Business Math Exam 5
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Business Math Exam 5
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25 Questions

1. You deposited $400 on January 1 and kept your money on deposit for one year. You made no deposits or withdrawals. If your bank pays 5% semiannual interest, what compound interest will you earn in one year?
2. Solve 8 5/8 divided by 6 3/8.
3. While Judy Pulver was on a buying trip for her store, she spent the following amounts: hotel and lodging, $96.53; meals, $44.70; tips, $11.70; taxis, $7.45; and telephone calls, $8.35. If Judy started out with $200 in cash, how much will she have left after her trip?
4. The Car Shop charged a customer $487.50 for mechanical repairs to the customer’s car. At a shop rate of $39 per hour, how many hours did the shop charge for making the repairs to the car? Round to the nearest hour.
5. You begin the day with $100.00 in your cash drawer. At the end of the day, you have $285.25 in cash, $54.28 in checks, and $387.87 in credit card slips. You gave a refund of $35.00 to one customer. What were your receipts for the day?
6. Sally works 56 hours in one week. She gets paid 9.75 per hour up to 40 hours and time and a half for all hours over 40. What is her gross pay for this week?
7. Yummy Caterers bought 5 packages of chicken for a barbecue for the local high school team. The packages weighed 3.2, 3.74, 4.59, 4.55, and 3.92 pounds. If the chicken costs $1.29 per pound, how much did Yummy Caterers pay for it?
8. Billy purchases sneakers ($28.95) and a skateboard ($69.95). He gets to the check out and discovers the skateboard is 25% off. If tax is 8.25%, how much will Billy get back from the $100 bill he gave the cashier?
9. A computer box weighs 3 lb. 6 oz. How much do 125 boxes weigh?
10. Shawna Williams, a waitress, wrote $430 in breakfast checks one morning. Her tips average 11% of the total checks. What was her tip income for the morning?
11. Steven worked on a market research project for 1 ½ hours on Monday, 3 ¾ hours on Tuesday, and 2 ¼ hours on Wednesday. How many hours did he spend on the project?
12. Your phone line is used for Internet access 0.75% each 24-hour day. To the nearest minute, how long are you on the Internet?
13. The cost price for a pair of designer slacks is $199.50. The initial markup is $79.00. What is the initial markup percentage based on cost?
14. Solve: 150% of $96
15. Write this number as a percent, .624:
16. Complete the equivalent fraction (Example: 1/4 = 6/24): 7/19 = _____/95
17. 4 1/10 percent is equal to:
18. Your computer has 31 software programs on it and Mike's has 26 on it. What percent of the total does Mike's computer have?
19. You live near many ski resorts and have a passion for skiing. Your dream is to give skiing lessons. You plan to charge $30 a lesson and you estimate your expenses to be $8 per lesson. Your income goal is $34,000 per year. How many lessons do you need to give to achieve this goal? Round to the nearest hour.
20. As a self-employed real estate agent, Robert has both personal and business mileage for his car. He can deduct $0.31 per mile on his federal income tax return for business mileage. If he had 6,240 business miles one year, how much could he deduct?
21. Steve Lenon is paid a salary of $850 a week. What total salary does Steve earn in one year?
22. What interest is paid for three months on $860 at 2 1/4 % annual interest paid quarterly?
23. You are preparing a purchase order for a customer who has ordered 6 staplers, 4 pairs of scissors, and 2 FAX machines. The staplers are $4.35 a piece, the scissors are $3.90 each, and the FAX machines are priced at $55.99. You must charge 6 percent sales tax. You give the customer a discount of 10 percent, what is the total of the order?
24. 6 4/5 percent is equal to:
25. Shoe Crew purchased shoes for its two retail locations. The mall store ordered 20 pairs at $29.90/pair and 40 pairs at $18.50/pair. The downtown store ordered 35 pairs at $29.90/pair and 24 pairs at $18.50/pair. What was the total cost of the shoes for the two stores?

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