Prelim Standard 2 Earning and Managing Money 1

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Jim earns commission selling musical instruments and equipment. He is paid a retainer of $100 per week as well as 5% commission on sales up to $10 000 and 7% commission on additional sales over $10 000. What does he earn in a week where he sells $12 500 worth of goods?

1 point

$675

$775

$875

$975

Clear selection

A nanny charges $15 per hour, or part thereof, for looking after a child. What does the nanny charge for looking after a child from 8 am until 3.20 pm on a particular day?

1 point

$105

$108

$110

$120

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

The hours worked by a cleaner last week are shown. On which day did the cleaner earn the most?

1 point

Wednesday

Thursday

Friday

Saturday

Clear selection

Betty deposits $2000 into an account which earns simple interest of 3% per annum for 2 years. How much interest is earned in the 2 years?

1 point

$30

$60

$90

$120

Clear selection

A student works from 10 am to 1 pm each Sunday and the normal rate of pay is $30 per hour.The student is paid at the normal rate for morning work and double time for afternoon work.How much does the student earn each Sunday?

1 point

$180

$150

$90

$120

Clear selection

This table is used to calculate income tax for individuals. Based on the table, what is the tax payable on a taxable income of $86 725?

1 point

$19 219.88

$19 732.63

$19 822.00

$19 924.12

Clear selection

Julia earns $28 per hour. Her hourly pay rate increases by 2%. How much will she earn for a 4-hour shift with this increase?

1 point

$2.24

$28.56

$112

$114.24

Clear selection

Jim is a paid a normal wage of $24.50 per hour for a 36-hour week. He is paid time-and-a-half for the first eight hours of overtime and double time thereafter. What is his gross pay in a week where he worked for 48 hours?

1 point

$1 176.00

$1 372.00

$1 470.00

$1 813.00

Clear selection

Alex is a real-estate agent who earns a commission of 1.5% on the first $200 000 of a sale,1.25% on the next $300 000 and 1.0% thereafter. Calculate Alex’s commission on a sale of $650 000.

1 point

$6500

$8125

$8250

$9750

Clear selection

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