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Business Math Exam
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A (U.S.) business math course typically includes a review of elementary arithmetic, including fractions, decimals, and percentages. Elementary algebra is often included as well, in the context of solving practical business problems.

Business Math Exam
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25 Questions

1. John Doe borrowed $225,000 for 5 years at 6 ½%. The annual interest charge was
2. On January 1, Ceramics Wholesalers started with an inventory of 96 ceramic vases. Shipments of 23, 87, and 32 were sent out on 1/13, 2/18, and 3/11, respectively. Receipts of 25, 50, and 40 were received on 1/20, 2/25, and 3/15, respectively. Find the balance as of 3/15.
3. Bananas are delivered to grocery stores in crates measuring 3 feet by 18 inches by 12 inches. How many cubic feet of storage space are required for 20 crates of bananas?
4. If retirement deductions from salaries are increased from 3 ½% to 6%, what is the monthly amount of the increase in the deduction from a $37,200 salary?
5. Tom Henry started mowing his lawn at 10:45 a.m. and finished at 3:15 p.m. If he took 45 minutest off for lunch, how much time did he spend mowing his lawn?
6. Luxura is shipping 1460 pounds of prototype auto parts by air freight. Pickup is $4.25 per 100 pounds or fractional part. Delivery is $4.10 per 100 pounds or fractional part. The air freight is $12.40 per 100 pounds, charged on actual number of pounds shipped. There is a 4% tax on the air freight and delivery charges. What is the total shipping cost?
7. A clerk sorted 900 file cards at the rate of 150 per hour and later sorted 720 file cards at the rate of 80 per hour. His average rate of sorting the 1,620 file cards was
8. The number .03125 reduced to a common fraction is
9. Lisa Yunker is employed by P.S.I. Associates. The annual premium for comprehensive medical insurance is $1,500. Her employer pays 60% of the cost. How much does Lisa pay?
10. Mr. Whitecomb bought a shirt at the Jayson Department Store for $36.98 plus a state sales tax of 4% and a local sales tax of 3%. What was the total cost of the shirt?
11. T. J. Banks sells hospital equipment for 7% straight commission. Her sales totaled $27,845 in September. What is her pay for the month?
12. Solar Energy, Inc. is issuing 500,000 shares of stock. Each share will be sold at $35. The underwriting commission is 3% of the value of the stock. The other expenses are expected to be 0.6% of the value of the stock. If all the shares of stock are sold, what net proceeds will Solar Energy receive?
13. Betty Adams earns $22,464 a year as a system analyst. The state income tax rate is 4.6% of taxable income. Her personal exemptions total $3,692. How much is withheld each week from Betty's gross pay for state income tax?
14. A clerk saved 12 ½% of his salary. If his salary was $2,480 a month, how many years and months did he work to save $9,300?
15. Carlton Manufacturing had $80,000 in surplus cash. The financial manager decided to invest in a United States Treasury Bill with a face value of $80,000. The bill matured in 126 days. The interest rate was 14.9% ordinary interest at exact time. The bank service fee was $25. What was the cost of the Treasury Bill?
16. Carlita Cruz recorded her math test scores this quarter. What does she need on the next test to have an average of 86?
Test Number12345678
Score8775989582777888
17. Pencils used in an office may be bought at the price of two for forty cents or, when bought in large quantities, at the price of $11.04 for six dozen. What is the saving per dozen when pencils are bought at the lower rate?
18. Office Equipment Company manufactures 2-drawer files cabinets. Each cabinet is stored in a box measuring 2.5 feet high, 1.5 feet wide, and 2.5 feet long. How many cubic feet of space does Office Equipment need to store 1,200 file cabinets?
19. Motel Seven hired 4 high school students to clean its swimming pool. Each student worked for 2.0 hours at an hourly rate of $5.90. The materials charge was $28.45. What was the total charge for this service?
20. Main Street Meat Market has a contract for 20,000 lines of advertising at $0.810 per line in the Herald this year. What is the cost of a 700-line advertisement?
21. The sum of 87 ½, 33 1/3, 12 ½, 88 1/3, 66 2/3, 37 ½, and 62 ½ is
22. The product of 23 and 9 ¾ is
23. Wilbur Clark, a medical technician, is paid $334.60 a week. His earnings to date this year total $9,468.66. The social security tax rate is 7.15% of the first $42,600 earned. How much is deducted from Wilbur's paycheck this week for social security tax?
24. Luminate, Inc., a manufacturer of light bulbs, lists the price of its Low-Glare bulb as $2.98. The net price to the retailer is $2.09. What is the trade-discount rate?
25. During the winter, Tree Grown buys oranges from overseas growers. Tree Grown determines the retail selling price of the oranges by marking up the cost by 120%. The fruit company bought its first shipment of winter oranges for $0.72 per dozen. What is the retail selling price per dozen of this shipment?

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