MATHEMATIC EXAM PAPER

MID TERM 2014

TIME: 2 HOURS
ANSWER ALL QUESTIONS IN PART A AND PART B
PART A
1.
Foreign Currencies
(100 units)

Singapore Dollars to 100 units of

foreign currencies
Buying

Selling

Malaysian Ringgit
(MYR)

42.10

42.90

Philippines (Peso)

2.820

3.020

Thai Baht (THB)

4.210

4.290

Japanese Yen (Y)

1.538

1.556

a) Based on the buying rates quoted above, find the amount, in Singapore dollars the bank will
exchange for each of the followings:-

i. MYR300
ii. Y200
b) Based on the selling rates quoted in the table above, find for each of the following currencies, the
amount the bank will exchange for S$350.
i. Philippines Pesos (correct to 3 d.p. the nearest peso)
ii. Thai Baht (correct to 3 d.p. the nearest THB)

2.
Foreign Currency

Selling S$100 for

Buying S$100 for

Sterling Pound ()

32.20

31.90

Malaysian Ringgit (MYR)

237.50

233.20

Philippines pesos

3.550

3.310

Thai Baht (THB)

2.375

2.330

a) Based on the selling rates quoted above, find the amount, in Singapore dollars the money
changer will exchange for each of the followings:-

i. MYR100
ii. THB1000
b) Based on the buying rates quoted in the table above, find for each of the foreign currencies, the
amount the money changer will exchange for S$700.
i. Philippines Pesos
ii. Sterling Pounds

3. Mr Eng travelled to Japan on a business trip.

a) He changed S$2000 into Japanese Yen when the exchange rate was S$1 to 75 yen.
Calculate the amount he received.
b) On his return, he had 16 000 yen which he changed into Singapore Dollars. The exchange
rate then was S$1 to 80 yen. How many Singapore Dollars he received?

4. For each of the following, express the first quantity as a percentage of the second:
a) 5kg, 600g
b) 8cm, 1m 60cm
c) 1h 10min, 350min

5. For each of the following, find the value of n.

a) 33 % of n is 5
b) 150% of n is 24

6. A piano cost a musician $5000. After 2 years, he sold it at a loss of 12 %. How much did he sell
the piano for?

7. For parts (a) to (d), find

I.

The profit

II.

The profit as the percentage of the cost price (CP)

III.

The profit as the percentage of the selling price (SP)

a) CP=$32, SP=$40
b) CP=$8.40, SP=$12.60

8. At an end of the season sale, a boutique sold a dress for $40.

a) If the boutique owner had paid $45for the dress, what was his loss?

b) Express the loss as a percentage of the selling price of the dress.

9. A salesman sells a car for $150 000. If he is paid commission of 2%, how much does he received?

10. In a particular week, a car salesman sold three cars valued $37 000 each. If his basic salary is
$275 per week and
he receives a 2% commission on his sales, how much did he earn that week?

11. Find the simple interest and new total balance in each of the following cases:
a) Interest Rate: 7% each year, Starting Balance: $194, Time passed: 13 years
b) Interest Rate: 9% each year, Starting Balance: $150 , Time Passed: 14 years

12. An amount of $3000.00 is deposited in a bank paying an annual interest rate of 5 % compounded
daily.
a) Find the balance after 4 years.
b) Find the interest gained in 4 years.

13. The cash price of a computer package deal was $3200. Mary paid a 15% down payment and the
outstanding balance plus interest over 24 months. Interest on the balance was charged at 9.5 %.
a) Find the cost of the package deal if it is bought on hire purchase.
b) Find the difference between the hire purchase price and the cash price
c) Express the difference obtained in (b) as a percentage of the cash price

PART B
1) The principal is the money you ______
A. Borrow
B. Invest or borrow
C. Invest
D. get bonus

2) Invest $20000 with 3% interest for 5 year

A. 300

B. 200
C. 2000
D. 3000

3) Consider a $2000 loan with the compound interest of 10% per year. The duration of the loan is 2
years. Calculate the interest after the 2nd year.
A. $180
B. $200
C. $220
D. $240

4) Calculate the total amount of money accumulated of a $5000 investment with the compound
interest rate of 10%. The duration of the loan is 3 years.
A. $6655
B. $6650
C. $6500
D. $6300

5. A computer is on sale for $1600, which is a 20% discount off the regular price. What is the regular
price?
A. $1800
B. $1900
C. $2000
D. $2100
E. $2200