Questions no# 9,10,11
9. Arjay was thinking of buying a car worth $23,000, but delayed purchasing the car for a year. During that year, the cost of the car increased by 3.2%
a) What was the price of the car when Arjay purchased it?
b) What was the total cost of the car including 5% GST and 5% PST???
Answer...
$23,736 x 1.10 = $26,109.60
10.What is the total cost for four tires that sell for $85 each, plus 5% GST
and 1.5 environment tax?
Answer...
$85 x 4 = $340
add 5% GST and a 1.5% environment tax
$340 x 1.05 = $357
Then...
$357 x 1.015 = $362.35
11.A student is awarded a $1,000 scholarship and place it in an account that
pays 3% simple interest per year.
a) What is the total value of the scholarship amount at the end of the second year?
b) What is the single percent increase in value of the scholarship after two years?
Answer...
6.09%
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