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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. Alton Gordon purchased 500 shares of Keeners stock at 15 5/8. He was charged a $40 commission. What was the total amount paid for the purchase?
2. For a 3-month period a student received $4.50 as interest on an investment of $300. What annual percent of interest did he receive?
3. 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?
4. Add 5 hr. 13 min.; 3 hr. 49 min.; and 14 min. The sum is
5. The percentage of increase from 2 to 3 is
6. Jean Fargo is a computer consultant. Her travel expenses this month include: air fare $950, taxi fares $65.50, meals $342.20, hotels $695.30, and miscellaneous 42.30. What is Jean's total travel expense?
7. The Franklin County tax assessor stated that the market value of the Lumm estate is $925,000. The rate of assessment in Franklin County is 35% of the market value. The tax rate is 48.15 mills. What is the annual real estate tax on the Lumm estate?
8. 72 divided by .009 is
9. Ben and Tom drove to Chicago - a distance of 510 miles. Their car gets 23 miles per gallon of gasoline. Gasoline costs them. $2.99 per gallon. How much did they spend for gasoline on their trip?
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. Bev Houlson works part-time for the Fidelity Insurance Corporation. She presently earns $16,960 annually. Bev will receive a 6.8% cost-of-living increase and a 5.4% salary increase. What will Bev's new salary be?
12. Of the following, the correct solution of 3.48 x .009 is
13. Martha Duvall keeps records of family expenses. Total monthly expenses for September, October, and November were $1,026.60, $1,352.75, and $1,128.25, respectively. What was their average monthly expenditure for these months?
14. On October 1, Barker's bank statement showed a balance of $3,897.50. Checks for the following amounts were outstanding: $38.48; $73.00; $148.40; $201.10; $307.17. What was Barker's correct available bank balance on that date?
15. The cash price of a food freezer is $699. The installment price for the same freezer includes a down payment of $69.90 plus 12 monthly payments of $58.05. How much money would be saved by purchasing the food freezer for cash?
16. Foster Machine Company pays $90,000 per year for security. The company apportions the cost among its departments based on space. The Research Department occupies an area that measures 60 feet by 60 feet. The building contains 1,200,000 square feet. How much does the Research Department pay for security?
17. A sales man makes a commission of 6% on sales. To make a commission of $72, he will have to sell merchandise totaling
18. What percent of 4 is 5?
19. 27/64 expressed as a percent is
20. 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?
21. 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?
22. 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?
23. A clerk divided his 35 hour week as follows: 1/5 of his time in sorting mail; ½ of his time in filing letters; and 1/7 of his time in reception work. The rest of his time was devoted to messenger work. The percentage of time spent on messenger work by the clerk during the week was most nearly
24. Michael Null purchases 3 cans of soup at 67¢ a can, 2 pounds of green beans at 79¢ a pound, a $1.49 box of laundry detergent, and a package of chicken for $3.74. The sales tax rate is 5.5%. What is the total price?
25. The Foley Contracting Company bought the following loads of sand this week: Monday, 4 ¼; Tuesday, 7 3/8; Wednesday, 12 ½; Thursday, 11 2/3; Friday, 8 5/6. What was the total number of loads of sand bought by the Foley Company this week?

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