Mathematics
1. A new clerk in your office is to earn $450 per week. If she works 30.5 hours each week, what is her hourly rate? (Round off your answer to the nearest hundredth, that is, to the nearest cent.)
A. $14.75
B. $13.10
C. $12.00
D. $13.75
2. The present value of the money in your savings account is $420, and you’re receiving 3% annual interest compounded monthly. What is the future value in two months?
A. $426
B. $424.11
C. $432.60
D. $422.10
3. Patrick works a 40-hour week at $10.70 an hour with time and a half for overtime. Last week he worked 45 hours. What were his total earnings for the week?
A. $508.25
B. $444.05
C. $510.00
D. $481.15
4. You’ve just received an order of silk flower arrangements from your wholesaler. You paid $20.00 each for them. Your store uses a 10% markup rate. What is the selling price of the silk flower arrangements?
A. $30.00
B. $22.00
C. $2.00
D. $200.00
5. Megan had a gross pay last week of $980.00. If her total deductions were $161.35, what was her net pay?
A. $728.65
B. $818.65
C. $718.65
D. $828.65
6. You’ve begun to jog for one hour a day three times a week. If you jog 5.5 miles per hour, how far will you jog each week?
A. 5.5 miles
B. 38.5 miles
C. 16.5 miles
D. 12.5 miles
7. The exchange rate of U.S. dollars to British pounds is .63. You have $4000 to convert to British pounds (£). How many British pounds will you receive?
A. £4063
B. £6349
C. £2520
D. £3937
8. Perform the following division:
3 3/4 ÷ 2/8
A. 8 3/4
B. 15
C. 2 1/2
D. 12
9. If you borrow $1,700 at 7% simple interest, how much interest will you pay?
A. $1819
B. $7.00
C. $119
D. $120
10. Your yearly office supply budget is $1,200. You spend $350 each year on paper. What percent of your budget do you spend on paper? (Round off your answer to two places.)
A. 29%
B. 42%
C. 41%
D. 30%
11. Carole earns $2.50 for each gadget she completes. What was her gross pay if she completed 145 gadgets last week?
A. $352.50
B. $362.50
C. $326.50
D. $360.50
12. One of your delivery trucks traveled 1,200 miles on 55 gallons of gas. How many miles per gallon did the truck get? (Round off your answer to the nearest hundredth.)
A. 21.82
B. 21.81
C. 45.84
D. 45.83
13. An invoice quotes a price of $620 subject to discounts of 30%, 15%, and 5%. What is the selling price? (Round off your answer to the nearest cent.)
A. $368.90
B. $434.00
C. $310.00
D. $350.46
14. Which one of the following fractions is equivalent to 1/2?
A. 2/4
B. 1/4
C. 1/8
D. 2/8
15. It cost your office $620 to mail 500 flyers. How much did it cost to mail each flyer?
A. $.81
B. $.84
C. $1.24
D. $1.20
16. The last time you ordered paper you paid $5.00 per ream. The current price is $4.70 per ream. What is the percent of decrease in price?
A. 6%
B. 30%
C. 7%
D. 28%
17. You have a loan for $150,000 at 5% on a 30-year mortgage. You plan to pay off your loan in 10 years. Do you want your loan to be figured using the Rule of 78 or the Unpaid Principle Balance Rule?
A. Not enough information given
B. Unpaid Principle Balance Rule
C. Rule of 78
D. Neither
18. A quote you received from a local restaurant is $625 for a business luncheon. The restaurant owner tells you the price with gratuity is $720. How much did the owner add for gratuity?
A. $105
B. $75
C. $95
D. $85
19. The price of a ticket for your office Christmas party is $17.75. So far you’ve sold 28 tickets. How much money should you have?
A. $497
B. $330
C. $495
D. $427
20. A decorator has estimated the following costs for remodeling a large conference room in your office area: carpeting, $2,620; conference table, $750; chairs, $630; paint, $50; two lamps, $95 each; and labor, $425. What is the total cost of the remodeling job?
A. $3,555
B. $4,665
C. $4,570
D. $4,370
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