Question 1

Svetlana is an independent insurance broker placing various clients with any of several insurance companies. On homeowner insurance policies, each month she receives: (i) $20 for each renewal of an existing policy, (ii) $35 per policy placed with a new client, and (iii) 5.5% of the annual premiums on all insurance policies (both new and renewals) written in the month. In October, she placed 37 new-client policies representing $14,375 in annual premiums and 126 policy renewals representing $47,880 in annual premiums. What amount did Svetlana earn in October?

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Question 2

An online discount broker charges a transaction fee of $30 plus an additional 3 cents per share. A full-service broker charges a commission rate of 2.4% of the total dollar value of a stock transaction. Suppose you purchase 200 shares of the Bank of Nova Scotia at $55.40 per share. What percentage are the total fees charged by the online discount broker of the commission you would pay the full-service broker?

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Question 3

A property sold for 250% of what the vendors originally paid for it. What was that original price if the recent selling price was $210,000?

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Question 4

$1.25 is ¾% of what amount accurate to the cent?

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Question 5

What percent of $6.39 is $16.39?

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Question 6

80% of what amount is $100?

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Question 7

In March, Canada's exports to the United States were $29.5 billion dollars, which were 104% of February's exports to the United States. Rounded to the nearest $0.1 billion, what was the value of Canada's exports to the United States in February?

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Question 8

The actual profit of $23,400 for the most recent fiscal quarter was 90% of the forecast profit. What was the forecast profit?

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Question 9

A mortality rate indicates the fraction of individuals in a population who are expected to die in the next year. If the mortality rate among 35-year-old males is 0.34%, what is the expected number of deaths per year among a province's total of 50,000 such males? If 35-year-old males constitute 0.83% of the overall population in a city of 1.45 million, how many deaths of such males are expected in that city in a year?

Accepted Answer

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Question 10

Renalda sold Westel stock that she purchased at $2.20 per share one year ago for 135% of the original price. At what price did she sell the stock?

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Question 11

The royalty rate performing artists receive from songs downloaded from Apple iTunes is 5.7%. If a band received royalties from Apple of $99,736.41 for a year, how many song downloads at $0.99 each did the band have for that year?

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The answer of The royalty rate performing artists receive from...

Question 12

Hasad is paid an annual salary of $54,600 based on a 40-hour workweek. What is his gross pay for a biweekly pay period if he works 43 hours in the first week and 46.5 hours in the second week? Overtime is paid at time and a half.

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Question 13

A stockbroker is paid 45% of the commission her firm charges her clients. If she personally received $134.55 on a $11,500 transaction, what is the firm's commission rate?

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Question 14

Lucille receives an annual salary of $37,500 based on a 37.5-hour workweek. What are her gross earnings for a two-week pay period in which she works 9 hours of overtime at 1½ times her regular rate of pay?

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Question 15

Herb packs fish in 500-g cans on a processing line. He is paid $8.25 per hour plus $0.18 per kilogram for production in excess of 500 kg in a 7.5-hour shift. How much will he earn per day if he packs 250 cans per hour?

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Question 16

167.5% of what amount is $100?

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Question 17

Sam is paid $34.50 per hour as a power plant engineer. He is paid 1½ times the regular rate for all time exceeding 8 hours in a day or 40 hours in a week. Statutory holidays worked are paid at double time (in addition to holiday pay). What were his gross earnings for a week in which he clocked 8, 9.5, 8, 8, 10, 0, and 8 hours on Saturday to Friday, respectively, where Monday was a statutory holiday?

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Question 18

In a one-month period, a convenience store had sales of $65,560 from its gas pumps and sales of $36,740 from other in-store products. What percent of total sales were from gasoline?

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Question 19

In a basketball game, the Langara College Falcons scored 
$54 . \overline{54} \% \text { of } 33 \text { shots from the } 2 \text {-point zone, }$
$ 46 . \overline{6} \% $ of 15 attempts from the 3 -point distance, and $ 79.3 \% $ of 29 foul shots ( 1 point each). How many points did the Falcons score?

Accepted Answer

The answer of In a basketball game, the Langara College...

Question 20

The maximum amount an individual can contribute to his or her Registered Retirement Savings Plan (RRSP) for a year is set from time to time by the Regulations of the Income Tax Act. For the year 2016, the maximum contribution was the lesser of $23,820 or 18% of the individual's "earned income" during 2015. What was the lowest amount of earned income for 2015 at which an individual could make a full $23,820 contribution in 2016? (Round to the nearest dollar.)

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The answer of The maximum amount an individual can contribute...

Quiz 1: Review and Applications of Basic Mathematics