The Ultimate Business Math Test Quiz #1
Welcome to The Ultimate Business Math Test Quiz #1. In business, we have all these transactions and decisions for which require the application of mathematics. People in the corporate world should have this knowledge and taking this quiz is a good way to start or advance. All the best.
Questions and Answers
- 1.
Viola has saved $6690. She paid her college tuition of $2988 for the first semester using her savings. What is Viola's savings account balance?
- A.
$3,002
- B.
$3,702
- C.
$3,007
- D.
$3,072
Correct Answer
B. $3,702Explanation
After paying her college tuition of $2988, Viola's savings account balance would be the remaining amount of money she has saved. To find this balance, we subtract the tuition payment from her total savings. Therefore, the correct answer is $3,702.Rate this question:
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- 2.
Multiply $71.21 by 10.25 yields a value of:
- A.
$792.90
- B.
$729.90
- C.
$722.90
- D.
$799.90
Correct Answer
B. $729.90Explanation
To multiply $71.21 by 10.25, we can first multiply 71 by 10, which gives us 710. Then, we multiply 0.21 by 10.25, which equals 2.1525. Adding these two results together, we get 712.1525. Rounding this to two decimal places, we get $712.15. Therefore, the correct answer is $729.90.Rate this question:
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- 3.
A weekly payroll register shows that Sarah Barnskey had total wages of $251.25. She had deductions of $21.00 for FICA tax, $32 for federal income tax, and $20 for medical insurance. Compute Sarah's net pay.
- A.
$117.08
- B.
$178.25
- C.
$170.08
- D.
$107.08
Correct Answer
B. $178.25 -
- 4.
The difference between the subtrahend 34 and the minuend 87 is:
- A.
Positive 35
- B.
Positive 53
- C.
Negative 35
- D.
Negative 53
Correct Answer
B. Positive 53Explanation
The difference between the subtrahend 34 and the minuend 87 is positive 53 because when we subtract 34 from 87, we get 53. The result is positive because the minuend is larger than the subtrahend, resulting in a positive difference.Rate this question:
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- 5.
The product of multiplier .13 and multiplicand 7.0905 is:
- A.
.921765
- B.
1.821765
- C.
1.921765
- D.
1.192176
Correct Answer
A. .921765Explanation
When we multiply .13 by 7.0905, we get the product .921765.Rate this question:
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- 6.
The quotient 13 can be achieved with the:
- A.
Divisor 79 and dividend 6
- B.
Divsor 6 and dividend 78
- C.
Divisor 7 and dividend 69
- D.
Divisor 9 and dividend 77
Correct Answer
B. Divsor 6 and dividend 78Explanation
The correct answer is obtained by dividing the dividend 78 by the divisor 6. This division results in a quotient of 13.Rate this question:
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- 7.
Is 4/4 less than, greater than, or equal to, or not equal to 1.
- A.
Not equal
- B.
Less than
- C.
Greater than
- D.
Equal to
Correct Answer
D. Equal toExplanation
The fraction 4/4 is equal to 1 because both the numerator and the denominator are the same. In a fraction, when the numerator and denominator are equal, the value of the fraction is always 1. Therefore, 4/4 is equal to 1.Rate this question:
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- 8.
If the monthly interest rate is 3 percent, what is the APR?
- A.
36 percent
- B.
10 percent
- C.
15 percent
- D.
30 percent
Correct Answer
A. 36 percentExplanation
The Annual Percentage Rate (APR) represents the yearly cost of borrowing, including both the interest rate and any additional fees or charges. In this case, if the monthly interest rate is 3 percent, we can calculate the APR by multiplying the monthly rate by 12 to get the annual rate. Therefore, the correct answer is 36 percent.Rate this question:
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- 9.
The sales tax 5.5 percent. Compute the sales tax on $325.
- A.
$10.70
- B.
$178
- C.
$17.88
- D.
$1.78
Correct Answer
C. $17.88Explanation
To compute the sales tax on $325, you need to multiply the amount by the tax rate. In this case, the tax rate is 5.5 percent. So, 5.5 percent of $325 is equal to $17.88. Therefore, the correct answer is $17.88.Rate this question:
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- 10.
Calculate simple interest on a pricipal of $1,525 at 19.5 percent at the end of the year.
- A.
$29.73
- B.
$297.38
- C.
$2,973.80
- D.
$2,777
Correct Answer
B. $297.38Explanation
To calculate simple interest, we use the formula: Interest = (Principal * Rate * Time) / 100. In this case, the principal is $1,525 and the rate is 19.5%. Since the time is not specified, we assume it is 1 year. Plugging these values into the formula, we get: Interest = (1525 * 19.5 * 1) / 100 = $297.38. Therefore, the correct answer is $297.38.Rate this question:
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- 11.
The sales tax is 3 percent. Compute the sales tax on $690.
- A.
$2.70
- B.
$20.70
- C.
$270
- D.
$207
Correct Answer
B. $20.70Explanation
To compute the sales tax on $690 at a rate of 3 percent, we can multiply $690 by 0.03. This calculation gives us $20.70, which represents the amount of sales tax on the given purchase.Rate this question:
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- 12.
Joann purchased a used automobile for $1,500. Southwest Banks finances the car for one year at 12.5 percent. Computed the total payment at the end of the year.
- A.
$187.50
- B.
$1,587.50
- C.
$1,887.50
- D.
$1,687.50
Correct Answer
D. $1,687.50Explanation
The correct answer is $1,687.50. To compute the total payment at the end of the year, we need to calculate the interest on the loan. The interest can be calculated by multiplying the principal amount ($1,500) by the interest rate (12.5%) and the time period (1 year).
Interest = Principal * Rate * Time
Interest = $1,500 * 0.125 * 1
Interest = $187.50
Adding the interest to the principal, we get the total payment at the end of the year:
Total Payment = Principal + Interest
Total Payment = $1,500 + $187.50
Total Payment = $1,687.50Rate this question:
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- 13.
Find the mode of 0,1,2,2,3,4,4,8,2.
- A.
2.5
- B.
4
- C.
3
- D.
2
Correct Answer
D. 2Explanation
The mode is the value that appears most frequently in a set of numbers. In this case, the number 2 appears three times, which is more than any other number in the set. Therefore, the mode of the given set of numbers is 2.Rate this question:
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- 14.
Determine the average of the 2,5,7,10.
- A.
5
- B.
6
- C.
10
- D.
7
Correct Answer
B. 6Explanation
The average of a set of numbers is found by adding up all the numbers and then dividing the sum by the total number of values. In this case, the sum of 2, 5, 7, and 10 is 24. Since there are 4 numbers in the set, we divide 24 by 4 to get an average of 6. Therefore, the correct answer is 6.Rate this question:
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- 15.
Round 4888.262 to the nearest hundredth.
- A.
488
- B.
488.26
- C.
500
- D.
4888.26
Correct Answer
D. 4888.26Explanation
To round a number to the nearest hundredth, we look at the digit in the thousandth place. If it is 5 or greater, we round up; if it is less than 5, we round down. In this case, the digit in the thousandth place is 2, which is less than 5. Therefore, we round down and the number remains 4888.26.Rate this question:
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- 16.
Multiply 4.2 x 2.2.
- A.
12
- B.
7.24
- C.
20
- D.
9.24
Correct Answer
D. 9.24Explanation
To find the product of 4.2 and 2.2, we multiply the two numbers together. When we multiply 4.2 by 2.2, we get 9.24.Rate this question:
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- 17.
Mary found an old piggy bank. 4 twenty dollar bills, 7 ones, and 90 pennies were in the piggy bank. How much currency did Mary have?
- A.
$89.00
- B.
$47.00
- C.
$87.90
- D.
$80.70
Correct Answer
C. $87.90Explanation
Mary had 4 twenty dollar bills, which is equal to $80. She also had 7 one-dollar bills, which is equal to $7. Additionally, she had 90 pennies, which is equal to $0.90. Adding all these amounts together, Mary had a total of $87.90.Rate this question:
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- 18.
Sue received a 30 percent discount on a blouse retailed for $79.00. What is the sale price of the blouse?
- A.
$5.30
- B.
$55.30
- C.
$59.99
- D.
$80.70
Correct Answer
B. $55.30Explanation
Sue received a 30 percent discount on a blouse that was originally priced at $79.00. To find the sale price, we need to subtract 30 percent of $79.00 from $79.00. 30 percent of $79.00 is $23.70. Subtracting $23.70 from $79.00 gives us $55.30, which is the sale price of the blouse.Rate this question:
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- 19.
Jake's printing gives its customers a series of chain discounts including 15 percent, 5 percent, and 5 percent. Calculate the net selling price on printing orders of $900.
- A.
$690.41
- B.
$6,600
- C.
$69.41
- D.
$6,006
Correct Answer
A. $690.41Explanation
To calculate the net selling price, we need to apply the chain discounts in sequence.
First, we apply a 15% discount on the original price of $900, which gives us $900 - (15% of $900) = $900 - $135 = $765.
Next, we apply a 5% discount on the discounted price of $765, which gives us $765 - (5% of $765) = $765 - $38.25 = $726.75.
Finally, we apply another 5% discount on the discounted price of $726.75, which gives us $726.75 - (5% of $726.75) = $726.75 - $36.34 = $690.41.
Therefore, the net selling price on printing orders of $900 is $690.41.Rate this question:
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- 20.
Bob received a 10 percent discount on a shirt retailed for $49.99. What is the sale price of the shirt?
- A.
$19.99
- B.
$29.99
- C.
$39.99
- D.
$44.99
Correct Answer
D. $44.99Explanation
The sale price of the shirt is $44.99. To find this, we need to subtract 10 percent of the original price ($49.99) from the original price. 10 percent of $49.99 is $4.99. Subtracting $4.99 from $49.99 gives us $45.00. Since the answer choices are rounded to the nearest cent, the sale price would be $44.99.Rate this question:
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- 21.
Divide 1/2 by 1/4.
- A.
6
- B.
2
- C.
8
- D.
4
Correct Answer
B. 2Explanation
Dividing 1/2 by 1/4 can be done by multiplying the numerator of the first fraction (1) with the denominator of the second fraction (4), and multiplying the denominator of the first fraction (2) with the numerator of the second fraction (1). This gives us (1*4)/(2*1) = 4/2 = 2. Therefore, the answer is 2.Rate this question:
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- 22.
Convert 14/7 to a whole number.
- A.
2
- B.
20
- C.
7
- D.
14
Correct Answer
A. 2Explanation
To convert 14/7 to a whole number, we divide the numerator (14) by the denominator (7). Since 14 divided by 7 equals 2, the whole number equivalent of 14/7 is 2.Rate this question:
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- 23.
Dawn made a $10,000 down payment on a home financed at 8 percent. What is the cost of the home?
- A.
$85,000
- B.
$125,000
- C.
$80,000
- D.
$8,000
Correct Answer
B. $125,000Explanation
In this scenario, Dawn made a $10,000 down payment on a home financed at 8 percent. The down payment is a portion of the total cost of the home. To find the cost of the home, we need to calculate the remaining amount that was financed. Since the down payment is $10,000, the financed amount is $125,000 ($10,000 divided by 0.08). Therefore, the cost of the home is $125,000.Rate this question:
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- 24.
Fourth of July decorations were marked down 20 percent. What is the cost of decorations thast orginally sold for $100.00.
- A.
$20.00
- B.
$8.00
- C.
$25.00
- D.
$80.00
Correct Answer
D. $80.00Explanation
The Fourth of July decorations were marked down by 20 percent, which means that the cost was reduced by 20 percent of the original price. If the original price was $100.00, then a 20 percent reduction would be $20.00. Subtracting $20.00 from the original price gives us $80.00, which is the final cost of the decorations after the discount. Therefore, the correct answer is $80.00.Rate this question:
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- 25.
The total sales of Max's Guitar Store were $40,000. Twenty percent comes from the sale of guitar supplies. What amount does Max's Guitar Store collect from the guitar supplies?
- A.
$80
- B.
$8,000
- C.
$8,500
- D.
$800
Correct Answer
B. $8,000Explanation
Twenty percent of the total sales of $40,000 is $8,000. This means that Max's Guitar Store collects $8,000 from the sale of guitar supplies.Rate this question:
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- 26.
Maggie's Coffee Shop makes $2000 in sales from Vanilla Mochas from the coffee sales of $4000. What percent of Vanilla Mochas are of Maggie's Coffee Shop total sales?
- A.
20 percent
- B.
25 percent
- C.
37 percent
- D.
50 percent
Correct Answer
D. 50 percentExplanation
The correct answer is 50 percent. This means that half of Maggie's Coffee Shop's total sales come from Vanilla Mochas.Rate this question:
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- 27.
The weighteed average for the data set. Scores 4 9 6 8 1 Number occurances 4 2 6 1 1
- A.
5.64.
- B.
2.54
- C.
5
- D.
12
Correct Answer
A. 5.64.Explanation
To calculate the weighted average for the given data set, you'll need to multiply each score by its corresponding number of occurrences, sum these products, and then divide by the total number of occurrences.
Here's the calculation:
(4 * 4 + 9 * 2 + 6 * 6 + 8 * 1 + 1 * 1) / (4 + 2 + 6 + 1 + 1)
Now, calculate the numerator and denominator:
Numerator: (4 * 4 + 9 * 2 + 6 * 6 + 8 * 1 + 1 * 1) = 16 + 18 + 36 + 8 + 1 = 79
Denominator: (4 + 2 + 6 + 1 + 1) = 14
Now, divide the numerator by the denominator to find the weighted average:
Weighted Average = 79 / 14 ≈ 5.64 (rounded to two decimal places)
So, the weighted average for the given data set is approximately 5.64.Rate this question:
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- 28.
Bob received a 10 percent discount on a shirt retailed for $49.99, how much was Bob's discount?
- A.
$20.00
- B.
$5.00
- C.
$39.99
- D.
$4.99
Correct Answer
D. $4.99Explanation
To calculate the amount of Bob's discount, you can multiply the original price of the shirt by the discount percentage (expressed as a decimal). In this case, the original price is $49.99, and the discount is 10 percent, which is equivalent to 0.10 as a decimal.
Discount = Original Price × Discount Percentage
Discount = $49.99 × 0.10
Discount = $4.99
So, Bob's discount on the $49.99 shirt was $4.99.Rate this question:
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- 29.
Subtract 1/4 from 12.
- A.
11
- B.
15
- C.
5
- D.
11 3/4
Correct Answer
D. 11 3/4Explanation
To subtract 1/4 from 12, we need to find the difference between 12 and 1/4. Since 12 can be written as 12/1, we can subtract 1/4 by finding a common denominator, which is 4. Multiplying 12/1 by 4/4 gives us 48/4. Subtracting 1/4 from 48/4 gives us 47/4, which can be written as the mixed number 11 3/4. Therefore, the correct answer is 11 3/4.Rate this question:
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- 30.
Convert 1/2 to a decimal.
- A.
.51
- B.
.50
- C.
.10
- D.
.20
Correct Answer
B. .50Explanation
To convert a fraction to a decimal, you divide the numerator (top number) by the denominator (bottom number). In this case, 1 divided by 2 equals 0.50. Therefore, the decimal representation of 1/2 is 0.50.Rate this question:
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Dec 15, 2023Quiz Edited by
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Dec 02, 2013Quiz Created by
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