Section 3.1  Buying and Paying 
Question 1
The monthly water bill for domestic users is calculated as shown in the table below.
Fixed charge  J$400 
Cost per gallon  25 cents 
Calculate the total amount of the bill for a month when the consumer used 2060 gallons.

(A)  J$400 

 
(B)  J$475 
(C)  J$515 
(D)  J$915 

Question 2
A computer is advertised for sale at $840. A discount of 10% is given if bought for cash.
What is the cash price? 
(A)  $756 

 
(B)  $798 
(C)  $880 
(D)  None of these 
 
Question 3
A computer costing $840 can be bought on hire purchase with a deposit of $168 and
12 monthly payments of $70 each. Calculate the total price when buying the computer on hire purchase. 
(A)  $840 


(B)  $1008 
(C)  $1680 
(D)  None of these 

Question 4
A shopkeeper made a profit of 25% on his cost price of $8800. What was the selling price? 
(A)  $12200 


(B)  $9900 
(C)  $11000 
(D)  None of these 
 
Section 3.2  Earning 
The table shows how a company pays its workers. Overtime is paid at the basic hourly rate plus 40%.
BASIC WEEK 
Time  Wages 
40 hours  J$36000 
Questions 5 to 7 all refer to the information above 
Question 5
What is the basic hourly rate? 
(A)  J$800 


(B)  J$900 
(C)  J$9000 
(D)  None of these 

Question 6
What is the hourly rate for overtime pay? 
(A)  J$1120 


(B)  J$1260 
(C)  J$12600 
(D)  None of these 

Question 7
What will be the total amount paid to a worker who works 12 hours overtime in a week? 
(A)  J$15120 


(B)  J$36000 
(C)  J$51120 
(D)  None of these 

Question 8
The table below shows the taxes that are due to be paid annually.
Taxable Income  Taxes Due 
First $25000  $1500 
Remainder  20% of the remainder 
What taxes are due if taxable income is $40000?

(A)  $1500 


(B)  $8000 
(C)  $9500 
(D)  None of these 

Section 3.3  Exchanging 
Currency  Exchange Rate 
Pound Sterling (£)
US$ 
J$180
J$100 
Questions 9 to 12 all refer to the information above 
Question 9
What is £25 converted to Jamaican dollars? 
(A)  J$450 


(B)  J$4500 
(C)  J$45000 
(D)  None of these 

Question 10
Giving your answer to 2 decimal places, what is J$5000 converted to pounds sterling (£)? 
(A)  £27.77 


(B)  £27.78 
(C)  £28 
(D)  None of these 

Question 11
Convert US$200 into Jamaican dollars. 
(A)  J$2000 


(B)  J$10000 
(C)  J$20000 
(D)  None of these 

Question 12
Convert US$20 into pounds sterling (£), giving your answer to 2 decimal places. 
(A)  £11.00 


(B)  £11.11 
(C)  £12.00 
(D)  None of these 

Section 3.4  Saving 
J$1000 is invested in an account paying 10% interest per annum.
Questions 13 to 16 all refer to the information above 
Question 13
What is the interest paid at the end of the first year? 
(A)  J$10 


(B)  J$100 
(C)  J$1000 
(D)  None of these 

Question 14
If the interest is not reinvested, how much interest would be paid after 3 years? 
(A)  J$30 


(B)  J$300 
(C)  J$3000 
(D)  None of these 

Question 15
If the interest is reinvested, what is the balance of the account at the end of the second year? 
(A)  J$1200 


(B)  J$1210 
(C)  J$12100 
(D)  None of these 

Question 16
If the interest continues to be reinvested, what is the balance of the account at the end of the third year? 
(A)  J$1300 


(B)  J$1320 
(C)  J$1331 
(D)  None of these 
