Test [money and finance] Name……………………………………………………… Grade 8 1. A boy buys a broom for N$30 and sells it to a friend for N$35. Calculate his percentage profit. Answer…………………………….[2] 2. A man bought a cellphone for N$2 400, he wants to make 30% profit. How much must he sell the cellphone Answer…………………………….[2] 3. A chair is sold at a discount of 20%. Find the selling price if its marked price is N$1 400. Answer…………………………….[2] 4. An item cost a store N$240. The item was marked up by 30%. What was the selling price of the item? Answer…………………………….[2] 5. Sigbert invested N$7 500 at a rate of 5% per year simple interest for 2 𝑦𝑒𝑎𝑟𝑠. a) Calculate the interest earned on the investment Answer…………………………….[1] b) Calculate the total amount he will earn after 2 years Answer…………………………….[1]