Finding the final amount given the original amount and a percentage increase or decrease Online Quiz

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Q 1 - A library collected $48.00 in fees every month. But in April they increased the fees by 20%. What is the fees the library collects in May?

Answer : A

Explanation

Step 1:

Present library fees = $48

Percent increase = 20%;

Step 2:

Increase in fees = 0.2 × 48 = $9.60

So, Fees collected in May = $48 + $9.60 = $57.60

Q 2 - Normally a game costs $40.00. A new special edition version is going to cost 18% more. What is the cost of the new special edition version?

Answer : C

Explanation

Step 1:

Cost of present edition of game = $40

Increase in cost = 18% of $40 = 0.18 × 40 = $7.20

Step 2:

So, cost of new special edition of game = $40 + $7.20 = $47.20

Q 3 - Vincent has $1680 in the bank. If the bank pays a 15% rate of interest per annum, what is the amount in his bank after one year?

Answer : D

Explanation

Step 1:

Money in bank account = $1680

Rate of interest = 15% per annum

Step 2:

Interest = 15% of $1680 = 0.15 × 1680 = $252

Amount in the bank after one year = $1680 + $252 = $1932

Q 4 - The price for internet on a cell phone was $16 a month, but starting in January the price will be increased by 20%. What will be the new price?

Answer : B

Explanation

Step 1:

Price of internet on phone = $16

Percent increase in price = 20% of $16

Step 2:

Increase = 0.2 × 16 = $3.20

New price of internet = $16 + $3.20 = $19.20

Q 5 - Bernie's family were paying $96.00 for the TV, internet and phone, but a new connection was offered for a discount of 22% on earlier price. How much are they paying for the new connection?

Answer : A

Explanation

Step 1:

Present price of TV, internet, phone = $96

Increase = 22% of $96 = 0.22 × 96 = $21.12

Step 2:

New price = 96 – 21.12 = $74.88

Q 6 - A bank charged 36% p.a. interest on loans given. If a person borrowed $1600 dollars, how much would he end up paying in total?

Answer : D

Explanation

Step 1:

Principal = $1600; Rate of interest p.a. = 36%

Interest = 36% of $1600 = $576

Step 2:

Amount at the end of year = $1600 + $576 = $2176

Q 7 - A store was selling lawn chairs for $42. The store further offered a 12% markdown on the price of the chair. How much would a chair now cost?

Answer : B

Explanation

Step 1:

Price of lawn chair = $42

Markdown = 12% of $42 = 0.12 × 42 = $5.04

Step 2:

Price after discount = $42 – $5.04 = $36.96

Q 8 - Last year a trade license cost $56.00. There is a decrease of 30% in license fee. How much the license will cost this year?

Answer : C

Explanation

Step 1:

Cost of trade license last year = $56

Decrease in price = 30% of $56 = 0.3 × 56 = $16.80

Step 2:

Price of license this year = 56 – 16.80 = $39.20

Q 9 - Silvia ordered a dress online that cost her 60. The package arrived little damaged so the seller took 18% off the price. How much did she end up paying?