Two are true, one is not

Exercise and reference answers

Questions

1. False statement

   Discount is taken off the cost price

   Statements

   1. Discount is taken off the marked price
   2. Sales tax is added to the selling price
   3. Discount is taken off the cost price

2. False statement

   Overheads are added to the selling price

   Statements

   1. Overheads are added to the selling price
   2. Overheads are added to the cost price
   3. Cost price is buying price plus overheads

3. False statement

   Simple interest grows year on year

   Statements

   1. Compound interest uses the previous year's amount
   2. Simple interest grows year on year
   3. Simple interest uses the original principal

Explanation