RegionalsBusiness Calculations

1. David worked 35 hours and received $3.50 per hour. What was his weekly
wage?
a. $220.00
b. $122.50
c. $192.50
d. $19.25
2. Cathy worked 45 hours and received $6.50 per hour regular pay. She
received time-and-a-half for all hours over 40 hours. What were her weekly
earnings?
a. $308.75
b. $292.50
c. $269.75
d. $260
3. Samir worked 30 hours at $2.90 per hour. He made the following tips: $15,
$18, $22, $20, $16. How much did he average for the week?
a. $3.51
b. $102.50
c. $5.93
d. $5.89
4. Eleanor earns $24,000 annually. What is the amount of each paycheck if she
is paid biweekly?
a. $2,000.00
b. $924.31
c. $1,020.83
d. $923.08
5. Kevin is paid $685.42 semimonthly. What is his annual salary?
a. $16,450.08 b. $15,450.08 c. $17,820.12 d. $8,225.04
6. Kate receives 7.5% commission on all her sales. One month she sold
$12,500 worth of goods. How much was her commission for the month?
a. 93.75
b. $4,375
c. $937.50
d. $712.50
7. Sheri earned $29,650 and paid FICA tax of 7.65%. How much FICA tax did
she pay?
a. $2,268.23
b. $$22.68
c. $226.82
d. $4,453.43
8. Anne earns $29,750 and has $6495 withheld for taxes and $1,500 withheld for
personal deductions. If she is paid semimonthly, what is the net pay of each
paycheck?
a. $906.46
b. $1812.92
c. $836.73
d. $418.37
9. Jennifer is a self-employed decorator. She averages a monthly income of
$2,875. If the FICA rate is 15.02%, how much FICA tax must she pay each
year?
a. $5,181.90
b. $215.91
c. $431.83
d. $2,639.25
10. Carolyns beginning balance in her checkbook was $350.50. She made
deposits of $275, wrote checks for $189.72, and had to pay a bank charge
of $2.75. What was her ending balance for the month?
a. $812.47
b. $438.53
c. $262.47
d. $433.03

11. Serge borrowed $1,575 and made 18 payments of $105.25. How much did
he pay in interest?
a. $319.50
b. $3,469.50
c. $1,575
d. $1,894.50
12. Maria borrowed $1,250 for 2 months at an annual rate of 7.5% under a
single-payment plan. How much interest must she pay?
a. $93.75
b. $15.63
c. $1,265.63
d. $187.50
13. Trevor deposited $1,150 in a savings account that paid 6.5% interest,
compounded quarterly. What was his balance at the end of the second
quarter after the interest had been paid?
a. $74.75
b. $1,224.75
c. $1,168.69
d. $1,162.46
14. Trina borrowed $600 at 9% for 12 months under a monthly installment plan.
She must pay $8.7453 per $100 each month for 12 months. How much is
her monthly installment payment?
a. $654
b. $629.64
c. $52.47
d. $54.50
15. Jack has an outstanding balance of $423.81 on his bank card. Find the
finance charge for the month if it is calculated at 1.5%.
a. $63.57
b. $6.36
c. $ .64
d. $6.35
16. Julian bought a new car with a sticker price of $9,760. If he paid 5% sales
tax, traded in his old car for $1,700, and made a 15% down payment,
calculate the total amount of the purchase price he financed.
a. $8,548
b. $7,265.80
c. $1,282.20
d. $7,482
17. Alvin financed $4,250 to buy a new car. If he made 36 payments of $138.50
each, how much interest did he pay on the loan?
a. $4,986
b. $4,270.44
c. $20.44
d. $736
18. Steve bought a stereo that listed for $995. He saved 15% of the original cost
by buying it at a sale and paying cash. How much did he pay for the
stereo?
a. $1,009.93
b. $149.24
c. $845.75
d. $84.58
19. Kelli makes two payments a year of $450 each for real estate taxes. She
makes 4 payments a year of $225 for auto insurance. How much must she
budget monthly for these two items?
a. $150
b. $56.25
c. $93.75
d. $112.50
20. Molly made a long-distance call that cost her $1.45 for the first 3 minutes
and $.35 for each extra minute. If she talked 12 minutes, how much did the
call cost her?
a. $4.20
b. $5.65
c. $1.80
d. $4.60

21. Greg signed a 2-year lease for an apartment. If his monthly rent is $325,
how much will he pay in rent over the term of his lease?
a. $3,900
b. $650
c. $7,800
d. $780
22. Bobs gross income is $19,500. His medical expenses for the year
amounted to $746.50. If he can deduct only the amount over 7 % of his
gross income for medical expenses, how much can he deduct for his
medical expenses?
a. $746.50
b. $1,462.50
c. $0
d. $716
23. Matilda bought 200 shares of stock at 35 . She had to pay a 1%
commission to her broker. What was the total price of the stock?
a. $7,171
b. $7,100
c. $717
d. $71
24. Rita purchased a phone on sale for $23.40. The regular price was $39.
What was the markdown rate?
a. 40%
b. 45%
c. 35%
d. 30%
25. The regular price on a lamp is $49.99. If it is marked down 18%, what is the
new sales price?
a. $40.99
b. $41.20
c. $39.80
d. $41.99
26. Dave located a $22.99 backpack on sale for 25% off. If there was a 5%
sales tax added to the purchase price, what was his total purchase price?
a. $18.10
b. $24.14
c. $30.12
d. $20.14
27. Mallory found board games on sale for $7.99 each. The regular price was
$9.95. She could save even more money by buying 3 games for $22. If
she bought three, what would her savings be?
a. $7.85
b. $7.99
c. $6.85
d. $5.85
28. A 64 ounce bottle of juice sells for $1.59. What is the unit price?
a. $.25
b. $.40
c. $.035
d. $.025
Use the numbers in the following sample to answer questions 29 32.
An opinion poll showed family incomes as follows:
$14,000
$28,000
$19,000 $16,000
$21,000
$19,000
$29,000 $20,000

$74,000
$19,000

29. Find the mean.

a. $25,900

b. $28,000

c. $19,000

d. $21,000

30. Find the median.

a. $25,900
b. $28,000

c. $19,500

d. $21,000

31. Find the mode.

a. $25,900

b. $28,000

c. $19,000

d. $21,000

32. Which of the values would give the best representation of the sample?
a. mean
b. median
c. mode
d. memory
33. Find the markup percent if the cost is $28 and the selling price is $42.
a. 26%
b. 33%
c. 50%
d. 67%
34. Find the cost of an item if its selling price is $59.97 and it has a 45% markup.
a. $32.98
b. $35.49
c. $39.28
d. $38.29
35. Find the amount that the Cracker Barrel will send to Sysco Foods if an
invoice totals $325 dated on June 2 with terms are 2/10, n/30. Cracker
Barrel will pay the invoice on June 12.
a. $6.50
b. $318.50
c. $331.50
d. $325
36. The Jones Electronics Company pays a bonus for all pieces over a standard
minimum set for the job. If Kays piece rate is $.20 with a bonus rate of
$.10 for each piece over 200, what will her daily earnings be if she produced
250 units today?
a. $55
b. $50
c. $65
d. $75
37. Determine the worth of an investment of $4,260 if it has declined 16%
a. $1681.60
b. $2,710
c. $3,578.40
d. $2,333.20
38. An invoice listed a cash discount of 3%. If the discount was $63, what was
the amount of the invoice before the discount?
a. $2,100
b. $2,050
c. $2,200
d. $2,037
39. Jerry received a $1,200 pay raise which was 8% of his previous salary.
What was his previous salary?
a. $96,000
b. $12,000
c. $9,600
d. $15,000
40. Don deposited the following into his checking account: four $50 bills, seven
$20 bills, eight $5 bills, 18 quarters, 36 dimes, 47 nickels, and 16 pennies.
What is his total deposit?
a. $192
b. $390
c. $497
d. $390.61
41. What is the cost per pound of a 25 pound bag of oranges with a retail price
of $13.75?
a. $.55
b. $.055
c. $.038
d. $.38

42. An appliance dealer sold 9 more DVD players than VCRs. DVD players sell
for $480 and VCRs sell for $350. If the total dollar sales were $21,750,
what was the dollar value of the VCRs?
a. $7,050
b. $7,350
c. $10,800
d. none of the above
43. A refrigerator was marked up $95. The markup rate was 25% on cost. What
was the original cost of the refrigerator?
a. $2,500
b. $380
c. $750
d. $480
44. Sallys deductible clause in her health insurance plan requires her to pay
$200 in a given year. The insurance company will pay 80% of the remaining
cost. Sally was hospitalized and her stay cost $7,650. How much did Sally
have to pay in all?
a. $1690
b. $1490
c. $1,524
d. not enough information
45. The premium for Larrys health insurance is $1,250 per year. If his employer
pays 80% of the premium, how much is deducted each week from Larrys
paycheck to cover his share? Larry is paid biweekly.
a. $4.81
b. $9.62
c. $2.40
d. $6.81
46. An air conditioner uses 1,200 watts of electricity per hour. How much will it
cost to run it for 4 hours if the unit cost of electricity is $.061 per kilowatthour?
a. $.50
b. $.40
c. $.29
d. $.35
47. Determine the cost of a taxi trip of 10 1/3 miles if the fare is $1.10 for the first
1/6 mile and $.20 for each additional 1/6 mile (or fraction).
a. $12.40
b. $13.30
c. $13
d. $12.20
48. Maureen is flying from Salt Lake City to New York, a distance of 1,972 miles.
Her one-way coach fare is $231. Compute the cost per mile of her flight.
a. $8.54
b. $.23
c. $2.50
d. $.12
49. Mark fixed a packaged macaroni and cheese dinner and ate half of it. The
nutrition label on the box indicated that the box contained 4 servings and
each serving had 290 calories. How many calories did Mark consume?
a. 145
b. 580
c. 1160
d. 1000
50. Luis budgeted $750 per year for eating out. If he estimated that each meal
would cost $6, how often can he eat out?
a. 100 times
b. 75 times
c. 125 times
d. 150 times

51. Jane ordered two sweaters from a direct-mail catalog. One sweater costs
$29.95; the other cost $37.25. The sales tax on the purchase is 8 percent.
What is the price Jane paid?
a. $.53
c. $53.76
b. $5.38
d. $5.73
52. What is the correct way to write the number 3,756,491?
a. three million seven hundred fifty-six thousand four hundred ninety one
b. three million, seven hundred fifty-six thousand, four hundred and ninety
one
c. three million, seven hundred fifty-six thousand, four hundred ninety one
d. thirty seven thousand million, fifty-six thousand, four hundred ninety-one
53. Elizabeth is an advertising salesperson for a local newspaper. She earns a
12 percent commission on her sales. Last month, she sold $14,982 in
advertising. What was her commission?
a. $1,797.84
c. $1,791.36
b. $179.78
d. $180.00
54. Morgan works in a marketing department of a publishing company. In a
meeting with his supervisors, Morgan wants to demonstrate that a
marketing campaign he designed has resulted in increased sales over the
last four months. What type of graphic illustration should Morgan use to
illustrate his campaigns success?
a. circle graph
c. four-color word graph
b. bar graph
d. line graph
55. Robin loves music. On a recent trip to the music store, she bought two CDs
for $9.19 each, three CDs for $3.99 each, and one double CD set for
$17.65. What was her total bill (not including taxes)?
a. $30.83
c. $38.81
b. $48.00
d. $65.00
56. How can you, as a salesperson, best avoid disagreements with a customer
about the amount of money the customer gave you as payment?
a. By announcing the total amount of the sale
b. By placing the money on the cash drawer ledge
c. By counting aloud when you give the customer change
d. By announcing the amount tendered

57. What should you do when a customer interrupts you with a question while
you are making change?
a. ignore the interruption
b. answer quickly
c. write down the amount you have already counted
d. close the cash drawer and answer
58. What is a typical cash drawer arrangement?
a. Coins in front, bills in the back, largest denominations on right
b. Bills in back with empty compartment on right, coins in front
c. Coins in front, bills in back, $2 placed under $1 bills
d. Coins in back, bills in front, largest denominations on left
59. Shauna needed to stock up on office supplies. She bought three packages
of multi-colored file folders at $4.25 per package, six boxes of felt-tip
markers at $3.68 per box, and two staplers at $6.19 apiece. Assuming a tax
rate of 6%, what was the total cost of Shaunas purchase?
a. $50.04
c. $51.04
b. $47.21
d. $49.84
60. What is the name of a legal contract between a buyer and a supplier that
lists the characteristics, price, and shipping instructions of the items the
supplier will provide?
a. Invoice
c. merchandise plan
b. Term-of-sale
d. purchase order
61. Petite Boutique buys its blouses from Too Sweet blouse manufacturers. Too
Sweet offers a 12 percent discount on orders of $3,000 or more, Petite
Boutique ordered $4,200 worth of merchandise and insisted on terms of
4/10 net 30. If the store takes advantage of both discounts, what will be the
net amount of the invoice?
a. $3,696
c. $4,052.16
b. $3,548.16
d. $3,528
62. Richard bought bath towels for his new apartment. The original price for the
towels was $21.95 each, but they had been marked down by 33 percent.
What was the total cost to Richard, excluding tax, for four towels?
a. $87.80
c. $58.83
b. $73.09
d. $51.23
63. A tape recorder that cost Plugged In Electronics store $18 and that originally
sold for $42 is marked down 25 percent. What is the maintained markup in
dollars for the recorder?
a. $31.50
c. $12.28
b. $13.50
d. $29.92

64. What is the first step in the procedure for determining an items retail price
when you know the items cost and the customary markup on retail?
a. Divide the cost by the decimal equivalent of the cost percentage of the
retail policy
b. Multiply the retail price by the percentage of the retail price
c. Calculate the dollar markup
d. Determine what percentage of the retail price is equal to cost
65. Determine the maintained markup percentage for a refrigerator that costs a
retailer $365 to stock and that sells for $690; the store wants to mark down
the refrigerator 30 percent.
a. 24 percent
c. 12 percent
b. 28 percent
d. 18 percent

Answers
RegionalsBusiness Calculations

#104

1. B

23. A

45. A

2. A

24. A

46. C

3. C

25. A

47. B

4. D

26. A

48. A

5. A

27. A

49. B

6. C

28. D

50. C

7. A

29. A

51. B

8. A

30. C

52. C

9. A

31. C

53. A

10. D

32. B

54. D

11. A

33. C

55. B

12. B

34. A

56. B

13. D

35. B

57. A

14. C

36. A

58. C

15. B

37. C

59. A

16. B

38. A

60. D

17. D

39. D

61. B

18. C

40. D

62. C

19. A

41. A

63. B

20. D

42. B

64. D

21. C

43. B

65. A

22. D

44. A