Number: Vehicles, Business and Reasoning

The real cost of buying, leasing and leasing to buy a vehicle, the viability of a small business, and puzzles that reward logical reasoning.

8 questions, free, marked as you go with a worked explanation on every one.

What this covers

The questions

  1. A car lease requires $3 000 down and 48 monthly payments of $389. What is the total amount paid over the term of the lease, in dollars?
  2. The same car can be financed instead with $4 000 down and 60 monthly payments of $642. What is the total cost of buying it this way, in dollars?
  3. A small bakery takes in $18 500 in sales one month. Ingredients cost $7 200, rent is $2 400 and wages are $5 600. What is the profit for the month, in dollars?
  4. A workshop has fixed costs of $4 800 a month. Each item it makes sells for $25 and costs $13 in materials. How many items must it sell each month to break even?
  5. A work van is bought for $32 000 and loses 18% of its value each year. What is it worth after 3 years, in dollars, rounded to the nearest cent?
  6. A shop buys an item for $48 and marks it up by 35% to set the selling price. What is the selling price, in dollars?
  7. A driver expects to keep a vehicle for ten years and drive it well past the end of any finance term. Which acquisition option is usually cheapest over that period, and why?
  8. Three switches outside a room each control one of three bulbs inside, and the door may be opened only once. A worker turns on switch 1 for ten minutes, turns it off, turns on switch 2, and then enters. How many of the three bulbs can she now identify with certainty?

Answer these free