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Financial Mathematics (Interest (100 5= $2000 = $400 (Amount= P+I),…
Financial Mathematics
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Employees can be paid: wage: hourly rate with overtime at time and a half = 1.5 salary: annual amount commission: % of sales net income = gross income – tax 17.5% leave loading.
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Applications of percentages
Profit/loss Percentage profit/loss = cost price profit/loss × 100% Mark-up and discount Commission/tax
Percentages
× 100% = 75%= % = 25.5 ÷ 100% = 0.255 20% of 60 = 0.2 × 60 = 12 5% of amount = 32 ∴ amount = 32 ÷ 0.05
=640
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