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Financial Mathematics — Free MYP4 Mathematics (Extended) Practice Questions
1QuestionSimple and Compound InterestConcept Practice
2 marks~3 minCriterion A
A property developer is fencing a triangular plot of land. The plot is right-angled, and surveyors have confirmed that the two shorter boundary lengths satisfy and .
a
Calculate the area of the square on the longest boundary. [1]
b
The developer claims the longest boundary exceeds 65 m, so a more expensive fencing grade is required. Justify whether this claim is correct, using your result from part (a). [1]
Solutions
2QuestionProfit Loss and Discount CalculationsAssessment Practice
4 marks~6 minCriterion C
A trader sold an article for 374 USD, making a loss of 15% on the cost price.
a
State the multiplier that relates the selling price to the cost price when a 15% loss occurs. [1]
b
Calculate the cost price of the article. [2]
c
The trader claims that raising the selling price by 15% would have been enough to break even. Justify whether this claim is correct, referring to the actual percentage increase required. [1]
Solutions
3QuestionProfit Loss and Discount CalculationsConcept Practice
2 marks~3 minCriterion B
A retailer offers a bulk-purchase discount scheme:
| Number of items purchased | 1 | 2 | 3 |
|---|---|---|---|
| Discount applied |
a
Deduce the general rule for the discount percentage when items are purchased. [1]
b
A customer needs a discount of at least to stay within budget. Justify whether purchasing 4 items meets this requirement, using your rule from part (a). [1]
Solutions
4QuestionTaxation Budgeting and Loan PaymentsAssessment Practice
4 marks~6 minCriterion D
The graph below shows the total amount owed on a loan over a 5-year period. The loan begins at 5000 dollars and the total amount owed after 5 years is 6500 dollars.
a
Calculate the annual increase in the total amount owed. [1]
b
Explain how the shape of the graph indicates the type of interest applied to this loan. [2]
c
A second loan of 5000 dollars is offered at 5% annual compound interest over 5 years. Advise a borrower which loan to choose, justifying your recommendation with a calculation. [1]
Solutions
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