Financial Maths Test

1) Lucy works a 40 hour week and gets paid $13.50 an hour. What is her total earnings for the week?

(a)  

2) Julie works 28 hours as a beautician. She earns $365.50 a week. What is her hourly rate of pay? (Remember to round your answer to 2 decimal places for money)

(a)  

3) Chris earns $16.30 per hour for a 38 hour week. He receives overtime at time and a half for the first 4 hours and double time thereafter. Calculate Chris's earnings for the week if he works 45 hours.

(a)  

5) Andrew earns an annual gross salary of $47 560. His employer deducts $15 000 in tax and $550 in union fees per year. What is his annual net income?

(a)  

6) Find the simple interest earned on an investment of $6500 at 6% p.a. for 4 years.

(a)  

7) Rob borrowed $3540 for 3 years and was charged simple interest at 2.5% p.a. How much did he repay altogether? (Remember to use a dollar sign and round for money)

(a)  

8) Mary took out a student loan of $1500 for 7 months at 7.5% p.a. Calculate the simple interest on her loan.

(a)