Prelim Standard 2 Budgeting and Household Expenses

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To determine the retail price of an item, a shop owner increases its cost price by 30%. In a sale, the retail price is reduced by 30% to give the sale price.How does the sale price compare to the cost price?

1 point

The sale price is less than the cost price.

The sale price is the same as the cost price.

The sale price is more than the cost price.

It is impossible to compare without knowing the cost price.

Clear selection

Jim is the driver at fault in a car accident. Which of the following is covered by Jim’s compulsory third-party (CTP) insurance?

1 point

Repairs to Sam’s car

Injury to the other driver

Damage to the other driver’s car

Cost of repairing a building damaged in the accident

Clear selection

Jim earns a gross income of $890 per week. Each week, 25% of this income is deducted in taxation. Jim budgets to save 20% of his net income. How much does he budget to save each week?

1 point

$44.50

$133.50

$489.50

$534.00

Clear selection

Mary is 18 years old and has just purchased comprehensive motor vehicle insurance. The following excesses apply to claims for at-fault motor vehicle accidents. How much would Mary be required to pay as excess if she made a claim as the driver at fault in a car accident?

1 point

$1600

$850 + $400

$850 + $1600

$850 + $1600 + $400

Clear selection

The stamp duty on a car is calculated using the table below. Calculate the stamp duty that Luke needs to pay when he buys a car worth $35000.

1 point

$1050

$1350

$1400

$1550

Clear selection

A car's petrol consumption (C) in litres/lOO km can be estimated by using the formula: C = 0.01S² - S + 33 where S is the speed (in km/h) at which the car is being driven. What is the change in petrol consumption if the speed at which a car is being driven increases from 60km/h to 80km/h?

1 point

A decrease of 8 L/100km

An increase of 8 L/100km

A decrease of 17 L/100km

An increase of 13.2 L/100km

Clear selection

Jim borrows $60 000 for a luxury motor vehicle. Interest is calculated at a flat rate of 9.75% p.a. After one month he makes his first repayment of $1 312.50. How much does he owe after one month?

1 point

$58 687.50

$59 175.00

$58 231.00

$59 343.50

Clear selection

Emma is the driver at fault in a car accident. Which of the following is covered by Emma’s compulsory third-party (CTP) insurance?

1 point

Repairs to Emma’s car

Injury to the other driver

Damage to the other driver’s car

Cost of repairing a building damaged in the accident

Clear selection

Which of the following is not covered by comprehensive car insurance in an accident?

1 point

Injury to the other driver.

Damage to the other driver’s car.

Repairs to own car.

Cost of repairing a damaged building or property caused by an accident with own car

Clear selection

Mitchell is going to buy a car and downloads data on fuel efficiency for three models. In a test drive, he drives all three cars for 40 km on city roads and 120 km on country roads. Based on the data, which car would use the least fuel on the test drive?

1 point

The Firenze would use the least fuel

The Firenze and the Tacoma are equal in using the least amount of fuel

The Firenze and the Vortex are equal in using the least amount of fuel

The Tacoma would use the least fuel

Clear selection

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