Workforce Numerical Past Questions and Answers


Use the table above to answer the below questions.


56)

Competitor C moves to a country charging 15% corporation tax and corporation tax falls to 22% for Competitors A and B. What is the total corporation tax payable for the 3 competitors (based upon the Profit before tax figures shown)?

Answer : A

Explanation:

Step 1 – Calculate the corporation tax payable for each competitor
Competitor A = 90 x 22% = 19.8
Competitor B = 112 x 22% = 24.6
Competitor C = 117 x 15% = 17.6

Step 2 – Calculate the total corporation tax payable 19.8  24.6 + 17.6 = £62 million
Thus the correct answer is (A) £62 million
57)

What was the average Gross profit across the 3 competitors (to the nearest £10million)?

Answer : A

Explanation:

Step 1 – Calculate the total Gross Profit 128 + 148 + 147 = 423
Step 2 – Calculate the average 423 / 3 = 141
Step 3 – To the nearest £10million = £140 million
Thus the correct answer is (A) £140 million
58)

What would be the difference in Euros if Competitor A used an exchange rate of 1£ = 1.20, rather than 1£ = 1.15, when calculating its Profit after tax?

Answer : E

Explanation:

Step 1 – Calculate the difference in the exchange rate 1.20 - 1.15 = 0.05
Step 2 – Calculate the difference in Euros 0.05 x 63 = 3.15 million
Thus the correct answer is (E) 3.15 million
59)

Competitor B and Competitor C choose to declare their Revenues in $ and Euros respectively. What are these figures? (Use the exchange rates 1£ = $1.66; 1£ = 1.15).

Answer : B

Explanation:

Step 1 – Calculate Competitor B revenue in $ 632 x 1.66 = $1,049
Step 2 – Calculate Competitor C revenues in Euros 600 x 1.15 x = 690
Thus the correct answer is (B) $1,049 million (Competitor B); 690 million (Competitor C)
60)

If Profit before tax increases by 15% for Competitor B and decreases by 8% for Competitor A, what is the difference between Competitor A and Competitor B?s corporation tax payments (to the nearest £million)?

Answer : C

Explanation:

Tip: Don’t be caught out by the fact that the question lists Competitor B first, when you might be expecting to see Competitor A then Competitor B. This is intended to throw those not paying attention.

Step 1 – Add 15% to Competitor B’s profit before tax 112 x 115% = 128.8
Step 2 – Decrease Competitor A’s profit before tax by 8% 90 x 92% = 82.8
Step 3 - Calculate the difference in corporation tax (at 30%) (128.8 – 82.8) x 30% = 13.8 = £14 million (to the nearest £million)

Thus the correct answer is (C) £14 million

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