True or false: arithmetic

Exercise and reference answers

Questions

1. Statement is true

   Yes

   Statement

   Discount is always worked out on the marked price.

2. Statement is true

   Yes

   Statement

   Profit per cent is always worked out on the cost price.

3. Statement is true

   No

   Statement

   Marking up 25 per cent then giving 20 per cent off leaves a 5 per cent profit.

4. Statement is true

   Yes

   Statement

   Compound interest is charged on the amount of the previous year.

Instructions

Decide whether each statement is true or false.

Explanation