True or false about money sums

Exercise and reference answers

Questions

1. Statement is true

   Yes

   Statement

   Discount percentage is worked out on the marked price.

2. Statement is true

   Yes

   Statement

   List price and marked price mean the same thing.

3. Statement is true

   No

   Statement

   Sales tax is subtracted from the bill.

4. Statement is true

   Yes

   Statement

   Simple interest keeps the same principal each year.

5. Statement is true

   No

   Statement

   Compound interest earns less than simple interest.

Instructions

Decide whether each statement is true or false.

Explanation