6th class Money

What does V.A.T stand for?

• Value Added Tax

• Vast and Taxing

• Very Angry Tax

• Value and Tarriff

What is the best definition of V.A.T.?

• A tax on sweets

• A tax that we pay on goods and services that we buy

• A tax on cars

What are the 3 main tax rates in Ireland?

• 0% 13.5% and 23%

• 12%, 23% and 50%

• 5%, 15% and 20%

If a banana costs 40cent and the tax rate is 0%, how much will I pay for the banana in total?

• 40c

• 50c

• 60c

• 45c

If I buy sweets which cost £1 and the VAT is 23%, what is the total cost for me?

• £1

• £1.23

• £3.21

• £1.40

If I save £200 and the bank pays me interest of 10% per annum (per year) how much will I have after 1 year?

• £220

• £200

• £250

• £240

If I save £200 and the bank pays me interest of 10% per annum (per year) how much will I have after 3 years?

• £260

• £220

• £210

• £300

If I buy 5 pencils for £2.50, how much would 1 pencil cost?

• 50c

• 70c

• 75c

• £2.50

If I buy 5 pencils for £2.50, how much would 3 pencil cost?

• £1.50

• 50c

• £1.00

• £2.00

If 2 litres of Coke costs £3 and 500ml of Pepsi costs £0.60, which is best value?

• Coke by 30c per litre

• Pepsi by 30c per litre

• Coke by 45c per litre

• Pepsi by £1 per litre