Scribd
Upload
133 views3 pages

CSEC Math Consumer Arithmetic Quick Review

The document provides a quick review of key concepts in consumer arithmetic and finance, including definitions and formulas for discount, sales tax, profit, loss, and various types of interest. It also covers terms related to purchasing, such as hire purchase and mortgage, as well as concepts like appreciation, depreciation, and currency conversion. Additionally, it touches on utilities, invoices, salaries, insurance, and investments.

Uploaded by

Sri Sudha Karanam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
133 views3 pages

CSEC Math Consumer Arithmetic Quick Review

The document provides a quick review of key concepts in consumer arithmetic and finance, including definitions and formulas for discount, sales tax, profit, loss, and various types of interest. It also covers terms related to purchasing, such as hire purchase and mortgage, as well as concepts like appreciation, depreciation, and currency conversion. Additionally, it touches on utilities, invoices, salaries, insurance, and investments.

Uploaded by

Sri Sudha Karanam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

CSEC Math Consumer Arithmetic & Finance - Quick Review

Discount
A reduction from the marked price.

Formula: Discount = Marked Price × (Discount Rate ÷ 100)

Sales Tax
An additional amount charged on goods/services, calculated as a percentage of the selling
price.

Formula: Sales Tax = Selling Price × (Tax Rate ÷ 100)

Profit
The amount gained when selling price is more than cost price.

Formula: Profit = Selling Price − Cost Price

Loss
The amount lost when selling price is less than cost price.

Formula: Loss = Cost Price − Selling Price

Percentage Profit
Profit expressed as a percentage of cost price.

Formula: Percentage Profit = (Profit ÷ Cost Price) × 100

Percentage Loss
Loss expressed as a percentage of cost price.

Formula: Percentage Loss = (Loss ÷ Cost Price) × 100

Markup
The amount added to the cost price to get the selling price.

Purchase Tax
Tax added to the purchase price, usually expressed as a percentage.

Marked Price
The original price set by the seller before any discount.

Selling Price
The actual price at which goods are sold after discount.
Cost Price
The price at which goods are bought.

Hire Purchase
Buying goods by paying a deposit followed by instalments.

Mortgage
A loan to buy property, paid back in instalments over time.

Simple Interest
Interest calculated only on the principal amount.

Formula: Simple Interest = (Principal × Rate × Time) ÷ 100

Compound Interest
Interest calculated on principal and accumulated interest.

Formula: Amount = Principal × (1 + Rate/100)^Time

Appreciation
An increase in the value of an asset over time.

Depreciation
A decrease in the value of an asset over time.

Currency Conversion
Changing money from one currency to another using exchange rates.

Formula: Converted Amount = Amount × Exchange Rate

Rates and Taxes


Payments made to government based on property or income.

Utilities
Services such as electricity and water charged based on usage.

Invoices and Shopping Bills


Documents showing amounts due for goods or services.

Salaries and Wages


Payments made to employees for work done.

Insurance
Payment to protect against financial loss.
Investments
Putting money into assets expecting future financial returns.

You might also like