1) Rachel invested $10000 at 8% per annum then the time Rachel will take to make it $15000 is a. 8.25 years b. 8 years c. 7.25 years d. 6.25 years
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2) Henry buys a designer furniture set at price of $1200. He pays 25% deposit and interest in 36 months plus outstanding balance. The interest charged on balance is 12%. The amount remaining after deposit is a. $1,000 b. $1,300 c. $900 d. $1,200
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3) The income tax imposed on first $30000 is $600 and on the next $10000 income is 6%. If the chargeable income is $39200 then income tax payable is a. $1,452 b. $1,152 c. $1,252 d. $1,352
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4) Henry buys a designer furniture set at price of $1200. He pays 25% deposit and interest in 36 months plus outstanding balance. The interest charged on balance is 12%. The monthly installments will be a. $43 b. $34 c. $45 d. $56
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5) Henry and Hazel earns income of $5000. The expenses they have to meet are food $500, house loan $450, electricity, water and gas $135. telephone $50 and car maintenance $155. The total monthly expenses of Henry and Hazel are a. $1,790 b. $1,500 c. $1,390 d. $1,290
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6) Harry bought 50kg of potatoes for resale on his retailer store whereas he paid $2/kg. he expects that 5% potatoes will be rotten. If 95% profit on cost is to be obtained then selling price is a. $4.10 b. $6.20 c. $5.80 d. $7.30
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7) John invested $8000 at 6.5% per annum compound interest which is compounded daily. The amount at the end of fifth year is a. $13,960.70 b. $10,960.70 c. $11,960.70 d. $12,960.70
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8) The income tax imposed on first $90000 of income is $4000 and next $20000 is 7%. If chargeable income is $100,000 then the tax payable by the tax payers is a. $5,400 b. $6,500 c. $7,000 d. $7,200
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9) If a book is sold for $250 at 15% loss on cost then cost price of book is a. $350 b. $300 c. $365 d. $294
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10) The shopkeeper paid $80 each for two pair of shoes. He sell first pair of shoes making profit of 35% of cost price. He sell second pair of shoes at loss of 18% of cost price. The selling price of each pair of shoes respectively is a. $125, $60.7 b. $123, $69.7 c. $108, $65.6 d. $110, $68.6
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