Wednesday, 15 September 2021 07:02

# Money - Class 8 Mathematics Revision Notes

### Money

Worked Exercise

1. Mutiso paid sh.330 for an item after the shopkeeper gave him a 12% discount. What was the marked price of the radio?
1. sh300
2. sh369.60
3. sh375
4. sh350
Working
Marked price = 100%
Discount = 12%
S.P = 100% - 12%
= 88%
If 88 % = 330
100% = ?
100 x 300/88 = Sh375
The correct answer is C (375)
2. Olang’ borrowed sh.54000 from a bank which charged interest at the rate of 18% p.a. He repaid the whole loan after 8 months .How much did he pay back?
1. sh6480
2. sh60, 480
3. sh14580
4. sh77760
Working
I = PRT/100
= 54000 x 18 x 8/100 x 12
= sh6480
Amount = P + I
= (54,000 + 6,480) shillings
= Ksh 60, 480
3. The cash price of a microwave is sh. 18000. The hire purchase price of the microwave is 20% more than the cash price. Bernice bought it on hire purchase terms by paying 40% of the hire purchase price as the deposit and the balance equal monthly installments of sh1620. How many installments did she pay?
1. 12
2. 10
3. 9
4. 8
Working
Let the cash price be 100%
Hire purchase = 100% + 20%
= 120% of the cash price
= 120/100 x 1800
= sh.21, 600
Deposit = 40% of HPP
= 40/100 x 21,600
= sh.8, 640
HPP = D + MI
I = HPP - D/MI
= 21600 – 8640/1620
5. = 8 Months
The correct answer is D (8)
4. Salim deposited sh25000 in a bank which paid compound interest at the rate of 10% per annum. If he withdraws all his money after years, how much interest did his money gain?
1. sh5250
2. sh2500
3. sh1375
4. sh387
Working
Interest for year 1
I = PRT/100
= 25000 x 10 x 1/100
= Sh2500
Amount = 25000 + 2500
= 27,500
Interest for 2nd year
I = PRT/100
= 27,500 x 10 x ½/100
= Sh13775
Total interest (2,500 + 1,375)
= Sh3875
The correct answer is D (Sh 3875)
5. Kamaru bought bananas in groups of 20 at sh20 per group. He grouped them into smaller groups of 5 bananas each and sold them at sh10 per group. What percentage profit did he make?
1. 40%
2. 50%
3. 60 %
4. 70%
Working
For every 20 bananas = sh 25
One group produces 4 smaller groups of 5 bananas each
S. P = 4x 10
= sh40
B.P price = sh25
Profit = 40 – 25
= sh15
% profit = P/BP x 100
= 60%
The correct answer is C (60).
6. A shopkeeper bought 3 trays of eggs at sh 150 per tray. On the way to the shop, he realized 20% of the eggs were broken. He sold the rest at sh 72 per dozen. How much loss did he make?
1. sh450
2. sh432
3. sh18
4. sh28
Working
B.P for 3 trays = 3 x 150
= sh450
Number of eggs = 3 x 30
= 90 eggs
20% eggs broke = 20/100 x 90
= 18 eggs broken
Therefore remained = (90 - 18) eggs
= 72 eggs
1 dozen = 12 eggs
? = 72 eggs
= 6 dozens
1 dozen = sh.72
6 dozens = ?
Loss = B.P – S.P
= 450 - 432
sh18
The correct answer is C (sh18)
7. A Salesperson earns a basic salary of sh7500 per month. He is also paid a 5% commission on all sales above sh30, 000. In a certain month his total earnings were sh.14250. What was his total sales for that month?
1. sh135000
2. sh285000
3. sh165000
4. sh315000
Working
Commission = sh14250 – sh7500
= sh6750
5% = sh6750
100% = ?
= 100/5 x 6750
= Sh. 135,000
Total sales = (135,000 + 30,000)
= sh165000
The correct answer is C (sh 165,000)
8. Shiku bought the following items from a shop
6kg of sugar @ sh45
½ of tea for sh90
3 kg of rice @ sh30
2kg of fat @ sh70
If she used one thousand shillings to pay for the items, what balance did she receive
1. sh410
2. sh455
3. sh590
4. sh765
Working
Shiku’s Bill
 Item Sh ct 6kg sugar @ sh45 270 00 ½ kg tea for sh90 90 00 3kg rice @ sh30 90 00 2kg fat @ sh70 140 00 Total 590 00
Total expenditure = sh590
Balance = sh1000 – sh590
The correct answer is = sh410 (A)
9. Maranga paid sh4, 400 for a bicycle after he was given a 12% discount. James bought the same item from a different shop and was given a 15%. How much more than James did Maranga pay for the bicycle?
1. sh250
2. sh300
3. sh750
4. sh150
Working
Maranga B.P = 100% - 12%
= 88%
4400/88 x 100 = sh5000
James B.P = 100% - 15%
= 85%
85 x 100/4400 = sh4,250
How much more? = (5000-4250) shillings
= sh750
The correct answer is C (750)
10. The table below shows postal charges for sending letters;
 Mass of letter Sh ct Up to 20g 25 00 Over 20g up to 50g 30 00 Over 50g up to 100g 35 00 Over 100g up to 250g 50 00 Over 250g up to 500g 85 00 Over 500g up to 1kg 135 00 Over 1kg up to 2kg 190 00

Namu posted two letters each weighing 95g and another one weighing 450g. How much did he pay at the post office?
1. sh120
2. sh135
3. sh155
4. sh240
Working
Two letters
95g → Sh35.00
95g → Sh35 .00
Another 450g → Sh85.00
The correct answer is C (sh155)