# Quiz 1: Review and Applications of Basic Mathematics

Business

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Q 32Q 32

Determine the final value of
A) 45,007.22
B) 85,004.84
C) 102,075.67
D) 12,145.88
E) 16,826.67

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Q 33Q 33

Determine the final value of
A) 12,814.55
B) -40,321.87
C) -55,089.56
D) -78,921.47
E) 98,921.54

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Q 34Q 34

Calculate the final value of the following equation
A) 8,640.69
B) 8,122.68
C) 5,867.98
D) 1,882.57
E) 5,345.43

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Q 35Q 35

Calculate the final value of the following equation
A) 23,841.35
B) 42,514.98
C) 67,232.57
D) 80,141.68
E) 92,654.12

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Q 36Q 36

Calculate the final value of the following equation
A) 1,150.45
B) 1,385.61
C) 2,128.47
D) 1,774.88
E) 2,235.47

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Q 53Q 53

Janet earned $78,000 last year. Tax rate earned on the first $20,000 is 15%; 25% on the next $25,000 and 30% for the remainder of income. What was the amount of tax paid?
A) 18,200
B) 19,150
C) 20,250
D) 22,000
E) 22,500

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Q 54Q 54

David earned $59,000 last year. Tax rate earned on the first $20,000 is 15%; 25% on the next $25,000 and 30% for the remainder of income. What was the average tax rate?
A) 25%
B) 24.15%
C) 23.33%
D) 22.85%
E) 21.22%

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Multiple Choice

Q 55Q 55

Nitin earns $48,000 per year. Determine his gross earnings each pay period in a year if he is paid biweekly. Assume there are 52 weeks in the year.
A) $2,000
B) $4,000
C) $923.08
D) $1,846.15
E) $1,923.08

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Q 56Q 56

Nitin earns $48,000 per year for a forty-hour workweek. Determine his hourly rate of pay if he is paid biweekly. Assume there are 52 weeks in the year.
A) $250.00
B) $24.04
C) $46.50
D) $50.00
E) $23.08

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Q 57Q 57

Nitin is paid a base salary of $200 per week and commission at the rate of 3% for sales over $5,000, 4% if his sales are over $8,000, and 5% if sales are over $15,000. How much will Nitin earn in a week in which his sales are $20,000?
A) $1,200
B) $1,000
C) $800
D) $600
E) $200

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Q 58Q 58

Nitin is paid a base salary of $300 per week and commission at the rate of 2.5% for sales over $5,000, 4% if his sales are over $10,000, and 4.5% if sales are over $25,000. How much will Nitin earn in a week in which his sales are $20,000?
A) $800
B) $1,100
C) $900
D) $1,200
E) $1,125

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Q 59Q 59

Nitin is paid on a graduated commission scale. His base salary is $250 per week and he receives commission at the rate of 2.5% for the first $5,000 of sales in a week, 4% on the next $10,000, and 4.5% on all further sales. How much will Nitin earn in a week in which his sales are $30,000?
A) $1,200
B) $1,350
C) $1,450
D) $1,600
E) $1,000

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Q 60Q 60

Nitin is paid on a graduated commission scale. His base salary is $1,500 per month and he receives commission at the rate of 2% for the first $10,000 of sales in a month, 3% on the next $20,000, and 4.5% on all further sales. How much will Nitin earn in a month in which his sales are $60,000?
A) $2,150
B) $2,250
C) $3,750
D) $3,650
E) $2,500

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Q 61Q 61

A sales representative is paid the greater of $950 or 8% of sales. At what volume of sales will he start to earn more from the commission-based compensation?
A) $9,500
B) $1,026
C) $1,875
D) $1,187.50
E) $11,875

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Q 62Q 62

Nitin is paid on a graduated commission scale. He receives commission at the rate of 2.5% for the first $5,000 of sales in a week, 4% on the next $10,000, and 4.5% on all further sales. What is Nitin's average rate of commission in a week in which his sales are $30,000?
A) 3.67%
B) 4%
C) 3.33%
D) 3.75%
E) 4.25%

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Q 63Q 63

What is his gross salary per pay period?
A) $1,908.33
B) $1,815.93
C) $1,616.18
D) $1,755.51
E) $1,761.54

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Q 65Q 65

What is his total remuneration for a two-week period in which he worked 4.5 hours overtime at time-and-a-half?
A) $2,058.81
B) $2,230.36
C) $1,858.23
D) $1,953.02
E) $2,051.75

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Q 66Q 66

Fred has an annual salary of $40,000.00. He is paid semi-monthly and his regular workweek is 40 hours. What is his regular salary per pay period?
A) $1,538.46
B) $1,458.33
C) $3,076.92
D) $1,666.67
E) $3,333.33

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Q 67Q 67

Nitin is paid on a graduated commission scale. He receives commission at the rate of 2% for the first $10,000 of sales in a month, 3% on the next $20,000, and 4.5% on all further sales. What is Nitin's average rate of commission in a month in which his sales are $60,000?
A) 3.167%
B) 3.417%
C) 3.583%
D) $5
E) 3.83%

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Q 68Q 68

A sales representative is paid the greater of $1,275 per week or 9% of sales. At what volume of sales will she start to earn more from the commission-based compensation?
A) $14,166.67
B) $1,389.75
C) $2,295
D) $2,422.50
E) $12,750

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Q 69Q 69

Stuart's regular rate of pay is $22 per hour. He is given 1.5 times the rate of pay for days he works over 37.5 hours. Determine the amount earned during a week where he worked 42 hours.
A) $770
B) $973.5
C) $1,065
D) $1,110
E) $1,200

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Q 70Q 70

Sandy is a commissioned car sales consultant, and receives weekly pay of $300 plus $250 commission for each vehicle sold. If Sandy, earned $4,450 last month, determine the number of vehicles sold.
A) 10
B) 11
C) 12
D) 13
E) 14

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Q 71Q 71

Nancy is a realtor and earns income based on a graduated commission scale. Nancy is paid $3, 000 plus 2.5% on the first $140,000; 1.5% on the next $300,000 and .5% on the remaining value over $440,000. Determine Nancy's commission earned after selling a $625,000 house.
A) $5,500
B) $6,400
C) $9,750
D) $10,860
E) $11,925

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Q 72Q 72

Marilyn is paid a base salary of $1,500 per month and a commission of 6% on all sales over $75,000. Last month, Marilyn's gross salary was $4440. What were her sales for the month?
A) $49,000
B) $75,266.40
C) $149,000
D) $124,000
E) $100,000

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Q 73Q 73

Isaac earns a base salary of $1,250 per month and a graduated commission of 0.4% on the first $100,000 of sales, and 0.5% on sales over $100,000. Last month, Isaac's gross salary was $2025. What were his sales for the month?
A) $75,000
B) $200,000
C) $312,500
D) $250,000
E) $175,000

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Q 74Q 74

Ignoring the quantities sold, what was the average unit selling price for the three stores?
A) $0.33
B) $1.57
C) $155.10
D) $51.70
E) $1.70

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Q 75Q 75

Recognizing the quantities sold, what was the average selling price per unit?
A) $0.33
B) $1.57
C) $155.10
D) $51.70
E) $1.70

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Q 76Q 76

Below is a list of the weekly sales for a retail company. Monday $3,500.78
Tuesday $6,250.46
Wednesday $7468.33
Thursday $8,554.90
Friday $13,876.99
Saturday $22,897.43
Calculate the average sales for the week.
A) $5,357.98
B) $8,935.56
C) $10,424.82
D) $12,509.78
E) $62,548.89

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Q 77Q 77

Elita took six courses last semester. Her grades and course credits are as follows: Use the Letter Grade to Grade Point Value conversion table below to calculate her grade point average for the semester.
A) 2.8
B) 2.7
C) 3.3
D) 3.0
E) 3.5

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Q 78Q 78

Jayelle took six courses last semester. Her grades and course credits are as follows: Use the Letter Grade to Grade Point Value conversion table below to calculate her grade point average for the semester.
A) 3.75
B) 3.2
C) 3.0
D) 2.6
E) 2.8

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Q 79Q 79

Kuldip invested $5,000 at 6%, $10,000 at 5.5%, and $20,000 at 4%. What is the average rate of interest earned by her investments?
A) 5.2%
B) 5%
C) 4.7%
D) 5.25%
E) 4.75%

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Q 80Q 80

Carlos invested $10,000 at 7%, $20,000 at 6.5%, and $50,000 at 5%. What is the average rate of interest earned by his investments?
A) 6.2%
B) 5.5%
C) 5.8%
D) 5.6%
E) 6.3%

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Q 81Q 81

A customer has a first mortgage of $100,000 at 5.5% and a second mortgage of $50,000 at 7.8%. What is the average rate of mortgage that the customer pays?
A) 6.7%
B) 7%
C) 5.9%
D) 6.5%
E) 6.3%

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Q 82Q 82

A client has a first mortgage of $175,000 at 5.8% and a second mortgage of $25,000 at 6.7%. What is the average rate of mortgage that the client pays?
A) 5.9%
B) 6.3%
C) 6.5%
D) 6%
E) 6.2%

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Q 83Q 83

A class of 25 students wrote a term test. The results out of 30 marks are as follows: What was the average score on the test?
A) 20
B) 25
C) 22
D) 21.4
E) 17.5

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Q 84Q 84

An investor purchased shares of Acme Company as follows: 500 shares @ $10 per share, 10,000 shares @ $6.00 per share, and 1,000 shares at $4.00 per share. What is the investor's average cost per share?
A) $7.00
B) $6.00
C) $6.67
D) $23,000
E) $6.50

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Q 85Q 85

At the start of the year, Ajax Corporation had 300,000 shares outstanding. On May 1, 30,000 shares were issued. On September 1, another 50,000 shares were issued. Calculate the weighted average shares outstanding.
A) 336,667
B) 340,000
C) 346,667
D) 350,000
E) 367,667

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Q 86Q 86

At the start of the year, Sanford Corporation began the year with 750,000 in shares outstanding. On July 1, 60,000 shares were repurchased by the company, and another 40,000 shares were repurchased on December 1. Calculate the weighted average shares outstanding.
A) 706,000
B) 716,667
C) 726,667
D) 756,667
E) 806,667

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Q 87Q 87

A manufacturing operation began with 85 staff members. On April 1, 4 employees were hired; on June 1, 3 employees retired; and on November 1, another 3 employees were hired. Determine the average number of workers during the year.
A) 86.75
B) 88
C) 89.25
D) 91.25
E) 92.75

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Q 88Q 88

Sonal bought a coat for $172.37, which included 7% PST and 5% GST. What was the selling price of the coat?
A) $153.90
B) $193.05
C) $198.23
D) $196.50
E) $139.05

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Q 89Q 89

Sonal bought a new sound system for her car costing $616.31. Sonal lives in Calgary, and so the price included 5% GST. What was the selling price of the new sound system?
A) $647.13
B) $585.50
C) $586.96
D) $596.50
E) $627.87

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Q 90Q 90

Calculate the PST on a sweater costing $59.95 in Saskatchewan, Alberta, and Quebec. Use TABLE 1.2 as reference for the PST rates of the individual provinces.
A) $7.19; $3.00; $5.85
B) $3.00; $0.00; $5.85
C) $7.19; $0.00; $5.98
D) $3.00; $0.00; $5.98
E) $4.77; $0.00; $5.98

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Q 91Q 91

Calculate the PST on a jacket costing $89.50 in British Columbia, Manitoba, and Saskatchewan. Use TABLE 1.2 as reference for the PST rates of the individual provinces.
A) $6.27; $5.37; $7.16
B) $5.37; $7.16; $4.48
C) $5.37; $6.71; $7.16
D) $7.16; $6.71; $5.37
E) $6.27; $7.16; $4.48

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Q 92Q 92

A homeowner's tax statement lists the following mill rates for various municipal services: What is the property tax on a house assessed at $300,000?
A) $4,464
B) $4,449
C) $4,725
D) $2,562
E) $2,700

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Q 93Q 93

M Studios (Calgary) had retail sales of $166,465.25, including GST, for the last quarter. In the same period M Studios purchased $45,000 worth of supplies and paid $75,000 for store renovations, plus the GST on these goods and services. What GST must be remitted by M Studios (or refunded) for the last quarter?
A) $1,926.92
B) $2,323.26
C) $1,907.10
D) $6,396.35
E) $1,920.29

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Q 94Q 94

M Studios (Quebec) had retail sales of $293,635.25, including PST and GST, for the last quarter. In the same period M Studios purchased $250,000 worth of supplies and paid the GST on these goods. What GST must be remitted by M Studios (or refunded) for the last quarter?
A) $11,765.91
B) $269.53
C) $10,301.40
D) $451.50
E) $275.61

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Q 95Q 95

If the mill rate increases by 0.25 mills, what will be the dollar increase in property taxes on a house assessed at $380,000?
A) $950.00
B) $0.95
C) $9,500
D) $95.00
E) none of these

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Q 96Q 96

A homeowner's tax statement lists the following mill rates for various municipal services: The homeowner paid $3937.50 in property taxes last year. What is the assessed value of his property?
A) $264,617
B) $265,509
C) $461,066
D) $250,000
E) $437,500

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Q 97Q 97

A piece of property valued at $2,000,000 is assessed for property tax purposes at 70% of its value. If the property tax is $20.00 on each $1,000.00 of assessed value, what is the amount of tax?
A) $23,700.00
B) $4,000.00
C) $28,000.00
D) $12,000.00
E) $40,000.00

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Q 98Q 98

Calculate the price including both GST and PST, that an individual will pay for a car sold for $26,995.00 in Manitoba (GST = 5%, PST = 8%)
A) $31,044.25
B) $30504.35
C) $28,884.65
D) $30,906.30
E) none of these

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Q 100Q 100

If the total of all assessed values rises by 5% over the current assessment, at what value must next year's mill rate be set?
A) 8.6903
B) 8.2923
C) 7.9923
D) 9.7684
E) 8.3906

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Q 101Q 101

The city of Vancouver has $8.4 billion in assessed value of property. The city collected $51.66 million in revenues. The mill rate was 6.15.

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True False

Q 102Q 102

A car with a sticker price of $25,000 was purchased. With GST at 5% and PST at 7%, the final cost of the car was $28,000

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True False

Q 103Q 103

The final price of a LCD television was $2,016 that included 5% GST and 7% PST. The value of GST and PST were $90 and $126 respectively.

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True False

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True False

Q 105Q 105

A recent poll of 2,000 Canadian families showed that 1,200 had 3 computers in the house; 400 had 2 computers; 250 had 1 computer and the remaining families had no computer. Based on this poll, the average Canadian household has 2 computers.

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True False

Q 106Q 106

Trevor invested in Stocks, bond and mutual funds. His investment holdings consisted of twice as much bonds as stocks, and four times the amount of mutual funds as stocks. Last year stocks returned 4%, bonds 7% and mutual funds 2%. His average return for the year was 3.71%

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True False

Q 107Q 107

Last month, Inessa made 3 orders to replenish inventory. Her first order was for 400 units at $15.25; the second order was for 300 units for $16.50 and the last order was for 525 units at $17.80. The average price of the units is $16.40.

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Q 108Q 108

Mike has a credit card debt of $7,000 at a rate of 14%, a car loan of $10,000 at 8% and a $250,000 mortgage at a rate of 6.5%. His average interest rate is 6.9%

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True False

Q 109Q 109

At the start of the year, the marketing department of a large corporation was given a budget of $92,000 to spend. Actual spending amounted to $63,000 on advertising. Actual spending represents 87% of their budget.

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True False

Q 110Q 110

A book author receives a 3.25% royalty from textbook sales. If the author received $65,000 as royalties, then total sales from textbooks were $2,000,000.

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Q 124Q 124

How much more will a consumer pay for an item listed at $1,000 (pretax) in New Brunswick than in British Columbia?

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Q 126Q 126

The total assessed value of property in Brockton has risen by $97 million from last year's figure of $1.563 billion. The property tax rate last year for city services was $0.94181 per $100 of assessed value. If the city's budget has increased by $750,000, what tax rate should it set for the current year?

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Q 127Q 127

Jenna bought a car for $42,050.90, which included 8% PST and 5% GST. What was the selling price of the car?

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Q 128Q 128

To attract shoppers, retailers occasionally advertise something like "Pay no HST!" Needless to say, neither the federal nor the provincial government is willing to forego its sales tax. In this situation, the retailer must calculate and remit the HST as though the "ticket" price already includes these sales taxes. How much HST must a Newfoundland retailer report on a $629 item that he sells on a Pay-No-HST basis?

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Q 129Q 129

M Studios files GST returns quarterly. In the last quarter, M Studios sold picture frames totalling $3,750, photographic equipment for $78,225, and billed $43,580 for studio work. In the same time period, M Studios paid $2,000 for rent, $675 for utilities, and purchased goods subject to GST for $65,000. What GST must be remitted by M Studios (or refunded by the CCRA) for this quarter?

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Q 130Q 130

The town of Simcoe is considering raising the $2 billion required for a sports complex by approving a new capital levy component of the property tax. The levy must be collected over the next five years. If the total assessed value of property in the town is $875 billion, what additional tax will a home owner of a property assessed at $300,000 pay?

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Q 132Q 132

The following grades are from the first business mathematics test in the semester. What is the class average?

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Q 133Q 133

Bill is paid on a graduated commission scale of 1% on his first $200,000 in sales, 2% on the next $300,000, and 4% on all additional sales in a month. What is Bill's average commission rate on monthly sales totalling $600,000?

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Q 134Q 134

A survey of 254 randomly chosen residences in a city revealed that 4 had four flat screen television sets, 22 had three sets, 83 had two sets, 140 had one set, and 5 had no flat screen TV set at all. Based on the survey, what would you estimate to be the average number of flat screen TV sets per household?

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Q 135Q 135

The RBC Royal Bank offers an "add-on option" on fixed-rate mortgages. The option allows the customer to borrow additional funds partway through the term of the mortgage. The interest rate charged on the combined mortgage debt becomes the weighted average of the old rate on the former balance and the current competitive rate on new mortgage financing. Suppose Herschel and Julie had a mortgage balance of $37,500 at 8%, when they borrowed another $20,000 at 7%. What interest rate will they be charged by the RBC Royal Bank on the new consolidated balance?

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Q 137Q 137

The distribution of scores obtained by 30 students on a quiz marked out of 10 is listed below.
What was the average score on the test?

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Q 138Q 138

A restaurant owner set her menu prices at a defined percentage of her input costs for food, ingredients, and beverages. The prices as a percentage of these costs are 300% for appetizers, 200% for entrees, 225% for desserts, and 250% for beverages. The restaurant's revenue breaks down as follows: 10% from appetizers, 50% from entrees, 25% from beverages, and 15% from desserts. On average, what are menu prices as a percentage of the basic input costs? Overall, what are the input costs as a percentage of revenue?

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Q 139Q 139

Marcel must temporarily invest some extra funds in his retail business every fall to purchase inventory in preparation for the Christmas season. On September 1 he already had a total of $57,000 invested in his business. On October 1 he invested another $15,000, and on November 1 he injected $27,000. He was able to withdraw $23,000 on February 1, $13,000 on March 1, and $6,000 on May 1. What was the average cumulative investment in the business during the period from September 1 to August 31? (Assume that each month has the same length.)

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Q 140Q 140

When a company calculates its earnings per common share for its financial statements, it uses the weighted-average number of common shares outstanding during the year. Suppose Enertec Corp. began its fiscal year (January 1 to December 31) with 5 million shares outstanding. On March 1, it sold a new public offering of 1 million shares. On June 1, employees and officers exercised stock options resulting in the issue of 500,000 common shares. On November 1, another 750,000 shares were issued when holders of convertible bonds chose to exercise the conversion privilege. What was the average number of common shares outstanding during the year? (Assume that each month has the same length.)

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Q 141Q 141

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 7. It took on 6 more employees on September 1, hired another 18 on November 1, and added 23 more on December 1. Eleven employees were laid off on March 1, 20 were let go on April 1, and another 16 departed on May 1, leaving only the permanent maintenance personnel. What was the average number of employees per month working for Pine Valley during the fiscal year? (Assume that each month has the same length.)

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Q 142Q 142

Ms. Yong invested $16,800 in a Canadian equity mutual fund, $25,600 in a U.S. equity mutual fund, and $31,000 in a global fund that holds a variety of foreign securities. If in the subsequent 6 months, the value of the units in the Canadian fund dropped by 4.3%, the U.S. fund declined by 1.1%, and the global fund rose by 8.2%, what was the overall rate of return on Ms. Yong's mutual fund portfolio for the 6-month holding period?

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Q 143Q 143

Hillary sells cosmetics from her part-time home-based business. She receives a straight commission of 21% from her supplier. At the year-end, she also receives a 7% bonus on sales exceeding her annual quota of $50,000. What will her gross annual earnings be for a year in which her average monthly sales are $5,500?

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Q 144Q 144

Your regular workweek is 7.5 hours per day for five days. If you do not work on seven public holidays and you receive two weeks' vacation, what percentage of the total hours in a year are you actually at work? Assume that a year has exactly 52 weeks.

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Q 145Q 145

Jason's gross pay for August was $3,296.97 on sales totalling $151,342. If his base salary is $1,500 per month, what is his rate of commission on sales exceeding his monthly quota of $100,000?

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Q 146Q 146

Trevor earns a base monthly salary of $2,000 plus a commission of 3% on sales exceeding his monthly quota of $25,000. He receives a further 3% bonus on sales in excess of $50,000. What must his sales be in order to gross $4,000 per month?

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Q 147Q 147

Monica's net pay is 81% of her gross pay. Her net pay for two weeks is $1069.20. What is her gross pay for two weeks?

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Q 148Q 148

Jason earns $17.00 per hour for a forty-hour week. His overtime rate is 1 ½ times any hours exceeding forty in a week. What will Sam's gross earnings be for a week if he works 42.5 hours?

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Q 149Q 149

Larissa works in a retail store in Square One in Mississauga. She earns a base salary of $320 per week, and a commission of 3% on sales over her quota of $5,000. How much will Larissa earn if her sales for the week are: a) $4500? b) $8500?

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Q 150Q 150

Cliff is a sales manager for a convention centre. He is paid on a graduated commission scale of 0.5% on the first $200,000, 0.7% on the next $300,000, and 0.8% on all additional sales for the month. What are Cliff's gross earnings in a month in which he sells: a) $400,000? b) $700,000?

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Q 151Q 151

Mrs. Simone invested $10,000 at 5%, $15,000 at 4%, and $20,000 at 3%. Calculate Mrs. Simone's overall rate of return.

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Q 152Q 152

Marilyn's gross pay last month was $3,300.00. Her base salary is $3,000 per month, plus a commission of 2% on sales over $60,000. What were Marilyn's sales for last month?

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Q 154Q 154

Through a calculation (on Canadian Individual Tax Returns) known as the "Old Age Security clawback," an individual receiving Old Age Security (OAS) benefits must repay an increasing proportion of these benefits to the federal government as the individual's net income rises beyond a certain threshold. If the OAS clawback is 15% of net income exceeding $64,000, at what amount of net income must a taxpayer repay all $5,900 of OAS benefits received in the year?

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Q 155Q 155

A full-service broker charges a commission rate of 2.2% of the total dollar value of a stock transaction. A discount broker charges a transaction fee of $25 plus an additional five cents per share. Suppose you purchase 800 shares of Talisman Energy at $21.75 per share. What percentage of the commission fee charged by the full-service broker would you save by using the discount broker?

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Q 156Q 156

A province's progressive income tax rates are structured as follows: 6.70% tax on the first $35,000 of taxable income, 12.55% on the next $35,000, 13.75% on the next $400,000, and 14.65% on any additional taxable income. How much tax did a person pay earning an income for a year of $375,899.00?

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Q 157Q 157

In 2016, Canada's population was 34,100,000 and Japan's population was 127,400,000. Canada's land area is 9,093,500 square kilometres but Japan's area is only 377,835 square kilometres. To the nearest 0.01%, what percentage was Canada's population density (people per square kilometre) of Japan's population density in 2016?

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Q 158Q 158

Barbara's annual salary of $58,800 is paid weekly. She is paid at time and a half for any overtime beyond her regular workweek of 35 hours. What is her gross pay for a week in which she works 39 hours?

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Q 159Q 159

Ross's compensation is to be changed from an hourly rate of $15.75 for a 40-hour week to a salary paid semimonthly. What should he be paid semimonthly in order for his annual earnings to remain the same?

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Q 160Q 160

Melanie's regular hourly rate of pay is $17.70. She is paid time and a half for all work on weekends and for any time over 8.5 hours on weekdays. Calculate her gross earnings for a week in which she works 4.5, 0, 7, 8.5, 5, 6, and 9 hours on Saturday to Friday, respectively.

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Q 161Q 161

Breanne sews for a clothing manufacturer. She is paid $7.50 per hour plus a piece rate that depends on the type of garment in production. The current production run is men's shirts, for which she is paid $3.00 for each unit exceeding her quota of 20 shirts in an 8-hour shift. What will be her total pay for a regular workweek in which her output on successive days was 24, 26, 27, 28, and 30 shirts?

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Q 164Q 164

Jo-Anne and Kevin estimate their total cost for a vacation in Ireland to be $9850.
a) What percentage is this cost of their combined gross monthly income of $5850?
b) If 72% of their gross monthly income is already consumed by rent, taxes, car payments, and other regular living expenses, what percentage is the trip's cost of their remaining annual disposable income?

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Q 165Q 165

A provincial Minister of Education recently announced that his government's forecast expenditure of $32.4 billion on education next year represents 23.5% of the provincial budget. Rounded to the nearest million dollars, what is the province's total budget for the next year?

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Q 166Q 166

Unusually high snowfall in January caused the City of Calgary to exceed its January snow removal budget. In January, the city spent $32 million dollars, which represents 129.4% of its snow removal budget for the month. Rounded to the nearest $100,000, what amount did Calgary budget for January's snow clearance?

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Q 167Q 167

The Royal Canadian Mint sells one troy ounce (31.16 grams) platinum collector coins of 99.95% purity. How many milligrams of impurities are in a single coin?

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Q 169Q 169

The Calgary Flames hockey team announced that its season's ticket sales of 11,542 represents 67.50% of the Saddledome's seating capacity. Rounded to the nearest 100, how many seats were not sold to season's ticket holders?

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Q 170Q 170

Stan is a real estate salesperson. He receives 60% of the 4.8% commission that the real estate agency charges on sales. If his income for the past year was $150,480, what was his dollar volume of sales for the year?

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Q 171Q 171

In July, Canada's exports to the United States were $33.2 billion dollars, which were 98% of June'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 June.

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Q 191Q 191

Give three examples of values which have only two or three digits but nevertheless are known with perfect accuracy.

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Q 192Q 192

The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 193Q 193

The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 194Q 194

The following mixed number has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 195Q 195

The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 196Q 196The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 197Q 197

The following mixed number has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

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Q 198Q 198

The following fraction has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

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Q 199Q 199

The following fraction has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

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Q 200Q 200

The following fraction has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

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Q 201Q 201

Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures:

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Q 202Q 202

Convert the following mixed number to its decimal equivalent and percent equivalent values, rounded to five figures:

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Q 203Q 203

Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures:

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Q 205Q 205

Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures:

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Q 280Q 280

If you want four-figure accuracy in your answer, what minimum number of figures must be retained in the values used in the calculations?

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Q 281Q 281

If a final result of the order of five million dollars is to be accurate to the nearest dollar, how many figures must be maintained in the calculations?

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Q 282Q 282

If an interest rate (which could be greater than 10%) is to be calculated to the nearest 0.01%, what minimum number of digits must be retained in the numbers used to calculate the interest rate?

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Q 283Q 283The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 284Q 284The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 285Q 285The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 286Q 286The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 287Q 287

The following mixed number has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 288Q 288The following fraction has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 289Q 289

The following mixed number has a terminating decimal equivalent form. Express its decimal and percent equivalent forms to five-figure accuracy:

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Q 290Q 290The following fraction has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

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Q 291Q 291The following fraction has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

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Q 292Q 292

The following mixed number has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

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Q 293Q 293The following fraction has a repeating decimal equivalent form. Express the decimal and percent equivalent form in the repeating decimal notation. Show just the minimum number of decimal places needed to display the repeating digit or group of digits.

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Q 302Q 302Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures:

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Q 303Q 303Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures:

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Q 304Q 304Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures:

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Q 305Q 305Convert the following fraction to its decimal equivalent and percent equivalent values, rounded to five figures:

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Q 323Q 323

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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Q 325Q 325

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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Q 327Q 327

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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Q 329Q 329

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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Q 330Q 330

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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Q 331Q 331

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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Q 332Q 332

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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Q 333Q 333

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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Q 334Q 334

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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Q 335Q 335

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?

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Q 336Q 336

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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Q 337Q 337

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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Q 338Q 338

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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Q 339Q 339

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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Q 340Q 340

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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Q 341Q 341

Manfred is considering job offers of the same type of sales position from two retailers with similar product lines. Supreme Audio & Video is offering a base salary of $2,000 per month plus a 4% commission rate on sales. Buy-Right Electronics will pay him a base salary of $1,500 per month plus commission rates of 3% on the first $25,000 of sales and 6% on additional sales in a month. Based on past experience in sales positions, Manfred is confident he can attain average monthly sales of $55,000. At this level of sales, what would be his average gross earnings per month from each retailer?

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Q 342Q 342

Tom sells mutual funds on a graduated commission structure. He receives 3.3% on the first $50,000 of sales in a month, 4.4% on the next $50,000, and 5.5% on all further sales. What are his gross earnings for a month in which he sells $140,000 worth of mutual funds?

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Q 343Q 343

Karen works in a retail computer store. She receives a weekly base salary of $300 plus a commission of 3% of sales exceeding her quota of $20,000 per week. What were her sales for a week in which she earned $630.38?

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Q 344Q 344

Daniella's gross monthly earnings are based on commission rates of 4% of the first $40,000 of sales, 5% of the next $50,000, and 6% of all additional sales for the month. What was her sales total for a month in which she earns $5,350?

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Q 345Q 345

An investor accumulated 1800 shares of Microtel Corporation over a period of several months. She bought 1,000 shares at $15.63, 500 shares at $19.00, and 300 shares at $21.75. What was her average cost per share? (Note: Investors who purchase shares in the same company at more than one price must eventually do this calculation. Tax rules require that the capital gain or loss on the sale of any of the shares be calculated using the weighted-average price paid for all of the shares rather than the particular price paid for the shares actually sold.)

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Q 346Q 346

A hockey goalie's "goals against average" (GAA) is the average number of goals scored against him per (complete) game. In his first 20 games in goal, O. U. Sieve had one shutout, two 1-goal games, three 2-goal games, four 3-goal games, seven 4-goal games, two 6-goal games, and one 10-goal disaster. Calculate his GAA.

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Q 347Q 347

Alihan's transcript shows the following academic record for four semesters of part-time college studies. Calculate his cumulative GPA at the end of his fourth semester.

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Q 348Q 348

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 cumulative investment during the year? (Assume that each month has the same length.)

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Q 349Q 349

Istvan earns an annual salary of $61,000 as an executive with a provincial utility. He is paid biweekly. During a strike, he worked 33 hours more than the regular 75 hours for a two-week pay period. What was his gross pay for that period if the company agreed to pay 1.5 times his equivalent hourly rate for overtime? (Assume that a year has exactly 52 weeks.)

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Q 350Q 350

Sonja is paid $42.50 per hour as a veterinarian. She is paid 1½ times the regular rate for all time exceeding 7½ hours in a day or 37½ hours per week. Work on a statutory holiday is paid at double time. What were her gross earnings for a week in which she worked 6, 0, 3, 7½, 9, 7½, and 8 hours on Saturday to Friday, respectively, and the Monday was a statutory holiday?

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Q 351Q 351

An account receivable is an outstanding debt owed to a business by a customer. The "age" of an account receivable is the length of time that it has been outstanding. At the end of October, a firm has $12,570 in receivables that are 30 days "old," $6,850 that are 60 days "old," and $1,325 that are 90 days "old." What is the average "age" of its accounts receivable at the end of October?

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Q 353Q 353

How must you allocate your money among a number of investments so that your portfolio's overall rate of return will be the same as the simple average of the rates of return on individual investments?

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Q 354Q 354

One year ago, Ming allocated the funds in her portfolio among five securities in the proportions listed below. The rate of (total) return on each security for the year is given in the third column of the table.

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Q 355Q 355

One of the methods permitted by Generally Accepted Accounting Principles for reporting the value of a firm's inventory is weighted-average inventory pricing. The Boswell Corporation began its fiscal year with an inventory of 156 units valued at $10.55 per unit. During the year it made the purchases listed in the following table.

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Q 356Q 356

Suppose a group of consumers spends 30% of its disposable income on food, 20% on clothing, and 50% on rent. If over the course of a year the price of food rose 10%, the price of clothing dropped 5%, and rent rose 15%, what was the average price increase experienced by these consumers?

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Q 357Q 357

Marion receives a monthly base salary of $1,000. On the first $10,000 of sales above her monthly quota of $20,000, she is paid a commission of 8%. On any additional sales, the commission rate is 10%. What were her gross earnings for the month of August, in which she had sales amounting to $38,670?

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Q 358Q 358

The balance on Nucorp's revolving loan began the month at $35,000. On the eighth of the month another $10,000 was borrowed. Nucorp was able to repay $20,000 on the 25

^{th}of the 31-day month. What was the average balance on the loan during the month? (Use each day's closing balance as the loan balance for the day.)Free

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Q 359Q 359

A seasonal manufacturing operation began the calendar year with 14 employees. It added seven on April 1, eight on May 1, and eleven more on June 1. Six were laid off on September 1 and another 14 were let go on October 1. What was the average number of employees on the payroll during the calendar year? (Assume that each month has the same length.)

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Q 360Q 360

Lauren's gross pay for July was $3188.35 on net sales totalling $88,630. If her base salary is $1,000 per month, what is her rate of commission on sales exceeding her monthly quota of $40,000?

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Q 361Q 361

Johnston Distributing, Inc. files quarterly GST returns. The purchases on which it paid the GST and the sales on which it collected the GST for the last four quarters were as follows:

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Q 362Q 362

Sawchuk's Home and Garden Centre files monthly HST returns. The purchases on which it paid the HST and the sales on which it collected the HST for the last four months were as follows:

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Q 363Q 363

a) To the nearest whole percent, what percentage is the HST of an HST-inclusive price in New Brunswick?
b) The total price including HST of an item is $171.35. What is the amount of HST included in the price?

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Q 364Q 364

The assessment on a farm consists of $143,000 for the house and $467,000 for the land and buildings. A mill rate of 15.0294 applies to residences, and a rate of 4.6423 applies to agricultural land and buildings. What are the total property taxes payable on the farm?

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Q 365Q 365

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.

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