Contemporary Business Mathematics with Canadian Applications 12th edition by S A. Hummelbrunner test
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
1) Simplify: (28 - 4)/3
Answer: (28 - 4)/3 = 24/3 = 8
2) Simplify: 8 + 6 ? 2
Answer: 8 + 12 = 20
3) Simplify: 5(4 + 3)
Answer: 5 ? 7 = 35
4) Simplify:
20 - 15
15 + 5
Answer: 5/20 = .25
5) Simplify:
50 - 10
12 + 8
Answer: 40/20 = 2
6) Simplify: 9(8 - 5) + 5(6 + 4)
Answer: 9 ? 3 + 5 ? 10 = 27 + 50 = 77
7) Evaluate:
268
4400 ? 156/366
Answer: 268/(4400 ? .4262295) = 268/1875.4098 = .1429021
8) Evaluate and round to 3 decimal places: 125(6 + 0.35 ? 142/678)
Answer: 125 ? (6 + 0.35 ? 0.2094395) = 125 ? (6 + 0.0733038) = 125 ? (6.0733038) = 759.163
9) Evaluate: 400(1 + .10 ? 100/365)
Answer: 400 ? (1 + .10 ? .2739726) = 400 ? (1 + .02739726) = 400 ? (1.02739726) = 410.959
10) Evaluate and round to one decimal place: 9210(5 - 1.38 ? 169/420)
Answer: 9210 ? (5 - 1.38 ? 0.40238095) = 9210 ? (5 - 0.5552857) = 9210(4.444714) = 40,935.8
11) Evaluate:
2424
1 + .2 ? 166/365
Answer: 2424/(1 + .2 ? .4547945) = 2424/(1 + .0909589) = 2424/1.0909589 = 2221.899
12) Evaluate and round to three decimal places:
3140
2 + 0.035 ×
155
730
Answer: 3140/(2 + 0.35 * 0.2123288) = 3140/(2 + 0.0743151) = 2910/2.074315068 = 1513.753
13) Evaluate:
5000
1 + .1 ? 183/366
Answer: 5000/(1 + .1 ? .5) = 5000/(1 + 0.05 ) = 5000/1.05 = 4761.90
14) Spade Realty sold lots for $23 240 per hectare. What is the total sales value if the lot sizes, in hectares,
were 2
1
2
, 3 1
4
, 4 1
5
?
Answer: 23240 ? (
1
2
+ 3
1
4
+ 4
1
5
)
= 23240 ? (2 10/20 + 3 5/20 + 4 4/20)
= 23240 ? (9 19/20) = 23240 ? 9.95
= $231238
15) Three mechanics worked 15 1
2
, 14
3
4
, 18
1
8
hours respectively. What was the total cost of labour if the mechanics
were paid $14.75 per hour?
Answer: Total Hours
= 15 1
2
+ 14 3
4
+ 18
1
8
= 15.5 + 14.75 + 18.125
= 48.375
Total cost of labor = 48.375 ? 14.75 = $713.53
16) Ana, Aamir and Charlotte worked 11
3
4
, 14
13
20
, and 22 4
5
hours respectively. What was the total cost of labour if
they were paid $18.00 per hour?
Answer: Total Hours
= 11 3
4
+ 14 13
20
+ 22 4
5
= 11.75 + 14.65 + 22.80
= 49.20
Total cost of labor = 49.20 ? 18.00 = $885.60
17) A retailer returned 300 defective items to the manufacturer and received a credit for the retail price of $0.75 less
a discount of 1/3 of the retail price. What was the amount of the credit received by the retailer?
Answer: Retail value = 300($0.75) = $225
Credit = (1- 1/3 )? $225 = (2/3) ? $225 = $150
18) Complete the following inventory sheet and find the total value.
Item Quantity Cost per Unit Total
1 69 $.85
2 111 16 2/3 cents
3 155 $2.75
4 350 $1.66
Answer: 1161616161669 × 0.85 = $58.65
111 × 0.16 2/3 = 330 × 0.1666667 = 18.50
155 × 2.75 = 426.25
350 × 1.66 = 581.00
$1084.40
19) Extend each of the following and determine the total.
Quantity Unit Price
48 $2.45
48 $0.83 1
8
16 $2.12
60 $1.33 1
6
Answer: Quantity Unit Price Value
48 $2.45 $117.60
48 0.83 1/8 39.90
16 2.12 33.92
60 1.33 1/6 79.90
Total: $271.32
20) Purchases of packs of printing paper during the last accounting period were as follows:
Number of items Unit price
8 $13.00
4 $12.00
15 $10.00
10 $10.50
What was the weighted average price per item?
Answer: Number of items Unit price Weighted value
8 × $13.00 = 104.00
4 × $12.00 = 48.00
15 × $10.00 = 150.00
10 × $10.50 = 105.00
Total: 37 407.00
Average price was 407/37 = $11.00
21) Purchases of an inventory item during last month were as follows:
Number of items Unit price
5 $5.00
10 $8.00
8 $6.00
15 $3.00
What was the weighted average price per item?
Answer: Number of items Unit price Weighted value
5 × $5.00 = 25.00
10 × 8.00 = 80.00
8 × 6.00 = 48.00
15 × 3.00 = 45.00
Total: 38 198.00
Average price was 198/38 = $5.21
22) Noriko's final mark for her Financial Mathematics course was based on four tests with different weightings.
Test one counted for 10% of the final grade, test two for 20%, test three for 30% and test four for 40%. If Clara
received 70% on test one, 85% on test two, 64% on test three and 72% on test four, calculate her final mark.
Answer: = 70(0.1) + 85(0.2) + 64(0.3) + 72(0.4)
= 7 + 17 + 19.2 + 28.8
1) Simplify: (28 - 4)/3
Answer: (28 - 4)/3 = 24/3 = 8
2) Simplify: 8 + 6 ? 2
Answer: 8 + 12 = 20
3) Simplify: 5(4 + 3)
Answer: 5 ? 7 = 35
4) Simplify:
20 - 15
15 + 5
Answer: 5/20 = .25
5) Simplify:
50 - 10
12 + 8
Answer: 40/20 = 2
6) Simplify: 9(8 - 5) + 5(6 + 4)
Answer: 9 ? 3 + 5 ? 10 = 27 + 50 = 77
7) Evaluate:
268
4400 ? 156/366
Answer: 268/(4400 ? .4262295) = 268/1875.4098 = .1429021
8) Evaluate and round to 3 decimal places: 125(6 + 0.35 ? 142/678)
Answer: 125 ? (6 + 0.35 ? 0.2094395) = 125 ? (6 + 0.0733038) = 125 ? (6.0733038) = 759.163
9) Evaluate: 400(1 + .10 ? 100/365)
Answer: 400 ? (1 + .10 ? .2739726) = 400 ? (1 + .02739726) = 400 ? (1.02739726) = 410.959
10) Evaluate and round to one decimal place: 9210(5 - 1.38 ? 169/420)
Answer: 9210 ? (5 - 1.38 ? 0.40238095) = 9210 ? (5 - 0.5552857) = 9210(4.444714) = 40,935.8
11) Evaluate:
2424
1 + .2 ? 166/365
Answer: 2424/(1 + .2 ? .4547945) = 2424/(1 + .0909589) = 2424/1.0909589 = 2221.899
12) Evaluate and round to three decimal places:
3140
2 + 0.035 ×
155
730
Answer: 3140/(2 + 0.35 * 0.2123288) = 3140/(2 + 0.0743151) = 2910/2.074315068 = 1513.753
13) Evaluate:
5000
1 + .1 ? 183/366
Answer: 5000/(1 + .1 ? .5) = 5000/(1 + 0.05 ) = 5000/1.05 = 4761.90
14) Spade Realty sold lots for $23 240 per hectare. What is the total sales value if the lot sizes, in hectares,
were 2
1
2
, 3 1
4
, 4 1
5
?
Answer: 23240 ? (
1
2
+ 3
1
4
+ 4
1
5
)
= 23240 ? (2 10/20 + 3 5/20 + 4 4/20)
= 23240 ? (9 19/20) = 23240 ? 9.95
= $231238
15) Three mechanics worked 15 1
2
, 14
3
4
, 18
1
8
hours respectively. What was the total cost of labour if the mechanics
were paid $14.75 per hour?
Answer: Total Hours
= 15 1
2
+ 14 3
4
+ 18
1
8
= 15.5 + 14.75 + 18.125
= 48.375
Total cost of labor = 48.375 ? 14.75 = $713.53
16) Ana, Aamir and Charlotte worked 11
3
4
, 14
13
20
, and 22 4
5
hours respectively. What was the total cost of labour if
they were paid $18.00 per hour?
Answer: Total Hours
= 11 3
4
+ 14 13
20
+ 22 4
5
= 11.75 + 14.65 + 22.80
= 49.20
Total cost of labor = 49.20 ? 18.00 = $885.60
17) A retailer returned 300 defective items to the manufacturer and received a credit for the retail price of $0.75 less
a discount of 1/3 of the retail price. What was the amount of the credit received by the retailer?
Answer: Retail value = 300($0.75) = $225
Credit = (1- 1/3 )? $225 = (2/3) ? $225 = $150
18) Complete the following inventory sheet and find the total value.
Item Quantity Cost per Unit Total
1 69 $.85
2 111 16 2/3 cents
3 155 $2.75
4 350 $1.66
Answer: 1161616161669 × 0.85 = $58.65
111 × 0.16 2/3 = 330 × 0.1666667 = 18.50
155 × 2.75 = 426.25
350 × 1.66 = 581.00
$1084.40
19) Extend each of the following and determine the total.
Quantity Unit Price
48 $2.45
48 $0.83 1
8
16 $2.12
60 $1.33 1
6
Answer: Quantity Unit Price Value
48 $2.45 $117.60
48 0.83 1/8 39.90
16 2.12 33.92
60 1.33 1/6 79.90
Total: $271.32
20) Purchases of packs of printing paper during the last accounting period were as follows:
Number of items Unit price
8 $13.00
4 $12.00
15 $10.00
10 $10.50
What was the weighted average price per item?
Answer: Number of items Unit price Weighted value
8 × $13.00 = 104.00
4 × $12.00 = 48.00
15 × $10.00 = 150.00
10 × $10.50 = 105.00
Total: 37 407.00
Average price was 407/37 = $11.00
21) Purchases of an inventory item during last month were as follows:
Number of items Unit price
5 $5.00
10 $8.00
8 $6.00
15 $3.00
What was the weighted average price per item?
Answer: Number of items Unit price Weighted value
5 × $5.00 = 25.00
10 × 8.00 = 80.00
8 × 6.00 = 48.00
15 × 3.00 = 45.00
Total: 38 198.00
Average price was 198/38 = $5.21
22) Noriko's final mark for her Financial Mathematics course was based on four tests with different weightings.
Test one counted for 10% of the final grade, test two for 20%, test three for 30% and test four for 40%. If Clara
received 70% on test one, 85% on test two, 64% on test three and 72% on test four, calculate her final mark.
Answer: = 70(0.1) + 85(0.2) + 64(0.3) + 72(0.4)
= 7 + 17 + 19.2 + 28.8