Question 1

$8 \frac{7}{9} \%$ of $13,500 is $1,185

Accepted Answer

$8 \frac{7}{9} \%$ of $13,500 is $1,185 because $$8 \frac{7}{9} \% \text{ of } 13,500 = \frac{87}{900} \times 13,500 = 1,185$$

Question 2

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.

Accepted Answer

The average number of computers per household is calculated by dividing the total number of computers by the total number of households. According to the poll: (1200*3 + 400*2 + 250*1 + 150*0) / 2000 = 4300 / 2000 = 2.15. Therefore, the average is 2.15 computers per household, not 2.

Question 3

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.

Accepted Answer

Actual spending of $63,000 represents approximately 68.48% of their budget, not 87%. Calculation: ($63,000 / $92,000) * 100 = 68.48%.

Question 4

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.

Accepted Answer

To find the average price of the units, you need to calculate the total cost of all units and divide by the total number of units. The total cost is (400 * $15.25) + (300 * $16.50) + (525 * $17.80) = $6,100 + $4,950 + $9,345 = $20,395. The total number of units is 400 + 300 + 525 = 1,225. The average price per unit is $20,395 / 1,225 = $16.65, not $16.40.

Question 5

The fraction $\frac{25}{10.000}$ converted to percentage form is .25%

Accepted Answer

The fraction $\frac{25}{10.000}$ can be written as 0.0025, which is equal to 0.25%.

Question 6

The value of $\frac{1}{80}$ is .135

Accepted Answer

The value of $\frac{1}{80}$ is 0.0125, not .135.

Question 7

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%

Accepted Answer

The average return is calculated by weighing each investment's return by its proportion in the total investment. Given the proportions and returns, the average return is indeed 3.71%.

Question 8

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%

Accepted Answer

The average interest rate is not simply the average of the three rates because it does not account for the different loan amounts. The weighted average interest rate should be calculated based on the proportion of each debt to the total debt.

Question 9

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.

Accepted Answer

The mill rate is calculated by dividing the total property tax revenue by the total assessed value of property. In this case, the mill rate is 51.66 million / 8.4 billion = 6.15.

Question 10

The value of $\frac{7}{9}$ converted to four decimal places is 0.7778

Accepted Answer

The value of $\frac{7}{9}$ is 0.777777... (repeating). When rounded to four decimal places, it becomes 0.7778.

Question 11

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.

Accepted Answer

The given values of GST and PST add up to $216, which is equal to the difference between the final price and the original price of the television.

Question 12

Property taxes on land assessed at $750,000 and a mill rate of 1.1857 is $1,028.55

Accepted Answer

The property tax is calculated by multiplying the assessed value of the property by the mill rate and then dividing by 1,000. So, for a property assessed at $750,000 and a mill rate of 1.1857, the calculation would be ($750,000 * 1.1857) / 1,000 = $889.275 or $889.28 when rounded to the nearest cent, not $1,028.55.

Question 13

The value of 4(12 - 3)³ - 4(20 - 33)² is 2,240

Accepted Answer

4(12 - 3)³ - 4(20 - 33)² = 4(9)³ - 4(-13)² = 4(729) - 4(169) = 2916 - 676 = 2240

Question 14

The fraction $\frac{.0875}{1.5}$ converted to percentage form is 5.833%

Accepted Answer

To convert the fraction $\frac{.0875}{1.5}$ to a percentage, you divide .0875 by 1.5, which equals .05833, and then multiply by 100 to convert to a percentage, resulting in 5.833%.

Question 15

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.

Accepted Answer

To find the total sales, divide the royalties by the royalty rate: $65,000 / 0.0325 = $2,000,000.

Question 16

15 is .7% of 2,142.86

Accepted Answer

To find what percent 15 is of 2,142.86, you divide 15 by 2,142.86 and multiply by 100. Doing the math: (15 / 2,142.86) * 100 = 0.7%.

Question 17

Converting .65785 to percentage form is 657.85%

Accepted Answer

To convert a decimal to a percentage, multiply by 100. Thus, .65785 becomes 65.785%.

Question 18

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

Accepted Answer

The total tax on the car is 5% GST + 7% PST = 12%. So, the final cost of the car should be $25,000 * 1.12 = $28,000.

Question 19

24 is 80% of 40

Accepted Answer

24 is 60% of 40, because 40 * 0.60 = 24.

Question 20

The value of (6 × 3 - 4)³ ¸ (7 + 8 ¸ 2²) is 304.89

Accepted Answer

(6 × 3 - 4)³ = (14)³ = 2744(7 + 8 ¸ 2²) = (7 + 8 ¸ 4) = (7 + 2) = 92744 ¸ 9 = 304.89

Quiz 1: Review and Applications of Basic Mathematics

879%8 \frac{7}{9} \%897​% of $13,500 is $1,185