True/False
Indicate whether the
statement is true or false.
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1.
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Last year a chocolate bar cost 56p. This year it costs 60p. The percentage
increase in price is 4%.
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2.
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Last year a chocolate bar cost 56p and a banana cost 23p. This year the
chocolate bar costs 60p and the banana costs 25p. As a proportion, the banana has risen in price more
than the chocolate bar.
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3.
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A mail-order book company charges a 2% fee for postage. If I buy a book costing
£15 then my total bill is £15.02.
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4.
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24:12::6:3.
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5.
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If a school has 8 teachers and 200 pupils then the pupil:teacher ratio is about
25:1.
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6.
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The letter p represents the ratio of a circle’s
circumference to its radius.
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7.
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Pippa borrows £50 from Chan for two years, and they agree a simple interest
rate of 8%. The total interest that Pippa pays is £8.
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8.
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Pippa borrows £50 from Chan for three years, and they agree a compound
interest rate of 8%. The total interest that Pippa pays is £8.32.
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9.
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A credit card offers a nominal annual rate of 10% compounded monthly. The APR is
about 10.47%.
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10.
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Two credit cards A and B each offer a nominal annual rate of 12%, but for credit
card A this is compounded monthly whereas for credit card B it’s compounded quarterly. Credit
card A has the lower APR.
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