The Hong Kong Management Association K S Lo College

S.3 Mathematics 2020 - 2021

Chapter 7 More about Percentages
Uniform Chapter Quiz

Name︰___________________ Class︰________ ( ) Marks︰______/75

Section A: Multiple-Choice Questions (40 marks)
Answer ALL questions. Each question carries 5 marks.
1. Mr. Wong borrows $150 000 from a bank at an interest rate of 6% p.a. compounded half-yearly. How
much interest should he pay after 2 years? (Give the answer correct to the nearest dollar.)
A. $168 826
B. $168 540
C. $18 826
D. $18 540

2. John deposits $300 000 in a bank and receives a simple interest of $24 000 in 2 years. The amount
received is then deposited in another bank at the same interest rate, but interest is compounded quarterly.
What will be the total amount received 2 more years later? (Give the answer correct to the nearest
dollar.)
A. $350 846
B. $350 438
C. $337 090
D. $306 030

3. The population of a town increases steadily at a rate of 1.5% per year. If the population in 2004 was
508 000, find the population in 2001. (Give the answer correct to the nearest ten.)
A. 539 170
B. 531 200
C. 485 810
D. 478 630

4. In the past 4 years, the weight of Michael increased at a constant rate of 5% per year. If his weight is now
48 kg, find the increase in his weight over the past 4 years. (Give the answer correct to 3 significant
figures.)
A. 6.84 kg
B. 7.57 kg
C. 8.51 kg
D. 10.34 kg

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5. If a number is first decreased by 35% and then increased by 30%, the result is 5 070. Find the original
number.
A. 6 000
B. 5 365
C. 4 791
D. 4 284

6. If the length of a rectangle is increased by 20% while its width is decreased by 15%, find the percentage
change in its area.
A. 3%
B. 2%
C. –2%
D. –3%

7. Suppose the tax rate for rates is 5% each year. Dick paid $1 250 for the quarterly rates of his flat. Find
the rateable value of the flat.
A. $40 000
B. $50 000
C. $100 000
D. $160 000

8. Suppose the salaries tax rates are as follows.

Net chargeable income Rate

On the first $40 000 2%
On the next $40 000 8%
On the next $40 000 14%
On the remaining 20%

Edward has a net chargeable income of $150 000. Find his salaries tax payable.
A. $19 200
B. $17 200
C. $16 800
D. $15 600

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Section B: Structural questions (40 marks)
9. The marked price of a watch is 25% higher than its cost, and the watch is sold at a percentage discount of
30%. If the selling price of the watch is $3 024,
(a) find the cost of the watch. (3 marks)
(b) find the percentage loss. (3 marks)

10. Patrick wants to deposit $250 000 in a bank for 3 years. Bank A offers an interest rate of 5.5% p.a.
compounded half-yearly while Bank B offers an interest rate of 5.4% p.a. compounded monthly. If
Patrick wants to earn more interest, which bank should he deposit his money? (7 marks)

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11. The present value of a car is $123 000. Its value was $150 000 one year ago.
(a) Find the percentage decrease in its value. (3 marks)
(b) If the value of car decrease each year at the same percentage in (a), find the value of car in 4 years’ time
from the present value. (Give the answers correct to the nearest dollar.) (3 marks)

12. The cost of making a wooden bed is calculated as follows:

Wood ……………. $1 000
Paint ……………. $a
Labour ……………. $950
Now, the costs of wood and labour increase by 14% and 8% respectively, that of paint decreases by 5%.
(a) If the new cost of making a wooden bed is $2 394, find the value of a. (4 marks)
(b) What is the percentage increase in the cost of making a wooden bed?
(Give the answers correct to 3 significant figures.) (4 marks)

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13. The following table shows the progressive salaries tax rates for a fiscal year, and the standard rate is
15%.
Net chargeable income Tax rates
First $40 000 2%
Next $40 000 7%
Next $40 000 12%
Remainder 17%
The annual income of Wilson is $700 000. If he has an allowance of $120 000,
(a) find the net chargeable income of Wilson for that fiscal year. (2 marks)
(b) find the salaries tax payable by Wilson for that fiscal year. (6 marks)

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