Mathematics

Home > Mathematics > General Mathematics > Preliminary Course > Financial Mathematics > FM1: Earning money > Quick quiz: A sample of multiple choice questions for this topic.

FM1

If submit or reset buttons do not function, use HTML version of the quiz.

1. Chris earns an annual salary of $35 880. Her fortnightly salary is:

$690
$1380
$2990

Go ToTop

 

2. Rae worked 8 hours at normal time and 2 hours at time and a half. Her normal rate of pay is $9.70 per hour. Her pay for the above time is:

$77.60
$116.40
$106.70

Go ToTop

 

3. Paul is paid $580 per week. He receives a holiday leave loading of 17.5% for his 4 weeks holiday pay. His total holiday pay is:

$2320
$2726
$406

Go ToTop

 

4. Jo works addressing envelopes at home and is paid $25 per 100 envelopes completed, plus $50 to deliver them to the office. She has just delivered 1300 addressed envelopes. Her pay should be:

$375
$975
$325

Go ToTop

 

5. The Single under-18 study allowance is $158.80 per fortnight.

How much should this be for six months?

$952.80
$1905.60
$2064.40

Go ToTop

 

6. Kim's pay is $39 850. The deductions are $7570 for tax, $598 for medical and $13 283 for superannuation. This leaves:

$61 301
$18 399
$19 595

Go ToTop

 

7. Two companies, A and B, offer credit cards. Company A charges a mere 1.1% per month interest on unpaid amounts. Company B advertises interest at only 12.12% per annum calculated monthly.

Which company charges less interest?

Company A.
Company B.
They are the same.

Go ToTop

 

8. In one year, Kim earns $39 850 with deductions of $7570 for tax, $598 for medical and $13 283 for superannuation. This means Kim's weekly pay after deductions is:

$18 399
$707.65
$353.83

Go ToTop

 

9. A student has to reduce his weekly budget by $50 a week for five weeks to pay for some repairs to his car.

He should consider:

Not paying some of his other bills.
Pruning a little from his entertainment and junk food items.
Selling his car.

Go ToTop

 

10. On a mobile phone bill which of the following terms would always tell how much was charged to the account for the month.

Total balance.
Amount due.
Balance for this month.

Go ToTop



Neals logo | Copyright | Disclaimer | Contact Us | Help