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##### QRB 501 Final Exam

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Question;QRB;501 Final Exam;1. Find the range for the set of;data: 23, 29, 17, 21, 21. The range is;2. Write the percent as a decimal Round to the nearest thousandth if the;division does not terminate. 9/24 %;9/24% =;3. A number is decreased by 40% to 180. What is the original amount?;The original amount is;4. The grades earned by student on a mid- term business math exam are shown on;the right. Make a frequency distribution of the data using the intervals 60-69;70-79, 80-89, and 90-99.;77 85 63;88 94;81;91 72 84;87;98;93 85 68 91;78;86 98 83;92;Fill out the ground frequency;distribution.;Class intervals Tally;Class Frequency;60-69;70-79;80-89;90-99;5. Solve for x. Remember to perform a check.;X/6 = 8;6. A loan for $3,000 with a simple annual interest rate of 15% was made on June;17 and was due on August 17. Find the exact interest. Click the icon to view;the table of the sequential number for dates of the year. I = $;7. Solve for the unknown in the question.;5A + 6= 36;A = ____.;8. Find the amount that should be set aside today to yield the desired future;amount.;Future Amount;Interest;Compounding Investment;needed;rate;period;time;$5,000;6%;semiannually 2 years;Click the icon to view the present value of $1.00 table. The present value is;9. An employee makes $12.41 per hour but is getting a 4% increase. What is his;new wage per hour to the nearest cent? His;new wage per hour is $________.;10. Solver for the unknown in the;equation. K/2 + 4 = 6;K =;11. Makeup rate based on selling price = 11%, markup = $390. Find the selling;price. Round to the nearest cent. The selling price is $ ____.;12. Ronnie Cox has just inherited $27,000. How much of this money should he set;aside today to have $16,000 to pay cash for a Ventura Van, which he plans to;purchase in one year? He can invest at 1.8% annually, compounded annually. The amount of the money to be set aside is $;13. A compact disc player sells for $320. The cost is %86. Find the markup of;the cd player.;The markup is $________.;14. A man received an invoice dated March 9, with term 4/10, n/30 amounting to;$550. He paid the bill on March 12. How much was the cash discount? The cash;discount was $____.;15. A man?s stock earned;$142,000,000. If these earning represent $1.19per share, how many shares of;stock are there? The man has ____shares of stock.;16. Solve for the unknown is equation. 8K - 2K= 8;K =;17. A serving tray costs $1,363and sells for $2,042.;a. Find the rate of markup based on cost. The rate of markup based on cost is;%.;b. Find the rate of markup based on selling price. The rate of markup based on;selling price is ___%.;18. A sofa cost $388 and sells for;$659.60, which is 170% of the cost.;a. Find the rate of markup. The rate of markup is ____%.;b. Find the markup. The markup is $_____.;19. A number increase from 2,107 to 7,240. Find the amount of increase. The;amount increase is _____.;20. Find the mean for the scores: 3,800, 5,300, 8,560, 4300, 5,340. The mean;for the scores is ____.;21. Find the net price of a computer that lists for $660 if a discount rate of;10% is offered. The net price of the computer is $_____.;22. Solve the proportion for N. N/5 = 21/15;N =;23. An item sells for $56 and is reduce to sell for $35. Find the markdown;amount an the rate of markdown. The markdown amount is $____. The rate of;markdown is ___%.;24. Find the deviation from the mean for the set of data: 23, 26, 19, 21, 21.;Score;Deviation from mean;23;26;19;21;21;25. A bank made a farmer a loan of $1,200 at 14% for three years compounded;annually. Find the future value and the compounded interest paid on the loan.;Compare the compound interest with simple interest for the same period.;Future value = $____.;Compound interest = $____.;Simple interest = $____.;Compound interest is $____ more than simple interest.;26. The price of a winter coat dropped by 35% to $106. What was the original;price? The original price was approximately $_______.;27. Find the gross profit margin ratio if the premier Eatery had net sales of;$390,923 and its cost of goods sold was $176,532. The gross profit margin ratio is _______ to 1.;28. Compute the amount of money to be set aside today to ensure a future value;of $2,200 in one year if the interest rate is 7.5% annually, compounded;annually.;The amount of money to be set aside is $_________.;29. Find the interest paid on a loan of $2,500 for three years at a simple;interest rate of 12% per year. The interest on a loan is $____.;30. A company managers a electronic equipment store and has ordered 200 remote;controlled color TVs for a special sale. The list price for each TV is $250;with a trade discount series of 7/8/4. Find the net price of the order by using;the net decimal equivalent. The total net price is $____.;31. A loan is made for 90 months. Convert the time to years. 90 months = ____ years.;32. Find the median for the scores: 92, 69, 72, 81, 72, 95, 89, 74, 72, 89, 89;96, 74, 76.;The median is ____.;33. Match the dollar values with the names in the circle graph: $188, $143;$83, $62, $62.;Choose the correct answer below.;a. Chevez - $188, Young - $62, Chow - $62, Santoni - $83, Wilson - $143;b. Cheveq - $188, Young - $62, Chow -$62, Santoni - $143, Wilson - $83;c. Cheveq - $143, Young - $62, Chow -$62, Santoni - $188, Wilson - $83;d. Cheveq - $62, Young - $188, Chow -$143, Santoni - $62, Wilson - $83;34. Cost = $80, Selling price = $200.;a. Find the makeup. The markup is $____.;b. Find the rate of markup based on cost. The percent of markup based on cost;is ____%.;35. Find the mode for the amounts;$17,292, $14,913, $13,512, $14,500, $18,514, $14,913.;Select the correct choice below and fill in any answer boxes within your;choice.;a. The mode is $;b. There is no mode;36. Use the net price rate to calculate the net price for 20 boxes of computer;paper if the unit price is $12.74 and a single trade discount rate of 40% is;allowed. The net price is $____.;37. Use the line graph to the right determine what speed gave the highest;gasoline mileage for both types of automobiles. _______ mph.;38. One distributor list ink-jet printers with 360 dpi and six scalable fonts;that can print envelopes, labels and transparencies for $181.88 with a trade;discount series of 5/ 5/ 15. Another distributor lists the same brand and model;printer at $221 with a trade discount series of 5/15/15. Which is the better;deal if all other aspects of the deal, such as shipping, time of availability;and warranty are the same or equivalent?;Which is better deal?;The second deal - $221 with the 5/15/15 discount series.;The first deal - $181.88 with the 5/15/15 discount series.;39. Company A reported net sales of $261,583 and had average total assets of;$163,777. Find its asset turnover ratio. The asset turnover ratio is;approximately ____.;40. Find the maturity value of a loan of $2,300.00 after two years. The loan;carries a simple interest rate of 7.2% per year. The maturity value of a loan;is $____.;41. Find the operating ratio for sol?s Dry Goods if the income statement for;the month shows net sales, $15500, cost of goods sold, $6500, gross profit;$7000, operating expenses, $2500, net income, $3500. Express result to the;nearest tenth for a percent. Operating ratio is ____%.;42. A company purchase 10,000 pairs of men?s slacks for $18.66 per pair and;marked them up $22.13. What was the selling price of each pair of slacks? Use;the formula S = C +M. The selling price of each pair of slacks is $____.;43. A man needed money to buy lawn equipment. He borrowed $500.00for eight;months and paid $53.98 in interest. What was the rate of interest?;The rate of interest per year was ___%.;44. Selling price = $41.99, markup = $13.99. Find the cost. The cost is $____.;45. Solve for the unknown in the question. 4(X ? 4) = 4;X =;46. An item is originally priced to sell for $75 and is marked down 20%. A;customer has a coupon for an additional 5%. What is the total percent;reduction? The total percent reduction is ___%.;47. Steven found a bicycle within an original price tag of $499 but it had been;reduced by 35%. What is the amount of markdown and the sale price?;The markdown is $___.;The new selling price is $___.;48. Find the acid-test ratio for a business if the balance sheet shows the;following amounts: cash, $32,568, receivable, $13,042, marketable;securities,$0, current liabilities, $23,255. The acid-test ratio is;approximately ___.;49. A company sold garden hoses at a reduced price of $7.62 and took an end;of-season markdown of $8.37. What was the original selling price of each;hose? Use the formula M = S-N, where M is the markdown, S is the original;selling price, and N is the reduce price.;The original selling price of each hose is $___.;50. Identify the rate, based and portion. 81% of 22 is what number?;Which values are given? Select the correct choice below and fill in any answer;boxes in your choice. (Type an integer or a decimal do not perform the;calculation.);a. The base is ___ and the portion is____. The rate is not given.;b. The rate is ___ % and the base is___. The portion is not given.;c. The rate is ___% and the portion is ___. The base is not given.;51. Find the exact interest on a loan of $32,600 at 8% annually for 35 days. $;52. Solve for the unknown in the equation. 2A + 4A = 24;A = ___. (Simplify your answer.)

Paper#52183 | Written in 18-Jul-2015

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