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 investment of $5,000 earns simple interest at 6% per year. What is the total value after 3 years?
Answer: $5,900
Simple interest = P × r × t = $5,000 × 0.06 × 3 = $900; total = $5,000 + $900 = $5,900.
A retailer buys goods for $840 and sells them for $1,050. What is the profit margin as a percentage of selling price?
Answer: 20%
Profit = $1,050 − $840 = $210; profit margin = ($210 ÷ $1,050) × 100 = 20%.
A loan of $12,000 is taken at 8% annual interest for 2 years. What is the total amount repaid using simple interest?
Answer: $13,920
Interest = $12,000 × 0.08 × 2 = $1,920; total repayment = $12,000 + $1,920 = $13,920.
A company earns $320,000 revenue with $240,000 in costs. What is the gross profit percentage?
Answer: 25%
Gross profit = $320,000 − $240,000 = $80,000; GP% = ($80,000 ÷ $320,000) × 100 = 25%.
A bank account pays 4% annual interest compounded annually. If you deposit $2,000, how much is in the account after 2 years?
Answer: $2,163.20
Year 1: $2,000 × 1.04 = $2,080; Year 2: $2,080 × 1.04 = $2,163.20.
A salesperson earns a base salary of $2,500 per month plus 4% commission on sales. If monthly sales total $18,000, what is the total monthly income?
Answer: $3,220
Commission = 0.04 × $18,000 = $720; total income = $2,500 + $720 = $3,220.