Mathematics Practice Test – Financial Arithmetic (Questions with Answers and Explanations)

A dealer sold a car to a man and made a profit of 15%. The man then sold it to a woman for N120,175.00 at a loss of 5%. How much did the dealer buy the cat? (WASSCE 2006 Theory 2a)

For a musical show, x children were present. There were 60 more adults than children. An adult paid D5 and a child D2. If a total of D1280 was collected, calculate the ratio of the number of children to the number of adults. (WASSCE 2009 Theory)

A car costs N3,000,000.00. It depreciates by 25% in the first year and 20% in the second year. Find its value after 2 years. (WASSCE 2008)