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Business Mathematics Study Set 1
Exam 2: Review and Applications of Algebra
Path 4
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Question 21
Short Answer
If the denominator of a fraction decreases by 20% and the numerator remains unchanged, by what percentage does the value of the fraction change?
Question 22
Short Answer
How much is $102 after a decrease of 100%?
Question 23
Multiple Choice
Solve for x:
ā
(
1
2
x
ā
5
)
=
2
x
ā
10
-\left(\frac{1}{2} x-5\right) =2 x-10
ā
(
2
1
ā
x
ā
5
)
=
2
x
ā
10
Question 24
Short Answer
Evaluate and calculate to the cent: P(1 + rt) for P = $770, r = 0.013,
t
=
223
365
t=\frac{223}{365}
t
=
365
223
ā
Question 25
Short Answer
A web site had 2/7 more hits last month than in the same month of the preceding year. If there were 2655 hits last month, how many were there 1 year earlier?
Question 26
Short Answer
Evaluate and calculate to the cent:
I
r
t
\frac{I}{r t}
r
t
I
ā
for r = 0.095, I = $23.21,
t
=
283
365
t=\frac{283}{365}
t
=
365
283
ā
Question 27
Multiple Choice
Susan is paid a 15% commission of her sales. If she earns a commission of $3800, what was the amount of her sales?
Question 28
Multiple Choice
Calculate the final result to two decimal places, where z = .1515
z
4
+
z
4
+
7
9
ā
.
25
z
2
+
2
3
\frac{z}{4}+z^{4}+\frac{7}{9}-.25 z^{2}+\frac{2}{3}
4
z
ā
+
z
4
+
9
7
ā
ā
.25
z
2
+
3
2
ā
Question 29
Short Answer
The retail price of All Natural Granola dropped from $7.98 to $7.29 when the package size was reduced from 700 g to 600 g. What was the percent change in the unit price?
Question 30
Short Answer
Sales have increased by 10% over last year. What percentage less was last year's sales than this year's sales?
Question 31
Multiple Choice
Bart purchased three-quarters of a 32% interest in a Swiss Chalet franchise for $270,000. What is implied value of the franchise?
Question 32
Short Answer
Mr. Parker structured his will so that each of his four children will receive half as much from the proceeds of his estate as his wife, and each of 13 grandchildren will receive one-third as much as each child. After his death, $759,000 remains after expenses and taxes for distribution among his heirs. How much will each child and grandchild receive?
Question 33
Short Answer
Simplify and collect like terms:
8
x
0.5
+
5.5
x
11
+
0.5
(
4.6
x
ā
17
)
\frac{8 x}{0.5}+\frac{5.5 x}{11}+0.5(4.6 x-17)
0.5
8
x
ā
+
11
5.5
x
ā
+
0.5
(
4.6
x
ā
17
)
Question 34
Short Answer
The Markham Real Estate Board reports that the average selling price of homes last month in the Markham area was $338,500, an increase of 8.7% over the past year. Rounded to the nearest $100, what was the average selling price one year ago?
Question 35
Multiple Choice
Simplify the following: y
8
/ y
5
Question 36
Short Answer
Evaluate to six-figure accuracy: (1.0075)
24
Question 37
Multiple Choice
How much is 600 increased by 44%?
Question 38
Multiple Choice
Calculate the final result to two decimal places, where f = $8.25
f
(
1
+
.
067
)
3
ā
4
f
(
1
ā
.
067
)
4
\frac{f}{(1+.067) ^{3}}-4 f(1-.067) ^{4}
(
1
+
.067
)
3
f
ā
ā
4
f
(
1
ā
.067
)
4
Question 39
Short Answer
David's portfolio consists of bonds and equity. The bond market rose by 2.5%, while the equity market dropped by 10.5%. David's portfolio increased by 1.25%. What portion of bonds and equity did he have in his portfolio?