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Interest, Percent Markup/down, Net Pay, Gross Earnings/Profit, Tax, Mean and Median

Diana Huntington owns municipal bonds valued at $14,500, which is 12% of her total investments. What is the value of her total investments? Round to the nearest dollar.

(A) $174,000

(B) $1,208

(C) $120,833

(D) $1,740

12 invitations were sent to Mary's friends. Four were sent back with RSVPs for two people each. Five had RSVPs for one each. Two were sent back as declining to come and one had an RSVP for four people. How many guests did Mary have to prepare for?

(A) 12

(B) 16

(C) 17

(D) 18

A store manager paid $100 for an item and set the selling price at $121.00. What was the percent markup?

(A) 17%

(B) 21%

(C) 19%

(D) 20%

Ray's gross pay is $323.55 a week. $46 is withheld for federal income tax, $24.30 for FICA tax, and $11.32 for other deductions. Find his net pay.

(A) $405.17

(B) $231.93

(C) $81.62

(D) $241.93

A nail 5 1/2 inches long is driven into a board 1 4/5 inches thick. How much of the nail protrudes from the other side of the board?

(A) 3 7/10 in.

(B) 2/7 in.

(C) 5 2/7 in.

(D) 1/5 in.

Write 0.002 as a fraction in lowest terms

(A) 1/500

(B) 1/250

(C) 1/50

(D) 1/1000

Write 300% as a decimal.

(A) 3.01

(B) 3

(C) 30

(D) 0.3

Reconcile the bank statement with the check register balance. Find the current balance.
Statement Balance $1216.42
Outstanding deposits $ 399.84 $130.61 $227.07
Outstanding checks $ 133.93 $191.85 $231.86 $283.38
Service charge $8.10
Interest credit $4.71
Checkbook Balance $1136.31
Current Balance $???????????

(A) $1,160.11

(B) $1,132.92

(C) $1,213.03

(D) $1,136.31

Allied Industries pays at the time-and-a-half rate for all time worked over 8 hours in any one day no matter how many hours are worked in a week. Ken Warner, an employee of Allied Industries, makes $12.30 an hour as his regular rate of pay. Last week he worked 13 hours on Monday, 5.5 hours on Thursday, and 8.75 hours on Friday. What were his gross earnings for the week?

(A) $379.25

(B) $370.54

(C) $335.52

(D) $384.09

One of Sal's customers ordered items costing $8.97, $12.42, $17.64, and $21.10. If Sal's commission on each item is 30%, what is his total commission on this sale? Round to the nearest cent.

(A) $11.71

(B) $18.04

(C) $12.75

(D) $15.35

Anita Tooms bought a new computer system. To pay for the system, she borrowed $2670 from the credit union at 7 1/3% interest for 85 days. Find the ordinary interest owed.

(A) $46.23

(B) $195.80

(C) $45.69

(D) $45.60

Find the amount of sales tax or excise tax. Sales: $148, Excise tax rate: 18%

(A) $25.16

(B) $26.64

(C) $28.12

(D) $266.40

Find the amount of the sale before sales tax was added. Total sale: $81.79, Tax rate: 5%

(A) $54.52

(B) $77.15

(C) $77.89

(D) $78.63

A manufacturer had net sales of $681,500 last year. The cost of goods sold was $400,300. Find the Gross profit.

(A) $346,500

(B) $158,900

(C) $260,700

(D) $281,200

A manufacturer had net sales of $759,500 last year. The cost of goods sold was $498,300, and the operating expenses were $101,800. Find the Net Income before taxes

(A) $159,400

(B) $158,900

(C) $260,700

(D) $261,200

Find the mean for the set of numbers: 14, 16, 18, 2, 18, 10, 10, 8.

(A) 13.71

(B) 12

(C) 22

(D) 11

Find the median: 47, 25, 8, 4, 21, 16, 27, 35, 37, 37.

(A) 27

(B) 21

(C) 26

(D) 24

A country club wants to provide seating for 154 people in its banquet room. If the club has 13 tables that seat 6 people, how many tables does it need that seat 4 people?

(A) 21 tables

(B) 18 tables

(C) 19 tables

(D) 20 tables

One of Sal's customers ordered items costing $150, $70, $170, and $300. If Sal's commission on each item is 30%, what is his total commission on this sale? Round to the nearest cent.

(A) $207

(B) $35

(C) $195

(D) $200

A computer originally sold for $480 and was marked down to sell for $420. Find the markdown rate.

(A) 12.5%

(B) 12%

(C) 13%

(D) 14%

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Diana Huntington owns municipal bonds valued at $14,500, which is 12% of her total investments. What is the value of her total investments? Round to the nearest dollar.
(A) $174,000
(B) $1,208
(C) $120,833 Total investments = $14,500/ 12%= $120,833
(D) $1,740

12 invitations were sent to Mary's friends. Four were sent back with RSVPs for two people each. Five had RSVPs for one each. Two were sent back as declining to come and one had an RSVP for four people. How many guests did Mary have to prepare for?
(A) 12
(B) 16
(C) 17 = 4*2+5*1+2*0+1*4
(D) 18

A store manager paid $100 for an item and set the selling price at $121.00. What was the percent markup?
(A) 17%
(B) 21% = sale price / cost - 1 = 121/100 - 1
(C) 19%
(D) 20%

Ray's gross pay is $323.55 a week. $46 is withheld for federal income tax, $24.30 for FICA tax, and $11.32 for other deductions. Find his net pay.
(A) $405.17
(B) $231.93
(C) $81.62
(D) $241.93 =323.55 - 46 - 24.3 - 11.32

A nail 5 1/2 inches long is driven into a board 1 4/5 inches thick. How much of the nail protrudes from the other side of the board?
(A) 3 7/10 in. = 5 ...

Solution Summary

Twenty general finance math problems are solved.

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