Mathslive.ie

FINANCIAL MATHS

Exam Cog
RATIO

Simplify: same units, then divide

Divide: total parts, one part = total÷parts

PERCENTAGES

% of amount: × the decimal

Up: ×(100+x)% · Down: ×(100−x)%

PROFIT & ERROR

Profit = sell − cost

% profit = profit÷cost×100

% error = error÷real×100

COMPOUND INTEREST

F = P(1+i)ₜ

P = F ÷ (1+i)ₜ

i = rate as a decimal

INCOME TAX

Gross tax = rate × income

Net tax = gross − credits

Take-home = income − net tax

FOREIGN EXCHANGE

€1=$x: €→$ ×x, $→€ ÷x

Cross-rate: go through the euro