Exam 1: Review and Applications of Basic Mathematics

Evaluate the following : -

Calculate 0.54% of $200.

A province's progressive income tax rates are structured as follows: 16% tax on the first $15,000 of taxable income, 26% on the next $20,000, 35% on the next $40,000, and 45% on any additional taxable income. What percentage is an individual's total income tax of his (taxable) income if his taxable income for a year is: a) $33,000? b) $66,000? c) $99,000?

Evaluate the following:

Sonal bought a new sound system for her car costing $604.79. Sonal lives in Calgary, and so the price included 5% GST. What was the selling price of the new sound system?

What is his gross salary per pay period?

How much more will a consumer pay for an item listed at $1000 (pretax) in Prince Edward Island than in Manitoba?

A homeowner's tax statement lists the following mill rates for various municipal services: What is the property tax on a house assessed at $300,000?

M Studios (Ontario) had retail sales of $288,528.55, including PST and GST, for the last quarter. In the same period M Studios purchased $250,000 worth of supplies and paid the GST on these goods. What GST must be remitted by M Studios (or refunded) for the last quarter? (Assume 8% PST and 5% GST).

Evaluate the answer correct to the cent: -

Calculate the PST on a jacket costing $89.50 in British Columbia, Manitoba, and Saskatchewan.

Evaluate 18 / 3 + 8 - 4 × 2 - 3 =

The following mixed number has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

Evaluate the following: -

Marcel must temporarily invest extra money in his retail business every fall to purchase additional inventory for the Christmas season. On September 1 he already had a total of $57,000 invested in his business. Subsequently, he invested or withdrew cash on various dates as shown in the following table. What was the average cumulative investment in the business during the period from September 1 to August 31? (Assume that each month has the same length.)

Evaluate the following : -

What percent is 88′ of $44? Calculate to three-figure accuracy.

0.0505% of $50,000 is what amount? Calculate to three-figure accuracy.

A restaurant owner set her menu prices at a predetermined percentage of her input costs for food, ingredients, and beverages. The prices as a percentage of these costs for various menu categories are presented in the second column of the table. The third column presents the breakdown of the restaurant's overall revenue from the four men categories. On average, what are menu prices as a percentage of the basic input costs? Overall, what are the input costs as a percentage of revenue?

Mrs. Sandhu invested $10,000 at 5%, $15,000 at 4%, and $20,000 at 3%. Calculate Mrs. Sandhu's overall rate of return.