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Business Maths

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Submitted By daawson
Words 964
Pages 4
GST
Including gst = 111x item costing. | Without GST= 111x item
Calculate the amount on which capital gains tax must be paid for a house that is sold for $345,000 after having been bought as an investment property 5 years ago for $298,000
345,000-298,000=47000 0.5=47000 equals $23500 tax to be paid

Simple Interest
Calculate the interest earned on $1500 invested at 9% p.a for 6 years.
PrT100 P=Principal r=Rate T=Time 1500x9x6100=$810
Find the total amount returned when $850 is invested for 30 months at 12.5% p.a
P=$850 r=12.5 T= 3012 =2.5 850x12.5x2.5100 =$1115.63
A loan of $5000 was taken out on 23 March and repaid on 17 September. Find the interest payable if the rate is 11.6% p.a
P=$5000 r=11.6 23 T=23 March to 17 September Days in March= (31-23(=8+1 for 23rd of March Month | March | April | May | June | July | August | September | Days | 9 | 30 | 31 | 30 | 31 | 31 | 17 |
179 days= 179365 years… 5000x11.6x179100x365=$284.438 P= 100xIrxT r= 100xIPxT T= 100xIPxr
The amount of $3500 was invested for 42 months, returning $4394.25. What was the rate of interest earned?
P=$3500 T=4212 I=$4394.25-$3500=$894.25 100xIPxT r= 100x894.253500x3.5 r= 7.3%

Balance Sheet Date | Transaction | Debit($)(Withdrawal) | Credit ($)(Deposit) | Balance ($) |
A $1300 freezer is purchased under a hire purchase agreement requiring a deposit of $450 and equal monthly instalments of $47.81 for two years. Find the flat rate of interest.
Price=$1300, deposit $350. Amount owed is 1300-350=$850
Amount repaid =47.81x24=$1147.44 Interest paid= 1147.44-850= $297.44
I=PrT100 297.44= 850xrx2100 now substitute the formula to make it 297.44x100850x2=r… Flat Rate interest is 17.5%
Hire purchase offered on a sound system priced $2750 with a $550 deposit. The flat rate of interest is 16.25% p.a. What will the monthly repayment be if done over 4 years?
Amount due

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