How many dollars is 350% of 62¢?
> A pharmacy marked up its sunscreen to provide for overhead expenses of 40% of cost and a profit of 45% of cost. At the end of the summer, what rate of markdown can the pharmacy apply to the remaining inventory of sunscreen and still break even on sales a
> Ski ’n Cycle purchased Elan 200 skis for $492 per pair and priced them to give a 40% rate of markup on selling price. When this model was discontinued, the store marked down its remaining stock by 30%. What was the sale price after the markdown?
> Nelson Hardware ordered a shipment of gas barbecues at a suggested retail price of $459 less trade discounts of 25% and 10%. The manager intends to sell the barbecues at the suggested retail price. If overhead expenses are 20% of the selling price: 1. Wh
> Rearrange NI = (CM)X – FC, to isolate CM on the left side.
> To manufacture a new product, a company must immediately invest $375,000 in new equipment. At the end of Years 3 and 5, there will have to be a major overhaul of the equipment at a cost of $50,000 on each occasion. The new product is expected to increase
> Sunrise Building Supply obtains 4-ft by 8-ft sheets of wallboard from Canadian Gypsum at $30 per sheet less 30% and 10%. The price is to be set to cover Sunrise’s overhead of 20% of the selling price and to provide an operating profit of 18% of the selli
> Central Ski and Cycle purchased ski boots for $360 per pair less 33 1 3 % and 10%. The regular rate of markup on selling price of the boots is 40%. The store’s overhead is 22% of the selling price. During a January clearance sale, the price was reduced t
> The Pro Shop at Sunny Lake Golf and Country Club prices its golf club sets to allow for overhead of 33 1 3 % of cost and profit of 20% of cost. 1. What is the regular selling price as a percentage of cost? 2. What discount rate can the Pro Shop offer to
> A uranium mining town reported population declines of 3.2%, 5.2%, and 4.7% for the three successive five-year periods 1985–89, 1990–94, and 1995–99. If the population at the end of 1999 was 9320: 1. How many people lived in the town at the beginning of 1
> A trade discount of 22.5% from the suggested selling price for a line of personal computers translates to a $337.05 discount. What net price will a retailer pay?
> Bosley’s Pet Foods buys dog kibble for $19.50 per bag, less 40%. The store’s overhead is 33 1 3 % of the selling price, and the desired profit is 10% of the selling price. 1. At what price per bag should the dog food be sold? 2. At this price, what is th
> What total amount must be paid on May 4 to settle invoices dated April 20 for $650, April 24 for $790, and April 30 for $465, all with terms 1 1 2 /10, n/30?
> What is the cost of an item that sells for $87.49 if: 1. The rate of markup on cost is 30%? 2. The rate of markup on selling price is 30%?
> Omega Restaurant received an invoice dated July 22 from Industrial Kitchen Equipment for $3691, with terms 2/10, 1/20, n/45. Omega made payments of $1100 on August 1, $900 on August 10, and $800 on August 31. What amount was still owed on September 1?
> If a grocery store’s rate of markup on the selling price of tomatoes is 55%, what is the rate of markup on the cost of tomatoes?
> Rearrange N = L(1 – d), to isolate d on the left side.
> The evening news reports that the S&P/TSX Index dropped 0.9% on the day to close at 13,123 points. How many points did the index fall?
> In three successive years the price of the common shares of Bedrock Resources Ltd. fell 40%, 60%, and 70%, ending the third year at 50 cents. 1. What was the share price at the beginning of the three-year skid? 2. How much (in dollars and cents) did the
> A payment of $500 on an invoice for $887 reduced the balance owed to $378.09. What cash discount rate was allowed on the $500 payment?
> In addition to the regular trade discount of 25% and a volume purchase discount of 8 1 3 % from the manufacturer, Appliance Warehouse is offered a further 5% discount for orders placed in January. 1. What is the net price after all three trade discounts
> Custom Kitchens received an invoice dated November 17 from Idea Cabinets Ltd. for $7260 with terms 3/15, 1 1 2 /30, n/60. If Custom Kitchens made a payment of $4000 on December 2, what further payment on December 16 will settle the account?
> Specialty Builders Supply has two sources for the same power saw. Source A sells the saw at $196.00 less 20%, and Source B offers it at $186.60 less 16 2 3 % . Which source is less expensive, and by how much?
> If Indonesian rupiah 1.00 = C$0.0001121, how many rupiah can be purchased with C$1500?
> The new University Hospital is scheduled to have 436 beds. The ratio of nurses to beds to nurses’ aides for staffing the hospital is 4 : 9 : 2. How many nurses and aides will need to be hired?
> Three years ago, when the CPI was at 115.8, the members of a union were earning $22.25 per hour. Now, with the current CPI at 120.2, they are negotiating for a new hourly rate that will restore their former purchasing power. What hourly rate are they see
> A test-marketing of a newly released Blu-ray disc in a representative Canadian city, with a population of 120,000, resulted in sales of 543 units in a three-month period. If the Blu-ray disc sells at the same rate in the rest of the country, where 21,000
> Rearrange P V = P M T i , to isolate i on the left side.
> Milan, Katka, and Shoshanna started their partnership with a total investment of $135,000 contributed in the ratio of 3 : 4 : 2. If each partner contributes another $10,000, what will be the ratio of their total contributions?
> Mark, Ben, and Tanya own 4250, 2550, and 5950 shares, respectively, of MBT Inc. What is the ratio of their shareholdings?
> Solve the following proportions to four-figure accuracy. 1. 65 : 43 = 27.3 : x 2. 1410 : 2330 : 870 = a : 550 : b
> The exchange rate between Currencies X and Y is currently Y0.05614 = X1.00. If X weakens by 1.5% relative to Y, what will be the new values for the exchange rates per unit of X and per unit of Y?
> A steel company in Hamilton can purchase Alberta coal at C$105 per metric tonne (1000 kg) or West Virginia coal at US$95 per ton (2000 lb) (1 kg = 2.205 lb). How much cheaper in C$ per metric tonne is the less expensive source if US$0.805 = C$1.00?
> A partnership agreement provides that half of the annual profit be distributed in proportion to each partner’s investment in the partnership, and that the other half be distributed in proportion to the total number of hours that each partner worked in th
> Solve the following proportions for the unknown quantities. 1. t : 26 : 10 = 24 : 39 : s 2. x : 3600 : y = 48 : 40 : 105
> The exchange rate between the US$ and the C$ declines from US$1.3358 to US$1.3112 per C$. What will be the change in the C$ price to an importer of a US$2000 item?
> The CPI stood at 96.4, 98.6, 101.2, 103.3, 105.7, and 108.9 on the same date in successive years. 1. What was the inflation rate: (i) in the fourth one-year interval? (ii) in the fifth one-year interval? 2. What amount was required at the end in order to
> Mr. Nolan’s will specifies that the proceeds from his estate be divided among his wife, son, and stepson in the ratio of 7 5 : 1 : 5 7 , respectively. Rounded to the nearest dollar, how much will each receive from the distribution of his $331,000 estate?
> Rearrange I = Prt, to isolate t on the left side.
> Wendy, Simone, and Leif share the costs of their coffee fund in the ratio 3 2 : 2 3 : 5 3 . How will costs of $50 be allocated among them?
> A profit-sharing bonus was divided among four employees—Ms. L, Mr. M, Ms. N, and Mr. P—in the ratio of 1.5 : 1 : 0.75 : 0.5, respectively. If Ms. N received $2000, how much did each of the others receive?
> How should common area costs totalling $28,575 be allocated among commercial tenants A, B, C, and D if the costs are prorated based on leased areas of 1260, 3800, 1550, and 2930 square feet, respectively?
> Before Mr. and Mrs. Percival left for Great Britain, they purchased British pounds at an exchange rate of C$1.5947 = £1.00. When they returned to Canada eight weeks later they converted their remaining £242 back to Canadian currency at the rate of C$1.63
> A provincial government allocates 29% of its budget to education, 31% to health care, and 21% to social services. If the dollar amount budgeted for education is $13.7 billion, how much is budgeted for health care and for social services? Round to the ne
> If C$1.00 rises from ¥87.94 to ¥89.78, what will be the change in the C$ price to an importer of a ¥2,965,000 car?
> For the last five years the sales of Departments D, E, and F have maintained a relatively stable ratio of 13 : 17 : 21. Department E is forecasting sales of $478,000 for next year. Based on the past sales ratio, what sales would be expected for Departmen
> Express each of the following ratios in its lowest terms. 1. 0.18 : 0.60 : 0.45 2. 9 8 : 3 4 : 3 2 3. 1 6 : 1 3 : 1 9 4. 6 1 4 : 5 : 8 3 4
> In a downtown Edmonton office building, 42% of its employees smoke. If 11% of the smokers join a stop-smoking group and the group has 17 members, how many employees are in the office building? Round your answer to the nearest whole person.
> Solve each of the following: 1. What amount is 17.5% more than $29.43? 2. What amount reduced by 80% leaves $100? 3. What amount reduced by 15% equals $100? 4. What is $47.50 after an increase of 320%? 5. What amount when decreased by 62% equals $213.56?
> Use P V = P M T [ 1 − ( 1 + i ) − n i ] , to obtain PMT if PV = $6595.20, n = 20, and i = 0.06.
> 450 grams is what percentage of 2 kg?
> $150 is 200% of what amount?
> Fifteen minutes is what percentage of two hours?
> 3 4 % of what amount is $1.00?
> An $8600 investment was worth only $7900 one year later. If the rate of total return for the year was −5%, how much income was received from the investment during the year?
> Gabriel received $200 of income from an investment during the past year. This represents an income yield of 4%. If the capital gain yield for the year was 10%, what was the value of the investment (not including income) at the end of the year?
> Through a calculation on Canadian individual tax returns known as the Old Age Security (OAS) clawback, an individual receiving OAS benefits must repay an increasing portion of these benefits to the federal government as the individual’s net income rises
> Bricks and Mortar Building Inc. has retail locations in five provinces. 1. Calculate the market shares for each province for 2018 and 2019. 2. Calculate the year-on-year market growth for each location.
> Home improvement stores in Ontario had sales of $12.8B in 2019, which represents 31.5% of the Canadian home improvement and building supplies industry. 1. What were the total Canadian industry sales for 2019? 2. What is the dollar value of industry sale
> Use F V = P M T [ ( 1 + i ) n − 1 i ] , to obtain PMT if FV = $1508.54, n = 4, and i = 0.05.
> 80% of what amount is $100?
> One of the more volatile mutual funds in recent years has been the AGF China Focus Fund. The fund’s annual returns in successive years from 2007 to 2012 inclusive were 30.53%, −41.67%, 27.75%, 1.27%, −20.71%, and 17.0%, respectively. What was the fund’s
> A portfolio earned −13%, 18%, 5%, 24%, and −5% in five successive years. What was the portfolio’s total rate of return for the five-year period?
> A company’s annual report states that its common shares had price gains of 23%, 10%, −15%, and 5% during the preceding four fiscal years. The share price stood at $30.50 after last year’s 5% gain. 1. What was the price of the shares at the beginning of t
> One year ago, Christos bought 1000 units of the Dominion Aggressive Growth Fund at $20.35 per unit. Today a unit’s value is $19.10. During the year, the fund made a distribution of $0.40 per unit. On this investment, what is Christos’s: 1. Income yield?
> Albion Distributors’ revenues and expenses for the fiscal year just completed were $2,347,000 and $2,189,000, respectively. 1. If in the current year revenues rise by 10% but expense increases are held to 5%, what will be the percent increase in profit?
> Barry recently sold some stock after holding it for two years. The stock’s price rose 150% during the first year, but fell 40% in the second year. At what price did he buy the stock if he sold it for $24 per share?
> Two years ago the shares of Diamond Strike Resources traded at a price of $3.40 per share. One year later the shares were at $11.50, but then they declined in value by 35% during the subsequent year. Calculate: 1. The percent change in the share price du
> Yellowknife Mining sold 34,300 oz. of gold in Year 1 at an average price of $1160 per ounce. Production was down to 23,750 oz. in Year 2 because of a strike by the miners, but the average price obtained was $1280 per ounce. What was the percent change fr
> A Toyota Corolla could be purchased new in 1970 for $1686, while the more current 2019 model had a base price of $16,790. For this 49-year time period: 1. What is the percent increase in the base price? 2. If sales tax in 1970 was 5% and the current GST
> Use the formula FV = PV(1 + i1)(1 + i2)(1 + i3) to determine i1 if PV = $1000, FV = $1094.83, i2 = 0.03, and i3 = 0.035.
> Arctic sea ice has thinned in recent decades. In the mid-1960s the average thickness was 3.1 m. This dropped to an average thickness of 1.8 m in the mid-1990s. What was the percent reduction in ice thickness for this 30-year period?
> What percent of $6.39 is $16.39?
> Evaluate the following expressions to six-figure accuracy. 1. (1.0075)24 2. (1.05)1/6 – 1 3. ( 1 + 0.0075 ) 36 − 1 0.0075 4. 1 − ( 1 + 0.045 ) − 12 0.045
> Simplify: ( − 2 x 2 3 ) − 2 ( 5 2 6 x 3 ) ( − 15 x 5 ) −1
> Simplify: 1. (− 3x2) 3(2x − 2)6x 5 2. (− 2a3) − 2( 4 b 4 )3/2(− 2b3)(0.5a)3
> Evaluate each of the following expressions for the given values of the variables. The answer should be accurate to the cent. 1. L(1 – d1)(1 – d2)(1 – d3) for L = $340, d1 = 0.15, d2 = 0.08, d3 = 0.05 2. R i [ 1 − 1 ( 1 + i ) n ] for R = $575, i = 0.085,
> Evaluate: P ( 1 + i ) n + S1 + r t accurate to the cent for P = $2500, i = 0.1025, n = 2, S = $1500, r = 0.09, and t 93 365.
> Perform the indicated multiplication and division, and combine the like terms. 1. 6(4y – 3)(2 – 3 y) – 3(5 – y)(1 + 4 y) 2. 5 b − 4 4 − 25 − b 1.25 + 78 b 3. x 1 + 0.085 × 63 365 + 2 x ( 1 + 0.085 × 151 365 ) 4. 96 nm2 − 72 n2 m2 48n2m
> Simplify and collect the like terms. 1. 9 y − 7 3 − 2.3 ( y − 2 ) 2. P ( 1 + 0.095 × 135 365 ) + 2 P 1 + 0.095 × 75 365
> Multiply and collect the like terms: 4(3a + 2b)(2b – a) – (2a – b)(a + 3b)
> Use N = L(1 – d1)(1 – d2)(1 – d3), to calculate d2 if N = $70.29, L = $99.99, d1 = 0.20, and d3 = 0.05.
> The profits from a partnership are to be distributed so that Grace receives 20% more than Kajsa, and Mary Anne receives five-eighths as much as Grace. How much should each receive from a total distribution of $36,000?
> The annual net income of the Todd Bros. partnership is distributed so that Ken receives $15,000 more than 80% of Hugh’s share. How should a net income of $98,430 be divided between the partners?
> Norman’s Gourmet Tea wants to prepare a custom tea blend using a mixture of mint tea leaves that cost $0.202 per gram and chamomile tea leaves that cost $0.158 per gram. Norman’s wants to prepare 2 kg of the mint-chamomile blend and price it at $0.179 pe
> Rearrange the formula NI = (CM)X – FC to isolate CM.
> Rearrange the formula FV = PV(1 + i1)(1 + i2) to isolate i1.
> Use the formula Vf = Vi(1 + c1)(1 + c2)(1 + c3) to determine c2 if Vf = $586.64, Vi = $500, c1 = 0.17, and c3 = 0.09.
> Use Formula (5-2), N = L(1 – d1)(1 – d2)(1 – d3), to calculate d2 if N = $324.30, L = $498, d1 = 0.20, and d3 = 0.075. Data from Formula 5-2: N = L(1 − d1)(1 − d2)(1 − d3)
> Solve the following equations for x to five-figure accuracy and verify the solution. 1. x 1.08 3 + x 2 ( 1.08 ) 4 = $ 850 2. 2 x ( 1 + 0.085 × 77 365 ) + x 1 + 0.085 × 132 365 = $ 1565.70
> Solve the following equations for x to five-figure accuracy. 1. 2 x 1 + 0.13 × 92 365 + x ( 1 + 0.13 × 59 365 ) = $ 831 2. 3 x ( 1.03 5 ) + x 1.03 3 + x = $ 2500 1.03 2
> Evaluate the following expressions to six-figure accuracy. 1. ( 1.00 6 ¯ ) 240 − 1 0.00 6 ¯ 2. (1 + 0.025)1/3 – 1
> Use I = Prt, to calculate P if r = 0.05, I = $6.25, and t = 0.25.
> Multiply and collect the like terms: 4(3a + 2b) – 5a(2 – b)
> The fiscal year for Pine Valley Skiing Ltd., the owner of a downhill skiing facility, ends on June 30. The company began the recently completed fiscal year with its summer maintenance crew of seven employees. During the fiscal year, employees were hired
> Anthony began the year with $96,400 already invested in his Snow ’n Ice retail store. He withdrew $14,200 on March 1 and another $21,800 on April 1. On August 1, he invested $23,700, and on November 1, he contributed another $19,300. What was his average
> One year ago Helga allocated the funds in her portfolio among five securities in the amounts listed in the following table. The rate of return on each security for the year is given in the third column of the table. Calculate the average rate of return f
> Ms. Yong invested a total of $73,400 in three mutual funds as shown in the following table. The third column shows the change in value of each fund during the subsequent six months. What was the percent change in value of Ms. Yong’s ove
> Souvenirs and Such” is a gift shop in Niagara Falls. Last year 22% of its revenue came from the sale of clothing, 18% from food items, 32% from novelty items, and the remainder from special services the shop provided for tourists. This past year the shop
> Havel signed a listing agreement with a real estate agent. The commission rate is 4% on the first $200,000 of the selling price, and 2.5% on the remainder. 1. What commission will Havel pay if he sells his home for $289,000? 2. What is the average commis
> Lauren’s gross pay for July was $3188.35 on net sales totaling $88,630. If her base salary is $1000 per month, what is her rate of commission on sales exceeding her monthly quota of $40,000?
