Solved Questions on Money
1. A bakery produces several bread items and biscuits. In a packet, there are 8 buns of hot dogs. Some packets of hot dog buns cost $77700 which are produced in 5 days. How many packets of hot dog buns will it produce in a week if the cost of each packet of hot dog buns is $37?
a) 2100 packets
b) 2310 packets
c) 2720 packets
d) 2940 packets
Answer: d) 2940 packets
Explanation: Total cost of hot dog buns = $4088.50
Cost of each packet of hot dog buns = $37
Number of packets of hot dog buns produced in 5 days = 77700 ÷ 37
= 2100
Number of packets of hot dog buns produced in 1 day = 2100 ÷ 5
= 420
Number of packets of hot dog buns produced in 7 days (1 week) = 420 × 7
= 2940
2. Naora deposits £10432.72 on Monday. If she withdraws £10743.20 on Thursday and then deposits £32456.94 on Saturday, then find the total amount in her account now.
a) £31246.46
b) £32146.46
c) £32416.46
d) £32164.46
Answer: b) £32146.46
Explanation: Total amount in Naora’s account = £[10432.72 – 10743.20 + 32456.94]
= £32146.46
3. The cost of an expensive purse is $17.3 and the cost of a prime wallet is $12.4. What is the total amount paid by him if Mark bought 5 purses and 4 wallets?
a) $116.10
b) $116.20
c) $136.10
d) $136.20
Answer: c) $136.10
Explanation: Cost of 1 purse = $17.3
Cost of 1 wallet = $12.4
Total cost of 5 purses and 4 wallets = $(5 × 17.3) +( 4 × 12.4)
= $(86.5 + 49.60)
= $136.10
4. Paul spent $350.23 on buying a second-hand car. He also spent $21.67 on repairs, changed one tire for $14.32 and filled the tank with $13.89 petrol. What is the total amount in cents spent by him?
a) 40.011 cents
b) 400.11 cents
c) 4001.1 cents
d) 40011 cents
Answer: d) 40011 cents
Explanation: Total amount spent by her = $(350.23 + 21.67 + 14.32+ $13.89) = $400.11
Total amount in cents spent by her = $400.11 × 100 = 40011 cents
5. Joseph's car was parked in the parking lot from 6:30 a.m. to 11.45 a.m. How much does he have to pay?
a) $25.25
b) $26.25
c) $26.50
d) $26.75
Answer: d) $26.75
Explanation: Duration from 6.30 a.m. to 11.45 a.m. is 5 hours 15 minutes.
The parking rate for the first hour (6.30 a.m. to 7.30 a.m.) = $6.50
Now, parking rate for the remaining 8 half hours [4 hours] (7.30 a.m. to 11.30 a.m.) = 8 × $2.25 = $18
Now, the parking rate for the remaining 15 minutes (11.30 a. to 11.45 a.m. = $2.25
So, total amount he had to pay = $(6.50 + 18 + 2.25) = $26.75
