Interest and taxes: true or false?

Exercise and reference answers

Questions

1. Statement is true

   Yes

   Statement

   Compound interest builds on the previous year's amount

2. Statement is true

   Yes

   Statement

   Heena's compound deal cost her 128 more than simple

3. Statement is true

   No

   Statement

   Discount percent is figured on the sale price

4. Statement is true

   No

   Statement

   VAT is charged separately on top of the printed price

5. Statement is true

   Yes

   Statement

   GST arrived on July 1, 2017

Instructions

Tap True or False for each statement.

Explanation