Multiple Choice questions. The value of 117 x (-3)

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Multiple Choice questions. The value of 117 x (-3)
Multiple Choice questions.
1.
The value of 117 x (-3) - 1 is:
a)
351
b)
350
c)
-352
d)
113
2.
The fraction 10/16 expressed as a decimal is:
a)
0.160
b)
0.600
c)
0.100
d)
0.625
3.
The value of 0.327 - 0.159 + 1.643 is:
a)
2.129
b)
1.811
c)
1.157
d)
-1.475
4.
The value of 3/16 + 1/4 - 3/8 is:
a)
1/2
b)
29/24
c)
5/12
d)
1/16
5.
The value of (1/3 + 3/4) x (2 + 1/4) is:
a)
9/12
b)
17/14
c)
39/16
d)
9/4
6.
Three adults and two children went to a football match. Each adult paid $9.50 and the
total bill was $36.50. The amount paid for each child was:
a)
$3.50
b)
$4.50
c)
$5.50
d)
$4.00
7.
The stamp duty on a sale of property is approximately 2.5% of the selling price. If a
house sold for $260,000, how much did the state government receive in stamp duty
from the sale?
a)
$6,500
b)
$65,000
c)
$650
d)
$6,500 plus GST
8.
In 1999, Japan invested $48.9 billion in Australia. If Australia invested 28.1% of this
amount back into Japan, how much did Australia invest in Japan?
a)
$13.7 billion
b)
$10.7 billion
c)
$174.6 billion
d)
$137 billion
FNSACC303A Perform financial calculations
Page 1 of 4
9.
Helen works on a commission basis only, earning 4.25% on all sales, and just
received a cheque for $3,476. What were her month’s sales?
a)
$362,373
b)
$147,730
c)
$333,429
d)
$81,788
10.
An electric fan was reduced to $51 after a 15% discount had been applied. What was
the original price of the fan?
a)
$58.65
b)
$95.35
c)
$60.00
d)
$43.35
11.
The fraction 5/16 converted to a percentage is:
a)
32%
b)
5%
c)
3.125%
d)
31.25%
12.
Jenny Chen, a sales representative, earns a straight 7.5% commission on gross
sales value. How much would she have to sell in order to earn $487.50 commission?
a)
$3,656
b)
$65
c)
$650
d)
$6,500
13.
A broker charges customers a fixed fee of $75 plus 3.5% of the amount of
investments made. If a customer invests $15,000 through the broker, the total
brokerage payable is:
a)
$600
b)
$5,325
c)
$480
d)
$127.50
14.
A store is selling a massage chair for $1,163.50, after been discounted by 35%,
The normal price is:
a)
$1,204.22
b)
$3,324.29
c)
$1,790.00
d)
$1,570.73
15.
An electronics store marks up its hand held computer games by 45% over the price it
pays the supplier. If the store sells these games for $36.25, the price it pays the
supplier is:
a)
$16.31
b)
$19.94
c)
$34.69
d)
$25.00
16.
A service station buys brake pads for $36 from the supplier and sells them for
$41.40. The mark-up is:
a)
15.0%
b)
5.04%
c)
13.04%
d)
54.0%
FNSACC303A Perform financial calculations
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17.
Mr Karanasos is awaiting the time when his $5,625 deposit receiving 8% p.a. simple
interest will reach maturity value of $10,000. How long must Mr Karanasos wait (to
one decimal place)?
a)
5 years
b)
5.5 years
c)
9.7 years
d)
12 years
18.
Mr Nguyen wanted to ensure he was well looked after at retirement and calculated
that he needed $500,000 at age 65 years to live comfortably. How much (to the
nearest dollar) should Mr Nguyen invest today if he retires in seven years and a
simple interest rate of 8.5% p.a. applies?
a)
$313,480
b)
$297,500
c)
$186,520
d)
$202,500
19.
The simple interest earned on $35,000 deposited at a rate of 6.5% p.a. for a period of
5 years and 3 months is:
a)
$11,943.75
b)
$2,275.00
c)
$12,057.50
d)
$1,194.38
20.
A bank lends Barbara Salgado $10,000 which must be paid at the end of 1 year
when $10,281.25 will be due. The annual simple interest rate the bank is charging is:
a)
5.75%
b)
2.81%
c)
7.50%
d)
3.75%
21.
A newsagent wants to have an amount of $25,000 in 6 years when she retires. She
can invest her money at a simple interest rate of 8.75% p.a. How much money (to the
nearest dollar) should she invest now to achieve her aim?
a)
$16,393
b)
$17,482
c)
$15,000
d)
$23,041
22.
A dentist borrows $27,000 to be repaid monthly over 3 years. There is a flat rate of
interest of 7.25%. The total simple interest on the loan is:
a)
$1,957.50
b)
$5,872.50
c)
$5,000.00
d)
$19,575.00
23.
What is the simple interest (i) and compound interest (ii) received for a $2,000
principal at 8% pa over four years?
a)
(i) $640
(ii) $2,271
b)
(i) $2,640 (ii) $2,271
c)
(i) $6400 (ii) $721
d)
(i) $640
(ii) $721
FNSACC303A Perform financial calculations
Page 3 of 4
24.
A lawyer invests $13,000 at an interest rate of 4.0% pa, compounded annually. The
accumulated value (to the nearest dollar) earned after 5 years is:
a)
$15,260
b)
$15,500
c)
$15,816
d)
$15,600
25.
Using the same information as the above question, the amount of compound interest
earned (to the nearest dollar) after 5 years is:
a)
$2,260
b)
$2,816
c)
$2,500
d)
$2,600
26.
The cost of a car service was $7,512.80 excluding GST. How much GST needs to be
added assuming it is 10%?
a)
75.12
b)
512.80
c)
682.98
d)
751.28
27.
The amount of $4,890.50 is inclusive of 10% GST. How much is GST in this amount?
a)
48.90
b)
90.50
c)
444.59
d)
489.05
28.
Using the below income tax table for the 2010/2011 financial year, what is the tax
payable on taxable income of $18,500?
a)
$7,875
b)
$4,125
c)
$1,875
d)
$900
29.
Last year Jenny’s gross income was $98,700 and her allowable deductions were
$3,200. Using the below income tax table for the 2010/2011 financial year, calculate
Jenny’s amount of tax due:
a)
$23,285
b)
$5,735
c)
$24,525
d)
$17,550
30.
The value of 6 3/8 when converted to an improper fraction is?
a)
51/8
b)
18/8
c)
8/18
d)
9/8
Taxable income
Tax on this income 2010/2011
0 – $6,000
Nil
$6,001 – $37,000
15c for each $1 over $6,000
$37,001 – $80,000
$4,650 plus 30c for each $1 over $37,000
$80,001 – $180,000
$17,550 plus 37c for each $1 over $80,000
$180,001 and over
$54,550 plus 45c for each $1 over $180,000
FNSACC303A Perform financial calculations
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