Exam 3: Ratio, Proportion, and Percent
Exam 1: Review of Arithmetic103 Questions
Exam 2: Review of Basic Algebra193 Questions
Exam 3: Ratio, Proportion, and Percent152 Questions
Exam 4: Linear Systems81 Questions
Exam 5: Trade Discount, Cash Discount, Markup, and Markdown119 Questions
Exam 6: Break-Even and Cost-Volume-Profit Analysis24 Questions
Exam 7: Simple Interest95 Questions
Exam 8: Simple Interest Applications63 Questions
Exam 9: Compound Interest - Future Value and Present Value123 Questions
Exam 10: Compound Interest - Further Topics53 Questions
Exam 11: Ordinary Simple Annuities76 Questions
Exam 12: Ordinary General Annuities74 Questions
Exam 13: Annuities Due, Deferred Annuities, and Perpetuities132 Questions
Exam 14: Amortization of Loans, Including Residential Mortgages59 Questions
Exam 15: Bond Valuation and Sinking Funds81 Questions
Exam 16: Investment Decision Applications56 Questions
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Use Table 3.2 on page 128 of your textbook to convert C$900.00 to euros.
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(Essay)
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Correct Answer:
From the table, the exchange rate for Canadian dollars to euros is 0.7294.
Conversion = 900 × 0.7294 =C$656.46
Calculate the cost of a $11 000.00 machine after a decrease of 5% in price.
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(Essay)
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Correct Answer:
New value is 11 000.00 - 11 000.00(0.05) = $10 450.00
Using the Table 3.2 on page 128 of your text convert 3100 British pounds to Canadian dollars.
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(Multiple Choice)
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Correct Answer:
E
A boat owner listed his sailboat for 125% more than he paid for it. The owner eventually accepted an offer 5 1/2% below his asking price and sold the property for $50 000. How much did the owner pay for the sailboat?
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A private post-secondary corporation had a 1-year low stock price of $5.00 and a high of $7.50. Assuming that you bought it at the lowest price and sold it at its highest price, what is the simple annual rate of return on your stock purchase?
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A buyer bought merchandise for $2900. If he sells the merchandise at 66 2/3% above cost, how much gross profit does he make?
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Ms. Rose pays 37 1/2% of her monthly salary as rent on a townhouse. If the monthly rent is $750, what is her monthly salary?
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Four beneficiaries are to divide an estate of $289 000 in the ratio
:
:
:
. How much should each receive?




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A property was sold for 250% of what the vendors originally paid. If the vendors sold the property for $218 000, how much did they originally pay for the property?
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How many Canadian dollars can you buy for $850.00 U.S. if one Canadian dollar is worth $0.9641 U.S. dollars?
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A wholesale outlet is offered a discount of 2
% for payment in cash of an invoice of $950. If it accepted the offer, how much was the cash payment?

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The community of Oakville sets a property tax rate of $25.50 per $1000 assessed valuation. What is the assessment if a tax of $554 is paid on a property?
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Use the 2010 federal income tax brackets and rates listed below to answer the following question.
Taxable Income
(income tax brackets) Tax rates
$40 970 or less 5% of taxable income less than or equal to $40 970; plus
$40 970 to $81 94 22% of taxable income greater than $40 970 and less than or equal to $91 941; plus
$81 941 to $127 021 26% of taxable income greater than $81 941 and less than or equal to $127 021; plus
Over $127 021 29% of taxable income greater than $127 021
a) Sean had a taxable income of $42 500 in 2011. How much federal income tax should he report? (assuming tax rates remain the same)
b) Sean expects his taxable income to increase by 150% in 2012. How much federal tax would he expect to pay in 2012(assuming tax rates remain the same).
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A disc man originally advertised at $320.00 is reduced to $279.00 during a sale. By what percent was the price reduced?
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