Math-EXE S3 chapter 3

Percentages EX1
(All answer correct to 3 significant figures, if necessary)

1. The selling price of a car increases by 5% every year. It was $400 000 in 2022.

a) Find the selling price of a car in 2030.

b) Find the percentage change in the selling price of a car from 2022 to 2030.

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2. The shop sold 800 toys. 120 of them were sold at a profit of 35%, 90 of them were
sold at a profit of 25%, 80 of them were sold at the cost price and the rest were

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sold at a loss of 80%. Given the cost price of each toy is $𝐶.

a) Find, in terms of 𝐶, the total amount of money that the shop received from
selling the toys.
e.
b) Find the overall percentage gain/loss.
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3. At 18:00, the pool is filled with 1 500 𝑐𝑚 of water. The volume of water in the
pool increases at a constant rate of 1% per minute.
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a) Find the percentage change in the volume of the water in the pool at 19:15.
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b) Will the water in the pool exceed 4 000 𝑐𝑚 at 19:30? Explain your answer.
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4. A man has $ 𝑦 worth of investments, consisting of 20% stock shares, 10% foreign
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currencies and 70% property. After 1 year, the value of his shares and the amount
of foreign currencies decreased by 15% and 4% respectively, while the value of his
property increased by 15%.

a) Find the new total value of his investments in terms of 𝑦.

b) Find the percentage change in the value of his total investments.

5. The marked price of a phone is $6 000. The shop sold at 10% discount with 30%
gain, find the cost of the phone.

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Math-EXE S3 chapter 3

6. The oxygen in the tube leaks 0.03 kg every hour. After 4 hours, the oxygen leaked
0.2% of its original weight of the oxygen.

a) Find the original weight of the oxygen.

b) After how many hours will all the original oxygen be leaked?

7. A watch is sold at the beginning of the year. The price of the watch increased by
10% in the first month and then increased by 25% in the second month.

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a) Find the overall percentage increase in these two months.
b) The increase in price in these two months is $6 000. Find the original price

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he of the watch.

8. The price of a display card was $11 560 a half year ago. Now the price of a display
e.
the card is $ 16 280.

a) Find the percentage increase in the past 6 months.

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b) The price of it will keep increasing 55% every year, find the price of next
year.
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9. You bought a headphone 5 years ago. Its value is now $477. If the value has
depreciated by 7% for each of the first and second year, and 18% every year from
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𝑟𝑑
the 3 years onwards, find the depreciation.
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10. You deposit $100 000 in a bank at a simple interest rate of 6.5% for 6 years. Find
the precentage change in the amount.

11. You deposit $150 000 in a bank at an interest rate of 2% p.a. compounded yearly.
Find the amount you will get after 3 years.

12. You deposit $30 000 in a bank at an interest rate of 3.5% p.a. compounded
monthly. Find the amount you will get after 5 years.

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Math-EXE S3 chapter 3

13. You want to borrow $ 20 000 from a bank for 5 years. Bank A charges simple
interest at 14% p.a., and bank B charges interest at 5% p.a. compounded quarterly.
Which bank should you choose to get a higher return?

14. You borrowed $30 000 from a bank at an interest rate of 𝑟% p.a. compounded
half-yearly. If the compound interest after 3 years is $2 321, find the value of 𝑟.

15. The monthly rent of a shop is $20 000. If the property tax rate is 17%, how much

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property tax should the owner pay for a year?

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16. Mr. Lee pays $1 500 per quarter for the rates of his flat. If the rates are charged at
8% p.a., what is the rateable value of his flat?
e.
17. Mr. and Mrs. Chan have two children under the age of 18. Mr. Chan earned $40 000
a month in the year 2022-2023 while Mrs. Chan was a housewife. Mr. Chan also
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lived with his retired mother who was 61 years old. Based on the table below, find

Allowances:
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($)
Basic allowance 100 000
Married person's allowances 200 000
𝑠𝑡
Child allowances: for each of the 1 to 9 child
𝑡ℎ 30 000
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Dependent parent allowance 30 000

Additional dependent parent allowance 30 000
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Tax on chargeable:
Net chargeable income ($) Rate Tax($)
On the first 35 000 2% 700
On the next 35 000 7% 2 450
On the next 35 000 12% 4 200
Remainder income 17%

Standard tax rate: 16%

a) their net chargeable income,

b) their salaries tax payable.

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Math-EXE S3 chapter 3

Answers:

1. a) $591 000 b) increase 47.7%

2. a) $467𝐶 b) loss 42.9%

3. a) 110% b) no, 3670<4000

4. a) 1. 07𝑦 b) increase 7.1%

5. $4150

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6. a) 60 kg b) 2000

7. a) 37.5% b) 16000

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8. a) 40.8% b) $25200

9. $523
e.
10. increase 39%
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11. $159000

12. $35700
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13. bank A, 34000>25667

14. 2.5
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15. $32600

16. $75000
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17. a) $190000 b) $33700, salaries tax: $33700 < standard

tax: $76800

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