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CORE*, FUR2 2011 VCAA 1

Tony plans to take his family on a holiday.

The total cost of $3630 includes a 10% Goods and Services Tax (GST).

  1. Determine the amount of GST that is included in the total cost.  (1 mark)

During the holiday, the family plans to visit some theme parks.

The prices of family tickets for three theme parks are shown in the table below.

BUSINESS, FUR2 2011 VCAA 1

  1. What is the total cost for the family if it visits all three theme parks?  (1 mark)

If Tony purchases the Movie Journey family ticket online, the cost is discounted to $202.40

  1. Determine the percentage discount.  (1 mark)
Show Answers Only
  1. `$330`
  2. `$462`
  3. `text(8%)`
Show Worked Solution

a.   `text(Let $)P\ text(be the cost ex-GST)`

`P + 10text(%)P` `= 3630`
`1.1P` `= 3630`
`P` `= 3630/1.1`
  `= $3300`
   
`:.\ text(GST)` `= 10text(%) xx $3300`
  `= $330`

 

b.   `text(C)text(ost to visit all 3 parks)`

`= 82 + 220 + 160`

`= $462`

 

c.    `text(Savings)` `= 220 – 202.40`
    `= 17.60`
`:.\ text(Discount)` `= (17.60)/220`
  `= 0.08`
  `= 8text(%)`

CORE*, FUR2 2015 VCAA 1

Jane and Michael have started a business that provides music at parties.

The business charges customers $88 per hour.

The $88 per hour includes a 10% goods and services tax (GST).

  1. Calculate the amount of GST included in the $88 hourly rate.  (1 mark)

Jane and Michael’s first booking was a party where they provided music for four hours.

  1. Calculate the total amount they were paid for this booking.  (1 mark)

After six months of regular work, Jane and Michael decided to increase the hourly rate they charge by 12.5%.

  1. Calculate the new hourly rate (including GST).  (1 mark)
Show Answers Only
  1. `$8`
  2. `$352`
  3. `$99`
Show Worked Solution

a.   `text(Let)\ \ x=\ text(hourly rate before GST)`

`x +\ text(GST)` `= 88`
 `x+0.1x` `= 88`
`x` `=88/1.1`
  `=80`

 

`:.\ text(GST)\ = 88-80 = $8`

 

b.    `text(Total amount)` `=88 xx 4`
    `=$352`

 

c.    `text(New hourly rate including GST)`
   `= 88 + 88 xx 12.5 text(%)`
  `= 88 xx 1.125`
  `=$99`

CORE*, FUR1 2009 VCAA 6 MC

In 2005, Peter’s annual salary was $35 000.

At the start of each subsequent year, his annual salary increases by 4.75%.

In 2010 his salary will be closest to

A.   $36 663

B.   $42 140

C.   $43 310

D.   $44 140

E.   $55 670

Show Answers Only

`D`

Show Worked Solution

`P = 35\ 000, \ R = 1.0475, \ n = 5`

`text(Using)\ \ \ A` `= PR^n`
  `= 35\ 000 xx 1.0475^5`
  `= $44\ 140.597…`

`=>  D`