Discount and Salary Concepts
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Questions and Answers

What is the amount known as that is printed on the price tag of an article?

  • Selling price
  • Marked price (correct)
  • Sale price
  • Discounted price
  • When calculating a discount, what is the amount that the discount is based on?

  • Marked price (correct)
  • Discounted price
  • Selling price
  • Cost price
  • Which payment term is usually fixed and expressed as an annual sum, paid on a regular basis?

  • Wage (correct)
  • Commission
  • Overtime wage
  • Bonus
  • What is the term used to describe the additional payment to employees who work more than the regular hours in a week?

    <p>Overtime wage</p> Signup and view all the answers

    Which rate of pay is typically associated with workers paid for each hour worked?

    <p>Basic rate</p> Signup and view all the answers

    What type of workers are usually paid wages instead of salaries?

    <p>'Part-time' or 'casually' employed workers</p> Signup and view all the answers

    What is the term for the interest imposed on a loan or deposit amount?

    <p>Amount</p> Signup and view all the answers

    In installment buying, what does the term 'Rate' refer to?

    <p>The rate of interest at which the principal is given</p> Signup and view all the answers

    What is the main difference between compound interest and simple interest?

    <p>Whether interest is calculated on previous interest</p> Signup and view all the answers

    Which term represents the money initially borrowed in an installment purchase plan?

    <p>Principal</p> Signup and view all the answers

    What comprises the total amount that needs to be repaid when taking a loan from a bank?

    <p>Compound Interest</p> Signup and view all the answers

    Which factor determines the final amount to be repaid in installment buying?

    <p>Principal and Interest accumulated</p> Signup and view all the answers

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