NBT NBT Quantitative Literacy: Percentages and Financial Mathematics 5

Question 1

Amahle earns a commission of 3.5% on sales. She sells R180 000 worth of goods. What is her commission?

Accepted Answer

R6 300

Answer

R6 000

Answer

R5 400

Answer

R7 200

Question 2

A R4 500 loan attracts simple interest of R810 over a certain period at 9% per annum. For how many years was the loan?

Accepted Answer

2

Answer

1.5

Answer

3

Answer

2.5

Question 3

Goods are sold for R1 150 at a loss of 8% on cost. What was the cost price?

Accepted Answer

R1 250

Answer

R1 230

Answer

R1 265

Answer

R1 196

Question 4

A car depreciates by 15% per year from R240 000. What is its value after 2 years?

Accepted Answer

R173 400

Answer

R170 400

Answer

R177 000

Answer

R168 000

Question 5

A household spends 28% of its R35 000 monthly income on rent. How much is spent on rent?

Accepted Answer

R9 800

Answer

R9 500

Answer

R10 500

Answer

R8 750

Question 6

Which represents the best deal for a R2 400 item: 25% discount, or paying R1 750 cash?

Accepted Answer

Paying R1 750 cash

Answer

25% discount

Answer

Both are equal

Answer

Cannot be determined

Question 7

R50 000 is invested at 11% compound interest. After how many years does the investment first exceed R75 000?

Accepted Answer

4 years

Answer

3 years

Answer

5 years

Answer

6 years