Chapter 4: Math Applications - Math Mcqs for Grade 8 - Set 4

1)   The television is priced at $10,000. A deposit of 16% on simple interest of 11% per year over 2 year and repayments paid monthly then the total hire purchase of television is

a. $15,048
b. $12,048
c. $13,048
d. $14,048
Answer  Explanation 

ANSWER: $12,048

Explanation:
No explanation is available for this question!


2)   The exchange rate between Japanese Yen and Euro on specific day is 1 Yen to 2.4 Euros. The Euros that are equivalent to 450 Japanese Yen are

a. 2060 Japanese Yens
b. 2050 Japanese Yens
c. 2080 Japanese Yens
d. 1080 Japanese Yens
Answer  Explanation 

ANSWER: 1080 Japanese Yens

Explanation:
No explanation is available for this question!


3)   If a handbag is sold for $2000 at gain of 20% on cost price then the cost is

a. $1,666
b. $2,666
c. $3,666
d. $1,850
Answer  Explanation 

ANSWER: $1,666

Explanation:
No explanation is available for this question!


4)   Michael wants to borrow some money for 48 months at 11% interest per year and pay $1950 in interest charges for his business expansion. The amount he could borrow is

a. $4,432
b. $5,432
c. $6,532
d. $6,832
Answer  Explanation 

ANSWER: $4,432

Explanation:
No explanation is available for this question!


5)   The compound interest on $7500 for 1 year at 8.5% per annum which is compounded monthly is

a. $363
b. $636
c. $663
d. $366
Answer  Explanation 

ANSWER: $663

Explanation:
No explanation is available for this question!


6)   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 monthly saving as %age of income is

a. 38%
b. 28.67%
c. 32.67%
d. 35%
Answer  Explanation 

ANSWER: 28.67%

Explanation:
No explanation is available for this question!


7)   Harry borrows $3000 for 5 years at rate of 8% per annum. The simple interest he has to pay is

a. $2,250
b. $1,200
c. $1,500
d. $1,800
Answer  Explanation 

ANSWER: $1,200

Explanation:
No explanation is available for this question!


8)   The general formula used to calculate interest is

a. principal x rate x time⁄100
b. principal x 100 x time⁄rate
c. 100 x rate x time⁄principal
d. principal x rate x 100⁄time
Answer  Explanation 

ANSWER: principal x rate x time⁄100

Explanation:
No explanation is available for this question!


9)   Henry put A$9000 in one year US$ fixed deposit account with bank at 5% simple interest per annum when exchange rate was at US$1 = A$3.5. The amount he invested in US dollars is

a. 2971.43
b. 2871.43
c. 2671.43
d. 2571.43
Answer  Explanation 

ANSWER: 2571.43

Explanation:
No explanation is available for this question!


10)   The interest payable is dependable on

a. percentage rate
b. time
c. principal
d. all of above
Answer  Explanation 

ANSWER: all of above

Explanation:
No explanation is available for this question!


11)   If the tax payable is $8000 for 8 months at rate of 16% then annual value of real estate property is

a. $85,000
b. $75,000
c. $78,000
d. $89,000
Answer  Explanation 

ANSWER: $75,000

Explanation:
No explanation is available for this question!


12)   Jane invests $15000 at 5% per annum compound interest which is compounded daily. If a year is equal to 365 days then the amount at the end of fifth day is

a. $15,010.28
b. $18,010.28
c. $16,010
d. $14,010
Answer  Explanation 

ANSWER: $15,010.28

Explanation:
No explanation is available for this question!


13)   In public library, 30% of books are classified as fiction and remainder as non-fiction. There are total 2400 more non-fiction books than fiction books. The total number of books in library is

a. 7000
b. 6000
c. 5000
d. 4000
Answer  Explanation 

ANSWER: 6000

Explanation:
No explanation is available for this question!


14)   By converting the US$350 into Australian dollars whose buying rate is 2.03, the answer in A$ will be

a. A$710.5
b. A$810.5
c. A$750.5
d. A$780.5
Answer  Explanation 

ANSWER: A$710.5

Explanation:
No explanation is available for this question!


15)   The annual value of real estate property is $165,000. The tax payable for period of 10 months at rate of 18% is

a. $24,750
b. $28,750
c. $30,750
d. $32,750
Answer  Explanation 

ANSWER: $24,750

Explanation:
No explanation is available for this question!


16)   Hazel borrowed $250000 for 7 years at interest rate of 12% per year. The interest he must have to pay is

a. $240,000
b. $250,000
c. $210,000
d. $230,000
Answer  Explanation 

ANSWER: $210,000

Explanation:
No explanation is available for this question!


17)   In 2012, Jennifer earned gross annual income of $75000. She is entitled to following reliefs: personal $3500; wife $2500; 2 children $1500 each, life insurance premiums =$15,400 and gifts to charitable income = $25,350 then Jennifer's income tax is

a. $2,175.50
b. $2,075.50
c. $1,875.50
d. $1,975.50
Answer  Explanation 

ANSWER: $1,875.50

Explanation:
No explanation is available for this question!


18)   If refrigerator cash price is $1050 and shop owner offers it on 15% deposit plus 24 monthly payments then the price refrigerator offered by shop is

a. $1,517.50
b. $1,717.50
c. $1,817.50
d. $1,917.50
Answer  Explanation 

ANSWER: $1,717.50

Explanation:
No explanation is available for this question!


19)   Marry bought 180 mugs at $60 per dozen. If he sells each mug for $8 then profit as percentage of selling price is

a. 32.50%
b. 37.50%
c. 38.50%
d. 40%
Answer  Explanation 

ANSWER: 37.50%

Explanation:
No explanation is available for this question!