General Mathematics HSC Examinations by Topics compiled by projectmaths.com.

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Prel: FM1: Financial Mathematics – Earning and managing money

14 13 Jane sells jewellery. Her commission is based on a sliding scale of 6% on the first 1 Solution

$2000 of her sales, 3.5% on the next $1000, and 2% thereafter. What is Jane’s
commission when her total sales are $5670?
(A) $188.40 (B) $208.40 (C) $321.85 (D) $652.05

SP 19 Rick is using a spreadsheet to 1 Solution

calculate the average pay of his

four employees for the week. In
the diagram, some of the cells of
the spreadsheet have been
shaded. Into which of the
shaded cells must Rick yet enter
data in order to calculate the
average pay for the week?
(A) B4 (B) B7 (C) C5 (D) C7

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SP 22 Simon is a mechanic who receives a normal rate of pay of $22.35 per hour for a 1 Solution

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40-hour week. When he is needed for emergency call-outs he is paid a special

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allowance of $150 for that week. Additionally, each time he is called out to an
11 19 emergency he is paid for a minimum of 4 hours at double time.

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In the week beginning 2 February, 2011
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Simon worked 40 hours normal time and
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was needed for emergency call-outs. His
emergency call-out log book for the week
is shown. What was Simon’s total pay for
that week?
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(A) $1189.28 (B) $1296.30

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(C) $1334.55 (D) $1446.30

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SP 27 Anne has a new job as a salesperson. She is offered the choice of being paid a 2 Solution

d salary or a retainer plus commission. A retainer is a fixed amount paid regardless

of sales. How do these methods of payments differ?
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13 3 Luke’s normal rate of pay is $24.80 per hour. In one week he worked 14 hours at 1 Solution
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1
the normal rate, 4 hours at time-and-a-half, and 3 hours at double time. He was
2
also paid a wet weather allowance of $50 for the week.
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What was his pay for the week?

(A) $583.20 (B) $620.40 (C) $669.60 (D) $719.60
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13 11 1 Solution

An enterprise agreement has the following

annual salary arrangements:

George’s employer pays 6% more than the enterprise agreement. He is on Step 3

and receives an allowance for Leader 2. What is George’s gross monthly pay?
(A) $4375.00 (B) $4412.50 (C) $4600.00 (D) $4637.50

HSC exam papers © Board of Studies, Teaching and Educational Standards NSW for and on behalf of the Crown in right of State of NSW

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13 26 Solution

d A section of Jim’s
electricity bill is shown.

(i) What is the value of 1

A?

(ii) How much will Jim 2

save if he uses
154 kWh of energy at
the Off-peak rate
rather than at the
Peak rate?

12 18 Jo qualifies for both Rent Assistance and Youth Allowance and receives a 1 Solution

fortnightly payment from the government. Rent Assistance is $119.40 per

fortnight. The maximum Youth Allowance is $402.70 per fortnight. It is reduced by

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50 cents in the dollar for any income earned over $236 per fortnight. Jo earns
$300 per fortnight from a part-time job. What is the total payment Jo receives

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each fortnight from the government?

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(A) $370.70 (B) $372.10 (C) $458.60 (D) $490.10

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12 27
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Tai earns a gross weekly wage of $1024. Each week her deductions are:
 tax instalment of $296.40
3 Solution
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 health fund contribution of $24.50
 union fees of $15.80
She also pays $3640 over the year as her share of the household expenses. What
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percentage of her net wage does Tai pay for household expenses?
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10 2 A new phone was purchased for $725 which included 10% GST. 1 Solution

What was the price of the phone without GST, correct to the nearest cent?
(A) $65.91 (B) $72.50 (C) $652.50 (D) $659.09
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10 23 2 Solution

a This advertisement appeared in a

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newspaper. What is the maximum

possible salary per annum for this
civil engineer, correct to the
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nearest dollar?
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HSC exam papers © Board of Studies, Teaching and Educational Standards NSW for and on behalf of the Crown in right of State of NSW

https://www.coursehero.com/file/14582958/FM1-Earning-and-Managing-Money-Gen-Maths-HSCs-2014-to-2010/
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10 23 Warrick has a net income of $590 per Solution

d week. He has created a budget to

help manage his money.
(i) Find the value of X, the 1
amount that Warrick allocates
towards electricity each week.
(ii) Warrick has an unexpectedly 1
high telephone and internet
account. For the last three
weeks, he has put aside his
savings as well as his
telephone and internet
money to pay the bill. How
much money has he put
aside altogether to pay the
bills?

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(iii) The bill for the telephone and 3

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the internet is $620. It is due

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in two weeks time. Warrick

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realises he has not put aside
10 23 enough money to pay the bill. How could Warrick reallocate non-essential

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di funds in his budget so he has enough money to pay the bill? Justify your
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answer with suitable reasons and calculations.
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HSC exam papers © Board of Studies, Teaching and Educational Standards NSW for and on behalf of the Crown in right of State of NSW

https://www.coursehero.com/file/14582958/FM1-Earning-and-Managing-Money-Gen-Maths-HSCs-2014-to-2010/

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