NBT NBT Quantitative Literacy: Percentages and Financial Mathematics 1

Question 1

A jacket costs R480. During a sale it is reduced by 15%. What is the sale price?

Accepted Answer

R408

Answer

R420

Answer

R432

Answer

R448

Question 2

Thandi earns R12 500 per month. She receives a 6% salary increase. What is her new monthly salary?

Accepted Answer

R13 250

Answer

R13 000

Answer

R12 750

Answer

R13 500

Question 3

South Africa's VAT rate is 15%. An item costs R230 including VAT. What is the price before VAT?

Accepted Answer

R200

Answer

R195.50

Answer

R196.15

Answer

R207

Question 4

R5 000 is invested at 8% simple interest per year. How much interest is earned over 3 years?

Accepted Answer

R1 200

Answer

R1 298.56

Answer

R1 000

Answer

R1 500

Question 5

A shop buys goods for R640 and sells them for R800. What is the percentage profit?

Accepted Answer

25%

Answer

20%

Answer

16%

Answer

22.5%

Question 6

R8 000 is invested at 10% compound interest per annum. What is the value after 2 years?

Accepted Answer

R9 680

Answer

R9 600

Answer

R9 700

Answer

R9 800

Question 7

The exchange rate is R18.50 per US dollar. A tourist converts R5 550. How many dollars does she receive?

Accepted Answer

300

Answer

285

Answer

320

Answer

310