate and 2 hours overtime at doubletime. If she earned $345.60 in that week, her hourly rate is:

A $7.20 B $7.85 C $8.23 D $8.64 1

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Consumer arithmetic

Total marks achieved for PART B 15

Marks

Consumer arithmeticTopic Test PART B

9Consumer arithmeticMathletics Instant Workbooks – Series J 2 Copyright © 3P Learning

Instructions This part consists of 15 questions Each question is worth 1 mark Attempt ALL questions Calculators may be usedTime allowed: 20 minutes Total marks = 15

Questions Answers only



Instructions for SECTION 2 • You have 20 minutes to answer ALL of Section 2• Each question is worth 2 marks• Attempt ALL questions• Calculators may be used

Marks


1 An electrician charges $13.85 per hour. Find the charge forlabour if he works from 11:20 a.m. till 2:50 p.m. ___________________

2 A bicycle is bought for $360 and sold for $430.What is the profit? ___________________

3 Find the simple interest on $1500 at 10% p.a. for 2 years. ___________________

4 A salesman gets $200 per week plus 3% commission onhis sales during the week. How much will he earn in aweek if he sells $5000 worth of goods? ___________________

5 A merchant buys 250 toy dolls for $1500 and sells them at aprofit of 40%. Find the selling price of each doll. ___________________

6 Jim bought a car with a marked price of $5000. He paid adeposit of $500 and 36 monthly payments of $175 each.Find the total amount paid by Jim for the car. ___________________

7 How much more than the marked price did Jim pay? ___________________

8 A television on sale for $2400 was reduced in price by 40%.Later the discounted price was increased by 40%.What was the final price? ___________________

9 Taxation is charged as $9107 plus 47 cents for each $1 over$35 000. Find the tax payable on a taxable income of $40 000. ___________________

10 Sandy earns $762 for a 53-hour working week.What rate is this per hour? ___________________

11 Increase $1550 by 12 %12 . ___________________

12 Pam worked 40 hours plus 8 hours overtime attime-and-a-half on Saturday. Altogether she earned $852.80.What is her hourly rate? ___________________

13 An employee is paid an annual salary of $58 000. What is hermonthly salary? ___________________

14 A man earns $20.50/h. How much will he earn for 40 hours? ___________________

15 Michael earns $25.80 per hour. Overtime is paid attime-and-a-half. What is his overtime rate? ___________________

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Consumer arithmetic




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11 Increase $1550 by 12 %12 . ___________________





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11 Increase $1550 by 12 %12 . ___________________





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Consumer arithmetic

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