Financial Numeracy Flashcards
6 cards from real Numerical Reasoning practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Financial Numeracy flashcards as text
An item costs $75 to produce and is sold at a 40% markup. What is the selling price?
Answer: $105
Markup = 0.40 × $75 = $30; selling price = $75 + $30 = $105.
A mortgage of $200,000 is taken at 5% annual interest for 20 years with simple interest. What is the total interest paid?
Answer: $200,000
Total interest = $200,000 × 0.05 × 20 = $200,000.
A fund grows from $8,000 to $10,400 over 4 years. What is the average annual percentage growth (simple)?
Answer: 7.5%
Total growth = $2,400; annual growth = $2,400 ÷ 4 = $600; rate = $600 ÷ $8,000 × 100 = 7.5%.
A business has fixed costs of $15,000/month and variable costs of $12 per unit. If 2,500 units are sold at $20 each, what is the monthly profit?
Answer: $5,000
Revenue = 2,500 × $20 = $50,000; variable costs = 2,500 × $12 = $30,000; total costs = $30,000 + $15,000 = $45,000; profit = $50,000 − $45,000 = $5,000.
An investor buys 200 shares at $45 each and sells them at $52 each. What is the total profit?
Answer: $1,400
Profit per share = $52 − $45 = $7; total profit = 200 × $7 = $1,400.
A company's operating costs decrease from $180,000 to $153,000. What percentage reduction has been achieved?
Answer: 15%
Reduction = $27,000; percentage = ($27,000 ÷ $180,000) × 100 = 15%.