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100+ Free TASC General Mathematics Level 3 Practice Questions
Tasmanian Assessment, Standards and Certification General Mathematics Level 3 (MTG315123) practice questions are available now; exam metadata is being verified.
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Key Facts: TASC General Mathematics Level 3 Exam
TASC Course Code
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TASC General Mathematics Level 3 (MTG315123) is a senior secondary TCE Level 3 course assessing consumer finance, linear models, trigonometry, matrices, network analytics, and statistics for ATAR pathways in Tasmania. These practice questions are an English-language multiple-choice study aid for revising course knowledge and are not an official TASC paper or a simulation of the written external examination format.
Sample TASC General Mathematics Level 3 Practice Questions
Try these sample questions to test your TASC General Mathematics Level 3 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1An investor deposits $8,500 into a fixed deposit account earning 4.2% per annum simple interest for 3.5 years. Calculate the total interest earned.
A.$1,249.50
B.$9,749.50
C.$1,275.00
D.$1,385.20
Explanation: Simple interest is calculated using I = P * r * t. Substituting the given values: I = 8500 * 0.042 * 3.5 = $1,249.50.
2A principal of $12,000 is invested at an interest rate of 6.0% p.a. compounded quarterly for 2 years. What is the final value of the investment rounded to the nearest cent?
A.$13,440.00
B.$13,517.91
C.$13,579.48
D.$14,028.32
Explanation: Using the compound interest formula A = P(1 + r/n)^(n*t): rate per period i = 0.06 / 4 = 0.015, number of compounding periods n = 4 * 2 = 8. A = 12000 * (1.015)^8 = 12000 * 1.126492587 = $13,517.91.
3A bank offers a nominal interest rate of 7.2% per annum compounded monthly. What is the effective annual interest rate (EAR) rounded to two decimal places?
A.7.20%
B.7.44%
C.7.52%
D.7.68%
Explanation: The effective annual rate formula is r_eff = (1 + r/m)^m - 1. Monthly rate i = 0.072 / 12 = 0.006. r_eff = (1.006)^12 - 1 = 1.074424 - 1 = 0.074424 or 7.44%.
4A delivery van purchased for $45,000 depreciates by $4,200 each year using flat rate (prime cost) depreciation. What is its book value after 6 years?
A.$25,200
B.$19,800
C.$21,400
D.$18,600
Explanation: Flat rate depreciation decreases value by a fixed amount each year: Total Depreciation = 6 * $4,200 = $25,200. Book Value = Initial Cost - Total Depreciation = $45,000 - $25,200 = $19,800.
5Industrial machinery costing $80,000 depreciates at a reducing balance rate of 15% per annum. Calculate the value of the machinery at the end of 4 years, rounded to the nearest dollar.
A.$32,000
B.$41,760
C.$49,130
D.$68,000
Explanation: Under reducing balance depreciation, V = V_0 * (1 - r)^n. Here V_0 = 80000, r = 0.15, n = 4. V = 80000 * (0.85)^4 = 80000 * 0.52200625 = $41,760.50, which rounds to $41,760.
6An item costs $250 today. If the average inflation rate is 3.5% per annum, how much will the same item be expected to cost in 5 years time?
A.$293.75
B.$296.92
C.$301.25
D.$312.40
Explanation: Future cost under inflation is modeled by compound growth: Cost = 250 * (1 + 0.035)^5 = 250 * (1.035)^5 = 250 * 1.187686 = $296.92.
7A loan of $20,000 is taken out at 6% p.a. interest compounding monthly, with monthly repayments of $400. The recurrence relation model is V_0 = 20000, V_{n+1} = 1.005 V_n - 400. Calculate the balance outstanding after 2 months (V_2).
A.$19,200.00
B.$19,398.50
C.$19,400.00
D.$19,700.00
Explanation: Step 1: V_1 = 1.005 * 20000 - 400 = 20100 - 400 = $19,700.00. Step 2: V_2 = 1.005 * 19700 - 400 = 19798.50 - 400 = $19,398.50.
8An endowment fund is established to pay an annual scholarship of $6,000 indefinitely. If the investment earns a guaranteed rate of 4.8% p.a., what principal amount must be invested in the perpetuity?
A.$125,000
B.$288,000
C.$144,000
D.$120,000
Explanation: For a perpetuity, Payment = Principal * r, so Principal P = Payment / r. P = 6000 / 0.048 = $125,000.
9Sarah deposits $500 at the end of every month into a savings annuity account earning 6% p.a. interest compounded monthly. What is the total value of her annuity after 3 years (36 payments), rounded to the nearest dollar?
A.$18,000
B.$19,668
C.$20,120
D.$21,450
Explanation: Future value of annuity FV = R * [(1+i)^n - 1] / i. R = 500, i = 0.06/12 = 0.005, n = 36. FV = 500 * [(1.005)^36 - 1] / 0.005 = 500 * (1.196681 - 1) / 0.005 = 500 * 39.33618 = $19,668.09, which rounds to $19,668.
10A portion of a loan amortisation schedule shows an opening balance of $15,000. The monthly interest rate is 0.5% and the monthly payment is $350. How much of the first monthly payment goes towards reducing the principal?
A.$75
B.$275
C.$350
D.$200
Explanation: Monthly Interest = Opening Balance * Monthly Rate = 15000 * 0.005 = $75. Principal Reduction = Monthly Payment - Monthly Interest = $350 - $75 = $275.
About the TASC General Mathematics Level 3 Practice Questions
Verified exam format metadata for Tasmanian Assessment, Standards and Certification General Mathematics Level 3 (MTG315123) is pending. The practice questions above remain available while official exam length, timing, passing score, fee, and administrator details are reviewed.