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]