TB(3A) Ch.

3 Percentages (II)
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TB(3A) Ch.3 Percentages (II)

Conventional Questions

1.[16-17 S.3 Mid-year Exam #10]

Amy owns a flat and she needs to pay a property tax of $25 200 for a year. If the property tax
rate is 15%, find the monthly rental income of her flat. (2 marks)

2. [16-17 S.3 Mid-year Exam #12]

Rebecca wants to save her $2500 red packet money in a bank for 5 years. She can choose one
of the following two saving plans.
Plan A: Simple interest rate 4.5% p.a.
Plan B: Compound interest rate 4% p.a. compounded quarterly.
(a) Which plan should she choose to get more interest? Explain your answer. (3 marks)
(b) After saving in the plan she chose in (a) for the first year, the bank introduces a new
promotional saving plan C: compound interest rate 4.2% p.a. compounded half-yearly. The
promoter claims that Rebecca will receive 5% more of interest for the whole 5-year period if she
changes to Plan C for the remaining period of time. Do you agree? Explain your answer.
(3 marks)

3. [16-17 S.4 Mid-year Exam #3]

Ady deposited $10 000 each into bank A and bank B separately for 4 years. Bank A offers an
interest rate at 5% p.a. compounded half-yearly. Bank B offers a simple interest rate at 6% p.a.
Find the total interest obtained after 4 years correct to the nearest dollar. (3 marks)

4. [16-17 S.3 Final Exam #1]

The value of a computer is $4096 now and its value depreciates 16% every year.
(a) Find the value of the computer two years later. (2 marks)
(b) Find the value of the computer two years ago. (2 marks)

5. [16-17 S.3 Final Exam #12]

Jane plans to invest a total of $120000 in both Bank A and Bank B. Bank A offers 4% p.a.
simple interest rate and Bank B offers 6% p.a. simple interest rate. Let $x be the amount of
money invested in Bank A. By setting up an inequality, what is the range of x that her total
investment could still be guaranteed more than $6500 interest per year? (3 marks)

6. [17-18 S.3 Mid-year Exam #10]

Sherry has borrowed $50000 from a bank at the beginning of January in 2017. The interest is 12%
p.a. compounded monthly. She repays $10000 at the beginning of each month starting from
February until she has fully repaid the whole sum of money.
(a) Find the amount Sherry owes the bank at the end of January in 2017. (2 marks)
(b) Find the amount Sherry owes the bank at the end of February in 2017. (2 marks)
(c) Sherry thinks that she can fully repay the whole sum of money at the beginning of June in 2017.
Do you agree with her? Explain your answer. (2 marks)
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7. [17-18 S.4 Mid-year Exam #3]

Mrs Chan wants to invest $50 000 for 3 years. She has the following choices:
Plan A: compounded quarterly at 2% p.a.
Plan B: simple interest of 2.05% p.a.
Suggest the plan she should choose by finding the interest. (4 marks)

8. [17-18 S.4 Final Exam #4]

The salary of Victoria is 10% higher than that of Joey while the salary of Joey is 20% lower
than Pauline. It is given that the salary of Joey is $15 000. Find the mean salary for these 3
people. (3 marks)
9. [18-19 S.3 S Test 1, #3]
Katy deposits $6 900 in a bank at a simple interest rate of 5% p.a. Find the amount she will
receive after 6 years. (2 marks)

10. [18-19 S.3 S Test 1, #5]

The value of a TV was $50 000 in 2015.
(a) It is known that the value of the TV was decreased by 5% per year from 2014 to 2017. Find
the values of the TV in 2014 and 2017, correct to the nearest integers. (3 marks)
(b) If the value of the TV is decreased by a% per year from 2017 to 2019, causing its value
dropped by 30% from 2017 to 2019, find the value of a. (2 marks)

11. [18-19 S.3 S Test 1, #6]

Lily earned $20 000 in May and she spent 30% of her income on transportation, 50% on food
and saved the rest. If her income is increased by 6% and all her expenditure is increased by 4%
in June, find the percentage change of her saving from May to June. (3 marks)

12. [18-19 S.3 S Test 1, #7]

The ratable value of a property is $1 120 000 and the rates are charged at 5% p.a.
(a) Find the rates the property owner should pay for a quarter. (2 marks)
(b) The owner of the property deposits $850 000 in a bank at the beginning of the year and the
bank offers an interest rate of 6% p.a. compounded quarterly. He pays for the rates found in
(a) from the deposit after each time he receives the interest. He claims that he will still have
$847 000 in the deposit after he finishes the payments half year later. Do you agree?
Explain your answer. (2 marks)

13. [18-19 S.3 Mid-year Exam #3]

The length of a square metal cube is 10 cm. Upon heating, each side of the cube is expanded by
5%. Find the percentage change of its volume. (3 marks)

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TB(3A) Ch.3 Percentages (II)
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14. [18-19 S.3 Mid-year Exam #8]

Joe deposits $10 000 in Bank A and $20 000 in Bank B respectively. Bank A offers a simple
interest rate of 5% p.a.. Bank B offers an interest rate of 4% p.a. compounded quarterly.
(a) Find the simple interest earned from Bank A in the first year. (2 marks)
(b)(i) Find the compound interest earned from Bank B in ten years.
(ii) Write down the compound interest earned from Bank B in the 10th year.
(Give your answers correct to the nearest dollar.) (3 marks)

15. [18-19 S.3 Mid-year Exam #10]

Table (a) and (b) show the salaries tax rates of each portion of the net chargeable income for
year 2016 and 2018 respectively. Miffy paid a salaries tax of $2 900 in year 2016. If her income
and her salaries tax allowance remain the same in year 2018, find her salaries tax payable in
year 2018. (3 marks)

Net chargeable income Tax rate Net chargeable income Tax rate
On the first $40 000 2% On the first $ 50 000 2%
On the next $40 000 7% On the next $ 50 000 6%
On the next $40 000 12% On the next $ 50 000 10%
Remainder 17% On the next $ 50 000 14%
Remainder 17%
Table (a): Salaries Tax Rates in 2016
Table (b): Salaries Tax Rates in 2018

16. [18-19 S3 Final Exam #6]

(a) Albert deposits $20 000 in bank A at a simple interest rate of 4.5% p.a. Find the total
amount received after 2 years. (2 marks)
(b) Amy deposits $P in bank B at an interest rate of 24% p.a. compounded quarterly. If the
interest received in the first year is $17 061, find the value of P. (Give the answer
correct to the nearest integer.) (2 marks)

17. [19-20 Standardized test 1, #3]

In July, the value of a flat was $8 000 000. The value increased by 2% from July to August and then
decreased by 1% from August to September. Find the value of the flat in September. (2 marks)

18. [19-20 Standardized test 1, #4]

Kitty deposited $x in a bank at a simple interest rate of 2% p.a. She received interest of $465 after
18 months. Find the value of x. (2 marks)

19. [19-20 Standardized test 1, #5]

If $80 000 is invested at 5% p.a. compounded yearly, find the amount after 2 years. (2 marks)

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20. [19-20 Standardized test 1, #7]

Winnie deposits $110 000 in a bank at an interest rate r% p.a. The interest is compounded
half-yearly. After 1 year, she will earn interest of $3324.75. Find the value of r. (3 marks)

21. [19-20 Standardized test 1, #8]

The number of bacteria X is now 1 000 000. If the bacteria grow at a constant rate of 20% every
day.
(a) Find the number of bacteria X after 3 days. (2 marks)
(b) The number of bacteria Y is now 1 000 000 and grow at a constant rate of 10% every 12
hours. After 3 days, by how many bacteria Y exceed bacteria X? (2 marks)

22. [19-20 Mid-year, #5]

The population of a city increases by 10% each year from 2000 to 2010. Starting from 2010, the
population decreases by 5% each year. It is given that the population in 2012 is 100 000. Find
the population in 2009, correct to the nearest integer. (3 marks)

23. [19-20 Mid-year, #6]

For the financial year 2018/19, the progressive tax rates are as follows:
Net chargeable income Tax Rate
On the first $50 000 2%
On the next $50 000 6%
On the next $50 000 10%
On the next $50 000 14%
Remainder 17%

Johnson’s monthly income is $20 000 in the financial year 2018/19 and the allowance i s
$132 000. Find the salaries tax payable of Johnson. (3 marks)

24. [19-20 Mid-year, #7]

Tom deposits $9000 in a bank at an interest rate of 2% p.a. compounded monthly for 2 years.
(a) Find the amount Tom will receive. (2 marks)
(b) Peter deposits $10 000 in another bank at a simple interest rate of 2% p.a. for 2 years. He
claims that he will receive more interest than Tom. Do you agree? Explain your answer.
(2 marks)

25. [19-20 Mid-year, #12]

The rateable value of Amy’s apartment is $1 000 000 and the rates are charged at 5% per annum.
(a) Find the rates Amy should pay for a quarter. (1 mark)
(b)
Amy deposits $4 000 each month in a bank at an interest rate of 8% p.a. and the interest i s
compounded monthly. Amy claims that the total amount after 3 months is enough for her to
pay the rates for a quarter. Do you agree? Explain your answer. (3 marks)

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26. [20-21 Mid-year, #4]

There were 240 students in a kindergarten last year, of which 80 were girls. If the number of girls
increases by 20 % and the number of boys decreases by 60% this year. Find the percentage change
of number of students. (3 marks)

27. [20-21 Mid-year, #5]

(a) A sum of $7000 is deposited at an interest rate of 5% p.a. compound quarterly. Find the
interest earned after 4 years, correct to the nearest dollar. (2 marks)
(b) If the simple interest earned on $7000 at 7% p.a. for t years is equal to the compound interest
earned in (a), find the value of t correct to 3 significant figures. (2 marks)

28. [20-21 Final Exam, #4]

Kenneth deposits a sum of money in Bank A at an interest rate of 9% p.a. compounded yearly.
He will receive an amount of $194 254.35 after 3 years.

(a) How much does Kenneth deposit? (2 marks)

(b) If he deposits the same amount of money in Bank B at an interest rate p.a.
compounded quarterly, he will receive an amount of $154153 after half a year. Find the
value of correct to 1 decimal place. (2 marks)

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