Question 1

Computer Inc. uses a markup of $1260 on a computer system for which they pay $2800. What is the markup rate on this system?
A) 5 $\%$
B) 45 $\%$
C) 450 $\%$
D) 34 $\%$
E) 23 $\%$

Accepted Answer

The markup rate is calculated as the markup divided by the cost. So, the markup rate = $1260 / $2800 = 0.45, or 45%.

Question 2

Bob's weight is currently 280 pounds. After a visit with his doctor, Bob is advised that based on his height and age, he should lose 5% of his weight over the next 12 months. How much weight does he need to lose?
A) 10 pounds
B) 21 pounds
C) 14 pounds
D) 13 pounds
E) 23 pounds

Accepted Answer

C

Question 3

Suppose your local supermarket offers the following products at the given prices. Find the more economical purchase. Corn, 8 ears for $2.29 or 4 ears for $2.19
A) 4 ears for $2.19
B) 8 ears for $2.29
C) No difference

Accepted Answer

The cost per ear for 8 ears at $2.29 is about $0.29, while the cost per ear for 4 ears at $2.19 is about $0.55. Therefore, 8 ears for $2.29 is more economical.

Question 4

If Stella Swiss Lorraine cheese costs $5.99 per pound, find the total cost of 0.45 pound. Round to the nearest cent.
A) $2.43
B) $2.80
C) $6.44
D) $13.31
E) $2.70

Accepted Answer

To find the total cost of 0.45 pound of cheese at $5.99 per pound, multiply 0.45 by 5.99. The calculation is 0.45 * 5.99 = 2.6955, which rounds to $2.70.

Question 5

A local hospital implemented a program to attempt to reduce the number of unnecessary visits to the emergency room. Prior to the implementation, there was an average of 568 visits and after the program began, there was an average of 470 visits per month. What percent decrease does this represent? Round to the nearest tenth.
A) 20.8 $\%$
B) 19.3 $\%$
C) 17.3 $\%$
D) 16.3 $\%$
E) 14.7 $\%$

Accepted Answer

The percent decrease is calculated as $\frac{568 - 470}{568} \times 100 = 17.3\%$.

Question 6

Over a 10-year period, a grocery store chain increased its number of stores from 470 to 520. What was the percent increase in the number of stores? Round your answer to the nearest tenth of a percent.
A) 11.6 $\%$
B) 10.6 $\%$
C) 50.0 $\%$
D) 1.1 $\%$
E) 10.7 $\%$

Accepted Answer

The percent increase is calculated as $\frac{520 - 470}{470} \times 100 = \frac{50}{470} \times 100 \approx 10.6\%$.

Question 7

In 2009, the American Cancer Society estimated the number of new cancer cases in the United States would be 1,441,250. The 2010 prediction reflected a 4.9% increase in the estimate. Find the estimate of new cancer cases in 2010. Round to the nearest whole number.
A) 1,511,871 new cases
B) 1,632,021 new cases
C) 1,201,259 new cases
D) 1,512,431 new cases
E) 1,370,629 new cases

Accepted Answer

To find the estimate for 2010, increase the 2009 estimate by 4.9%. $1,441,250 \times 1.049 = 1,511,870.625$, which rounds to 1,511,871.

Question 8

Find the unit cost. Round to the nearest tenth of a cent. Doritos Cool Ranch chips, 12.5 ounces for $3.99
A) $3.671 per ounce
B) $0.419 per ounce
C) $3.133 per ounce
D) $0.319 per ounce
E) $0.681 per ounce

Accepted Answer

To find the unit cost, we need to divide the total cost by the number of ounces.

Unit cost = $3.99/12.5 ounces 
Unit cost = $0.3192 per ounce

Rounding to the nearest tenth of a cent gives us $0.319 per ounce, which matches with choice D. Therefore, the best choice is D.

Question 9

An automobile manufacturer increased the average mileage on a car from 20 miles per gallon to 20.4 miles per gallon. Find the percent increase in mileage. Round your answer to the nearest tenth of a percent.
A) 2.1 $\%$
B) 0.4 $\%$
C) 0.2 $\%$
D) 2.0 $\%$
E) 3.0 $\%$

Accepted Answer

The percent increase is calculated as $\frac{20.4 - 20}{20} \times 100\% = 2.0\%$.

Question 10

A new computer system reduced the time for printing the payroll from 47 minutes to 27 minutes. 
a) What is the amount of the decrease?
b) What percent decrease does this amount represent? Round your answer to the nearest percent.
A) a) 30 minutes; b) 85 $\%$
B) a) 20 minutes; b) 43 $\%$
C) a) 20 minutes; b) 85 $\%$
D) a) 30 minutes; b) 43 $\%$
E) a) 30 minutes; b) 4 $\%$

Accepted Answer

The decrease in time is 47 minutes - 27 minutes = 20 minutes. The percent decrease is calculated as (decrease/original time) * 100 = (20/47) * 100, which rounds to approximately 43%.

Question 11

Find the unit cost. Round to the nearest tenth of a cent. Adjustable wood clamps, 4 for $11.95
A) $7.950 per clamp
B) $0.335 per clamp
C) $2.988 per clamp
D) $3.088 per clamp
E) $8.962 per clamp

Accepted Answer

To find the unit cost, divide the total cost by the number of items. $11.95 / 4 = $2.9875, which rounds to $2.988 per clamp.

Question 12

Suppose your local supermarket offers the following products at the given prices. Find the more economical purchase. Sutter Home pasta sauce, 20 ounces for $2.99 or Muir Glen Organic pasta sauce, 27 ounces for $3.49
A) Muir Glen Organic
B) Sutter Home
C) No difference

Accepted Answer

To compare the prices, we need to find out the price per ounce. 
For Sutter Home: Price per ounce = 2.99/20 = $0.1495 per ounce
For Muir Glen Organic: Price per ounce = 3.49/27 = $0.1292 per ounce
Therefore, Muir Glen Organic is a more economical purchase as it costs less per ounce than Sutter Home.

Question 13

Kiwi fruit costs $0.23 each. Find the total cost of 8 kiwi. Round to the nearest cent.
A) $8.23
B) $1.94
C) $1.84
D) $34.78
E) $1.66

Accepted Answer

To find the total cost of 8 kiwis, we need to multiply the cost of one kiwi by 8. 
0.23 x 8 = 1.84
So the answer is C, $1.84 rounded to the nearest cent.

Question 14

Standard Brands paint that regularly sells for $10 per gallon is on sale for $8 per gallon. 
a) What is the discount?
b) What is the discount rate?
A) a) $3; b) 20 $\%$
B) a) $2; b) 20 $\%$
C) a) $4; b) 30 $\%$
D) a) $2; b) 30 $\%$
E) a) $3; b) 30 $\%$

Accepted Answer

The discount is the difference between the original price and the sale price, which is $10 - $8 = $2. The discount rate is the discount divided by the original price, then multiplied by 100 to get a percentage: $\frac{2}{10} \times 100 = 20\%$.

Question 15

Resner Builders' Hardware uses a markup rate of 36% for a table saw that costs $190. What is the selling price of the table saw?
A) $193.80
B) $68.40
C) $684.00
D) $258.40
E) $448.40

Accepted Answer

The selling price is calculated by adding the markup to the cost. The markup is 36% of $190, which is $190 * 0.36 = $68.40. Adding the markup to the cost gives $190 + $68.40 = $258.40.

Question 16

Suppose your local supermarket offers the following products at the given prices. Find the more economical purchase. Kleenex tissues, 165 tissues for $1.09 or Puffs tissues, 250 tissues for $2.89
A) Kleenex tissues
B) Puffs tissues
C) No difference

Accepted Answer

To compare the prices of the two tissue options, we need to find the unit price for each. For Kleenex tissues, the unit price is $1.09/165 = $0.0066 per tissue. For Puffs tissues, the unit price is $2.89/250 = $0.0116 per tissue. Therefore, Kleenex tissues are more economical as they are approximately half the cost per tissue compared to Puffs tissues.

Question 17

Find the unit cost. Round to the nearest tenth of a cent. Ibuprofen, 50 tablets for $3.39
A) $0.068 per tablet
B) $14.749 per tablet
C) $0.932 per tablet
D) $3.322 per tablet
E) $0.168 per tablet

Accepted Answer

To find the unit cost, divide the total cost by the number of units. $3.39 / 50 tablets = $0.0678 per tablet, which rounds to $0.068 per tablet.

Question 18

During 1 year, the number of people subscribing to direct broadcasting satellite systems increased 87%. If the number of subscribers at the beginning of the year was 2.5 million, how many subscribers were there at the end of the year? Round to the nearest hundredth of a million.
A) 2.17 million subscribers
B) 7.01 million subscribers
C) 2.34 million subscribers
D) 3.18 million subscribers
E) 4.68 million subscribers

Accepted Answer

To find the number of subscribers at the end of the year, we need to add the increase of 87% to the initial number of subscribers.

87% of 2.5 million is:

0.87 x 2.5 million = 2.175 million

Therefore, the number of subscribers at the end of the year is:

2.5 million + 2.175 million = 4.675 million

Rounding to the nearest hundredth of a million gives us:

4.68 million subscribers, which is answer choice E.

Question 19

A medical device costs $16 to produce. If the retail store uses a 45% markup rate on the device, what is its selling price?
A) $8.8
B) $23.2
C) $25.2
D) $29.2
E) $22.2

Accepted Answer

The markup on the device is 45% of $16, which is $7.2. Therefore, the selling price is $16 + $7.2 = $23.2.

Question 20

Seniors Medical Supply uses a markup rate of 55%. What is the selling price of a pair of aluminum crutches that costs $18?
A) $30.5
B) $25.8
C) $28.9
D) $8.1
E) $27.9

Accepted Answer

The selling price is calculated by adding the markup to the cost price. The markup is 55% of $18, which is $9.9. Adding this to the cost price gives $18 + $9.9 = $27.9.

Quiz 6: Applications for Business

Computer Inc. uses a markup of $1260 on a computer system for which they pay $2800. What is the markup rate on this system?

Bob's weight is currently 280 pounds. After a visit with his doctor, Bob is advised that based on his height and age, he should lose 5% of his weight over the next 12 months. How much weight does he need to lose?

Suppose your local supermarket offers the following products at the given prices. Find the more economical purchase. Corn, 8 ears for $2.29 or 4 ears for $2.19

If Stella Swiss Lorraine cheese costs $5.99 per pound, find the total cost of 0.45 pound. Round to the nearest cent.

Over a 10-year period, a grocery store chain increased its number of stores from 470 to 520. What was the percent increase in the number of stores? Round your answer to the nearest tenth of a percent.

In 2009, the American Cancer Society estimated the number of new cancer cases in the United States would be 1,441,250. The 2010 prediction reflected a 4.9% increase in the estimate. Find the estimate of new cancer cases in 2010. Round to the nearest whole number.

Find the unit cost. Round to the nearest tenth of a cent. Doritos Cool Ranch chips, 12.5 ounces for $3.99

An automobile manufacturer increased the average mileage on a car from 20 miles per gallon to 20.4 miles per gallon. Find the percent increase in mileage. Round your answer to the nearest tenth of a percent.

A new computer system reduced the time for printing the payroll from 47 minutes to 27 minutes. a) What is the amount of the decrease? b) What percent decrease does this amount represent? Round your answer to the nearest percent.

Find the unit cost. Round to the nearest tenth of a cent. Adjustable wood clamps, 4 for $11.95

Suppose your local supermarket offers the following products at the given prices. Find the more economical purchase. Sutter Home pasta sauce, 20 ounces for $2.99 or Muir Glen Organic pasta sauce, 27 ounces for $3.49

Kiwi fruit costs $0.23 each. Find the total cost of 8 kiwi. Round to the nearest cent.

Standard Brands paint that regularly sells for $10 per gallon is on sale for $8 per gallon. a) What is the discount? b) What is the discount rate?

Resner Builders' Hardware uses a markup rate of 36% for a table saw that costs $190. What is the selling price of the table saw?

Suppose your local supermarket offers the following products at the given prices. Find the more economical purchase. Kleenex tissues, 165 tissues for $1.09 or Puffs tissues, 250 tissues for $2.89

Find the unit cost. Round to the nearest tenth of a cent. Ibuprofen, 50 tablets for $3.39

During 1 year, the number of people subscribing to direct broadcasting satellite systems increased 87%. If the number of subscribers at the beginning of the year was 2.5 million, how many subscribers were there at the end of the year? Round to the nearest hundredth of a million.

A medical device costs $16 to produce. If the retail store uses a 45% markup rate on the device, what is its selling price?

Seniors Medical Supply uses a markup rate of 55%. What is the selling price of a pair of aluminum crutches that costs $18?