Business Math - 2006 SLC - Weebly



Business Math - 2006 SLC

1) Your FBLA chapter has been invited to attend a national conference in Washington D.C. Each member must raise $1,150.00 to go. Jenny is able to save $25/week from her babysitting job. How many weeks must she save to raise enough money for the national conference in Washington, D.C.?

A) 46 weeks

B) 36 weeks

C) 41 weeks

D) 52 weeks

Use for the next 3 questions.

Tim and Mary Jones budget 27% of their annual income of $85,300 for food, 38% for housing including operating expenses and furnishings, 9% for transportation, 7% for clothing, 12% for savings, and the remainder for emergencies and miscellaneous.

2) How much do Tim and Mary budget monthly for food?

A) $19,192.50

B) $23,031.00

C) $ 1,919.25

D) $ 2,303.10

3) What is the total amount Tim and Mary budget for one year for their housing?

A) $32,414.00

B) $27,011.67

C) $ 2,701.17

D) $34,214.00

4) What percent of the Jones’ budget is for emergencies and miscellaneous?

A) 9%

B) 5%

C) 11%

D) 7%

5) Jason is hired as a new teacher on a 10-month contract for $28,950. If he receives monthly checks for the entire year, what is his monthly gross pay?

A) $2,412.50

B) $2,421.50

C) $2,895.00

D) $2,859.00

6) An employee is paid 1-1/2 times the regular rate for overtime work. The regular rate is $12.75 per hour. What is the employee’s overtime rate?

A) $13.75

B) $17.52

C) $18.86

D) $19.13

Use for the next 6 questions.

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7) Compute the sales tax rate for the total selling price of $163.00 in the table above.

A) 9.31%

B) 1.074%

C) .0931%

D) 10.74%

8) Compute the total purchase price for the total selling price of $163.00 in the table above.

A) $180.05

B) $108.50

C) $180.50

D) $145.50

9) Compute the total selling price for the total purchase price of $191.00 in the table above.

A) $172.96

B) $172.69

C) $209.31

D) $211.25

10) Compute the sales tax rate for the total purchase price of $191.00 in the table above.

A) 8.77%

B) 8.7%

C) 10.6%

D) 9.6%

11) Compute the sales tax for the total selling price of $141.00 in the table above.

A) $564.00

B) $ 5.64

C) $ 0.56

D) $ 56.40

12) Compute the total purchase price for the total selling price of $141.00 in the table above.

A) $705.00

B) $146.64

C) $197.40

D) $141.56

Use for the next 3 questions.

Internet traffic on Google is being monitored by their Web master. The total numbers of visitors to the site last week by day are:

Mon. = 37,988

Tues. = 43,905

Wed. = 58,106

Thurs. = 60,561

Fri. = 76,145

13) What is the mean of people surfing the Internet for these days?

A) 55,341

B) 50,867

C) 52,564

D) 58,789

14) What is the range of these numbers?

A) 76,145

B) 58,106

C) 38,157

D) 37,988

15) What is the median of the people surfing the Internet last week?

A) 58,106

B) 60,561

C) 37,988

D) 76,145

16) What is 18 + -26?

A) -44

B) 8

C) –8

D) 44

17) What is the absolute value of –15?

A) –1.5

B) 15

C) 1.5

D) -15

18) Find the product of 0.973 and 1.918.

A) .01866214

B) 1.866214

C) 18.66214

D) .1866214

19) A 25 lb. bag of dog food cost $9.25. What is the unit price per pound?

A) $0.35

B) $0.37

C) $0.34

D) $3.70

Use for the next 2 questions.

Elaine Jackson purchased 2 sweaters at $24.99 each, a belt for $14.49, slacks for $19.79, shoes for $54.49, and 5 pairs of socks for $3.99 a pair.

20) How much did Elaine spend before sales tax was added?

A) $158.70

B) $133.71

C) $142.74

D) $144.21

21) Assuming Elaine’s sales tax is 6-3/4%, what was Elaine’s total cost?

A) $169.41

B) $153.94

C) $142.74

D) $152.37

22) Mary Jones worked 44 hours last week earning an hourly rate of $17.25. What is Mary’s gross pay for the week? They work a 40-hour week and anything over is considered time and a half.

A) $759.00

B) $739.50

C) $793.50

D) $690.00

23) Find the product of 1-1/4 and 1-1/3.

A) 2-2/7

B) 1-1/12

C) 1-2/3

D) 3/5

24) Ellen used 3/4 dozen sheets of photo paper to print her pictures. How many twelfths is 3/4?

A) 9/12

B) 5/12

C) 7/12

D) 11/12

25) A businessman decided to lose 15 2/3 pounds before applying for health insurance. How much did he weigh after his weight loss if he originally weighed 208 1/8 pounds?

A) 193 11/24

B) 192 11/24

C) 193 11/24

D) 193 7/8

26) Gerald bought a 25-foot roll of wire. After using 2/3 of the roll of wire, how many feet of wire are left unused?

A) 15 2/3

B) 9 1/3

C) 16 2/3

D) 8 1/3

27) Richard purchased 15 7/8 yards of carpet off of a roll holding 25 yards. How much carpet is left on the roll to sell to another customer?

A) 10 1/8 yards

B) 9 1/8 yards

C) 8 3/4 yards

D) 5 7/8 yards

28) Phyllis paid $22.3293 in sales tax on an item costing $318.99. What sales tax percentage did Phyllis pay?

A) .1428%

B) .07%

C) 14.28%

D) 7.0%

29) $285 is what percentage of $2,375?

A) 83.3%

B) 12%

C) .12%

D) 8.33%

30) The markdown on a television that normally sold for $569 was $85.35. What was the markdown rate on the television?

A) 6.67%

B) 66.70%

C) 15%

D) 1.5%

Use for the next 4 questions.

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31) Calculate the first discount of the two chain discounts.

A) $ 45.00

B) $ 90.00

C) $ 75.00

D) $135.00

32) Calculate the first net price.

A) $360.00

B) $375.00

C) $315.00

D) $405.00

33) Calculate the second discount.

A) $56.25

B) $40.50

C) $94.50

D) $36.00

34) Compute the final net price.

A) $318.75

B) $364.50

C) $220.50

D) $324.00

35) You are on a 5-hour trip, and your speed for the first two hours only averaged 58 mph because of slow traffic. How fast must you drive for the last 3 hours to average 65 mph for the entire trip(round up if needed)?

A) 75 m.p.h.

B) 68 m.p.h.

C) 70 m.p.h.

D) 72 m.p.h.

36) John received $20 for his birthday. He decided to donate 3/5 of his money to the American Cancer Society. What was John’s donation?

A) $ 7.00

B) $17.00

C) $12.00

D) $ 9.00

Use for the next 3 questions.

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37) Compute the new balance using the information in Row 1 of the table above.

A) $302.91

B) $494.95

C) $394.95

D) $294.81

38) Compute the previous balance using the information in Row 2 of the table above.

A) $444.00

B) $412.00

C) $400.00

D) $452.00

39) Compute the finance charge using the information in Row 3 of the table above.

A) $84.24

B) $32.50

C) $ 7.96

D) $ 9.62

40) Find the net change in a stock if it opened at 69 7/8 and closed at 62 3/4.

A) 7 5/8 points gain

B) 7 5/8 points loss

C) 7 1/8 points loss

D) 7 1/8 points gain

41) Kathy earns $2,580 a month. She has chosen to save 1/3 of her income this year. How much money will Kathy be saving each month?

A) $ 806.00

B) $1,720.00

C) $ 816.00

D) $ 860.00

42) George and Leona traveled 665.4 miles on a trip using 40.3 gallons of fuel. What was George and Leona’s gas mileage on this trip?

A) 15.6 miles per gallon

B) 16.5 miles per gallon

C) 21.5 miles per gallon

D) 26.6 miles per gallon

Use for the next 3 questions.

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43) Compute the net price for the list price of $150.00 using the information in the table above.

A) $130.00

B) $170.00

C) $180.00

D) $120.00

44) Compute the list price for the net price $481.95 using information in the table above.

A) $602.44

B) $642.60

C) $321.30

D) $624.60

45) Compute the trade discount rate for the list price of $213.74 using information in the table above.

A) 9.2%

B) 8.0%

C) 8.7%

D) 12.5%

46) Change 27/50 to a decimal.

A) 0.45

B) 5.04

C) 0.54

D) 5.40

47) What is 8.0765% as a decimal?

A) 807.65

B) .0080765

C) .80765

D) .080765

48) A sightseeing bus to the mountains cost $3.50 for the first hour or any part of an hour. Each additional hour or part of an hour will cost $1.75. What will be the total cost for a 5 1/2 hour bus tour?

A) $11.25

B) $10.75

C) $11.75

D) $12.25

49) Donald owns 10 shares of ABC stock that pays a 43 1/2 cent per share dividend each quarter. What are the total dividends earned in one year?

A) $174.00

B) $ 17.40

C) $ 4.35

D) $ 43.50

50) Jeanette was paid $8.72 an hour and 1 1/2 times that rate for overtime. 7.65% FICA tax is withheld from her paycheck. Calculate her net pay for 47 hours of work. A regular work week is 40 hours.

A) $409.84

B) $406.67

C) $440.36

D) $378.49

51) Find the yearly premium for a $150,000 insurance policy costing $.28 per hundred.

A) $420.00

B) $ 42.00

C) $535.71

D) $168.00

52) Debbie received her monthly bank statement for her checking account. The bank reports an ending balance of $598.45, which includes the bank’s monthly charge of $8.50. There are four outstanding checks: #13–781 for $24.68; #23–788 for $123.98; #21–349 for $8.32, and #43–214 for $52.91. Debbie’s checkbook shows a balance of $397.06. What is Debbie’s adjusted checkbook balance?

A) $397.06

B) $187.17

C) $388.56

D) $195.67

53) What is 13 1/3 – (-5 3/4)?

A) 7 5/12

B) 8 1/4

C) 19 1/12

D) 19

54) Ernie and Diane own a home with a market value of $254,000. The land is valued at 20% of the market value. Tax is assessed on the value of the home minus the value of the land. What is the value upon which tax is assessed?

A) $254,000

B) $203,200

C) $304,800

D) $ 50,800

55) Find the sum of 6, -8, 11, -3, and 4.

A) 10

B) 14

C) -26

D) -10

Use for the next 3 questions.

Date of Invoice – October 21

Invoice Amount – $435.51

Terms – 2/15, n/30

56) What is the cost if the buyer pays the invoice on October 31?

A) $370.18

B) $435.51

C) $304.86

D) $426.80

57) What is the percent of discount being offered?

A) 30%

B) 15%

C) 13%

D) 2%

58) How many days is the discount offered on this invoice?

A) 13 days

B) 30 days

C) 15 days

D) 2 days

59) Which of the following 4 numbers is the largest: 3/8, .0375, 2/5, or .25?

A) .0375

B) .25

C) 3/8

D) 2/5

60) Mr. Brown can buy a digital camera for the cash price of $299.99 or pay the installment price of $25 down and $21.09 a month for 15 months. How much can he save by paying cash for the camera?

A) $ 8.64

B) $25.95

C) $16.36

D) $41.36

61) Electricity is billed at $0.055 per kilowatt for a baseline 313 kilowatts and $0.122 per kilowatt for any usage above the baseline amount. Kate used 433 kilowatts last month. How much is she charged?

A) $31.86

B) $14.09

C) $25.76

D) $29.76

Use for the next 4 questions.

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62) Find the complement of the trade discount rate for the list price of $180.00 using the table above.

A) 80%

B) 60%

C) 20%

D) 40%

63) Compute the net price for the list price of $180.00 using the complement of trade discount using the table above.

A) $ 36.00

B) $108.00

C) $ 72.00

D) $144.00

64) Compute the trade discount rate for the list price of $65.45 using the table above.

A) 85.3%

B) 68%

C) 32%

D) 14.7%

65) Compute the complement trade discount for the list price of $65.45 in the table above.

A) 32%

B) 68%

C) 14.7%

D) 85.3%

66) There are 24 boys and 21 girls playing basketball this year. What is the ratio of boys to girls?

A) 3/2

B) 2/3

C) 7/8

D) 8/7

67) Find the volume of a rectangular solid that has a length of 7 feet, a width of 3 feet, and a depth of 4 feet.

A) 28 cubic feet

B) 48 cubic feet

C) 25 cubic feet

D) 84 cubic feet

68) Wallpapering a room required 8 rolls of wallpaper at $17.99 a roll. Sales tax was 6 1/4%. What was the total cost of the wallpaper rounded to the nearest cent?

A) $ 89.95

B) $152.92

C) $134.92

D) $143.92

69) You are working on a project that requires 17 yards of fabric. How many inches of fabric will you be purchasing?

A) 621 inches

B) 85 inches

C) 612 inches

D) 51 inches

70) Vickie answered 28 questions correctly and missed 12 questions. What percent of the questions did Vickie not answer correctly?

A) 70%

B) 30%

C) 25%

D) 75%

71) 2565 centimeters is equal to how many meters?

A) 256.5

B) 2.565

C) .2565

D) 25.65

72) Trent Dillon was comparing prices for frozen turkeys. A 3 lb. turkey was priced at $4.92, 5 lb. turkey was priced at $7.95, 7 lb. turkey at $10.50, and 9 lb. turkey at $13.77. Which turkey is the best buy?

A) 3 lb. turkey

B) 7 lb. turkey

C) 9 lb. turkey

D) 5 lb. turkey

73) Arrange 4.98, 4.908, 4.098, and 4.9 in order with the smallest number first.

A) 4.098, 4.9, 4.908, 4.98

B) 4.9, 4.908, 4.98, 4.098

C) 4.98, 4.908, 4.9, 4.098

D) 4.098, 4.98, 4.098, 4.9

74) What is the sum of 4/5 and 2/3?

A) 1 7/15

B) 2 3/15

C) 3/4

D) 8/15

75) Convert the annual percentage rate of 21% into a monthly rate.

A) .0175%

B) 1.75%

C) 17.5%

D) 2.10%

76) Find the decimal for 9.1%.

A) .0091

B) 91.0

C) .910

D) .091

77) The Denver Ski Shop is selling a pair of ski boots at 22% below its regular price of $260. How much does the buyer pay for the boots?

A) $254.28

B) $ 57.20

C) $238.00

D) $202.80

Use for the next 2 questions.

Sara Vicker’s borrowed $1,200 at a rate of 12% for 63 days. Her bank charges ordinary interest on her single-payment loan.

78) What was the maturity value of Sara’s loan?

A) $ 1,452.00

B) $ 1,224.85

C) $ 1,225.20

D) $10,072.00

79) What was the amount of Sara’s interest on her loan?

A) $ 25.20

B) $ 252.00

C) $ 24.85

D) $9,072.00

80) Find 422% of 782.

A) 33.0004

B) 330.04

C) 3,300.04

D) 185.31

81) 5/8 pound of cheese costs $1.59. What is the cost of one pound of cheese?

A) $2.54

B) $0.99

C) $0.88

D) $2.45

82) The Smith’s flew from Orlando, Florida to Los Angeles, California. Mr. and Mrs. Smith paid $510 each, their two teenage sons paid $470 each, and their baby daughter’s ticket cost $150. What is the average price per person?

A) $431.00

B) $422.00

C) $226.00

D) $328.00

83) How many 1/4 pound hamburgers can be made from 5 3/4 pounds of meat?

A) 25 hamburgers

B) 23 hamburgers

C) 18 hamburgers

D) 21 hamburgers

84) When Dyke’s extension ladder is closed, it measures 15 ¼ feet long. When the ladder is fully extended, it measures 27 3/8 feet long. What is the length of the extension?

A) 12 1/8 feet

B) 11 5/8 feet

C) 11 7/8 feet

D) 12 3/8 feet

85) If 1 cubic foot of water weighs 62 1/2 pounds, find the weight of a pool of water containing 64 cubic feet of water.

A) 3,972 pounds

B) 3,000 pounds

C) 4,000 pounds

D) 3,968 pounds

86) Find the quotient for .2415 divided by .007.

A) 345.0

B) 34.5

C) .3450

D) 3.450

87) Kevin’s $2,830 laptop computer depreciates 11% the first year, 8% the second year, and 5% the third year. What is the book value of the laptop at the end of the third year?

A) $2,201.34

B) $2,510.80

C) $2,102.43

D) $2,150.80

88) Jill bought a stereo system at 25% of the regular price and saved $132.75. What was the original price of the stereo system?

A) $471.52

B) $331.88

C) $513.00

D) $531.00

89) The swimming pool in your back yard is 15 yards long, 9 yards wide, and 4.5 feet deep. How many cubic feet of water does your swimming pool hold?

A) 607.50 cu. ft.

B) 1,822.50 cu. ft.

C) 67.50 cu. ft.

D) 5,467.50 cu. ft.

90) Find the net change in a stock if it opened at 59 3/8 and closed at 61 1/4.

A) 1 7/8 points loss

B) 1 7/8 points gain

C) 2 3/8 points loss

D) 2 3/8 points gain

91) Find the product of 7/8, 2 3/4, 7.4, and 0.16.

A) 2.849

B) 1.554

C) 15.54

D) .2849

92) Find the mean for 5.7 + 6.3 + 4.2 + 5.8 + 3.4.

A) 25.4

B) 5.1

C) 5.08

D) 6.3

93) Put the fractions in order from the lowest to the highest value.

A) 1/8, 1/6, 1/4, 1/2, 1/3, 1/5, 1/7

B) 1/8, 1/7, 1/6, 1/5, 1/4, 1/3, 1/2

C) 1/2, 1/4, 1/3, 1/6, 1/5, 1/8, 1/7

D) 1/2, 1/3, 1/4, 1/5, 1/6, 1/7, 1/8

94) Find the quotient of 3/5 divided by 1/2.

A) 1

B) 3/10

C) 3 1/3

D) 1 1/5

95) The Sony Company sold a digital camera at a wholesale price of $210. The XYZ Department store uses a 15% markup. What is the retail price of the camera?

A) $231.50

B) $ 31.50

C) $241.50

D) $178.50

96) Jerrica O’Reilly deposited $800 into a savings account at Nations National Bank. The account earned an annual interest rate of 5 1/2%. What was her interest after three months?

A) $ 11.00

B) $ 13.20

C) $110.00

D) $132.00

97) John Miller earned $469.55 this week as a research assistant. His employer withheld 7.65% of his check for social security and Medicare taxes. In addition $9.13 was withheld for state taxes and $66.90 for federal taxes. What was the total amount deducted from John’s weekly check?

A) $ 37.91

B) $102.82

C) $111.95

D) $ 35.92

98) Gerald Davis obtained a discount loan of $1,500 at an interest rate of 18.65%. The loan was granted to Gerald for 146 days. The bank Gerald was borrowing from uses exact interest. What proceeds did Gerald receive?

A) $ 111.90

B) $1,386.55

C) $ 133.45

D) $1,388.10

99) Find the monthly finance charge for an average daily balance of $145.59 and annual percentage rate of 24%.

A) $ 34.94

B) $291.18

C) $ 2.91

D) $ 29.11

100) Using the chain discount complement method, find the net-price rate when a chain discount of 30% less 20% less 5% is offered.

A) 45%

B) 55%

C) 5%

D) 53.2%

|1) |A |

|2) |C |

|3) |A |

|4) |D |

|5) |A |

|6) |D |

|7) |D |

|8) |C |

|9) |B |

|10) |C |

|11) |B |

|12) |B |

|13) |A |

|14) |C |

|15) |A |

|16) |C |

|17) |B |

|18) |B |

|19) |B |

|20) |A |

|21) |A |

|22) |C |

|23) |C |

|24) |A |

|25) |B |

|26) |D |

|27) |B |

|28) |D |

|29) |B |

|30) |C |

|31) |B |

|32) |A |

|33) |D |

|34) |D |

|35) |C |

|36) |C |

|37) |A |

|38) |C |

|39) |C |

|40) |C |

|41) |D |

|42) |B |

|43) |D |

|44) |B |

|45) |B |

|46) |C |

|47) |D |

|48) |D |

|49) |B |

|50) |B |

|51) |A |

|52) |C |

|53) |C |

|54) |B |

|55) |A |

|56) |D |

|57) |D |

|58) |C |

|59) |D |

|60) |D |

|61) |A |

|62) |A |

|63) |D |

|64) |C |

|65) |B |

|66) |D |

|67) |D |

|68) |B |

|69) |C |

|70) |B |

|71) |D |

|72) |B |

|73) |A |

|74) |A |

|75) |B |

|76) |D |

|77) |D |

|78) |C |

|79) |A |

|80) |C |

|81) |A |

|82) |B |

|83) |B |

|84) |A |

|85) |C |

|86) |B |

|87) |A |

|88) |D |

|89) |D |

|90) |B |

|91) |A |

|92) |C |

|93) |B |

|94) |D |

|95) |C |

|96) |B |

|97) |C |

|98) |D |

|99) |C |

|100) |D |

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