About Financial Mathematics — Class 8 IB

Understand simple and compound interest, budgeting, and basic financial literacy concepts. This topic is part of the IB Class 8 mathematics syllabus (chapter: Unit 11). On this page you can practice 60 questions across three difficulty levels — 20 easy, 20 medium, and 20 hard — each with a visual step-by-step solution, plus a timed 35-question mastery test with a live leaderboard. Worked examples and sample questions from the topic are below.

Financial Mathematics — solved examples for Class 8 IB

Practice questions on Financial Mathematics

1. Q1.easy

   A shopkeeper buys an item for $60 and sells it for$75. What is the profit percentage?
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   Answer: 25

   Hint: Profit = selling price − cost price. Profit % = (profit/cost) × 100.

2. Q2.easy

   Find the simple interest on $500 at 4% per annum for 3 years.
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   Answer: 60

   Hint: Simple Interest = P × r × t = 500 × 0.04 × 3.

3. Q3.easy

   A book costs $24 including 20% tax. What was the price before tax?
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   Answer: 20

   Hint: Price with tax = 1.2 × original price. So original = 24/1.2.

4. Q4.medium

   A car worth $25,000 depreciates by 12% per year. What is its value after 3 years? Round to the nearest dollar.
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   Answer: 17036

   Hint: V = 25000 × (0.88)³.

5. Q5.medium

   A trader sells an item for $460 making a 15% profit. What was the cost price?
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   Answer: 400

   Hint: Selling price = 1.15 × cost price. So CP = 460/1.15.

6. Q6.medium

   Two successive discounts of 20% and 10% are applied to a $200 item. What is the final price?
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   Answer: 144

   Hint: Apply discounts sequentially: 200 × 0.8 × 0.9.

7. Q7.hard

   Compound interest on $8000 at 10% per annum for 3 years is:
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   Answer: 2648

   Hint: A = 8000(1.1)³. CI = A − P.

8. Q8.hard

   A product goes through two middlemen, each adding a 20% markup. If the manufacturer's price is $500, what does the consumer pay?
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   Answer: 720

   Hint: First markup: 500 × 1.2. Second markup: result × 1.2.

9. Q9.hard

   At what rate of compound interest will $6000 become$7986 in 2 years?
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   Answer: 15.4

   Hint: 6000(1 + r)² = 7986. Solve for r.

These are 9 of the 60 questions available for Financial Mathematics. Start practicing above to unlock visual solutions, AI coaching, and the topic leaderboard — completely free.