NBT NBT Quantitative Literacy: Percentages and Financial Mathematics 2

Question 1

A phone originally priced at R3 200 is discounted by 12.5%. What is the discounted price?

Accepted Answer

R2 800

Answer

12.5% of R3 200 = R400, so R3 200 − R400 = R2 800.

Question 2

A store marks up goods by 40% on cost. If the cost price is R350, what is the selling price?

Accepted Answer

R490

Answer

40% of R350 = R140; selling price = R350 + R140 = R490.

Question 3

Which of the following represents a 20% increase on R750?

Accepted Answer

R900

Answer

20% of R750 = R150; R750 + R150 = R900.

Question 4

Sipho's electricity bill was R420 in January and R525 in February. What is the percentage increase?

Accepted Answer

25%

Answer

Increase = R105; % increase = (105 ÷ 420) × 100 = 25%.

Question 5

VAT is 15%. A customer pays R34.50 for milk including VAT. What did the milk cost before VAT?

Accepted Answer

R30

Answer

R34.50 ÷ 1.15 = R30.

(NBT) National Benchmark Test Practice Test