Expert answer:Multiple Choice Question/Solve Problem
Answer & Explanation:Multiple Choice Question/Solve Problem 1-25 Math(Answer Only)wk8
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QUESTION 1
1.
Choose the one alternative that best completes the statement or answers the question. Find the ending
balance in the account register.
$4271.87
$4664.14
$3803.25
$5118.87
QUESTION 2
1.
Choose the one alternative that best completes the statement or answers the question. Find the ending
balance in the account register.
$1296.56
$2590.32
$1583.07
$2012.04
QUESTION 3
1.
Reconcile the bank statement with the check register balance. Find the current balance.
$601.87
$596.00
$1193.94
$590.13
QUESTION 4
1.
Reconcile the bank statement with the check register balance. Find the current balance.
$2374.39
$2375.44
$2373.34
$2394.64
QUESTION 5
Solve the problem.
Find the trade discount on a bicycle that lists for $80.95 if a discount rate of 15% is offered. Round to the nearest
cent.
$11.64
$12.14
$68.81
$68.31
QUESTION 6
Solve the problem.
Find the net price of a bicycle that lists for $82.95 if a discount rate of 15% is offered. Round to the nearest
cent.
$70.51
$12.69
$12.44
$70.76
QUESTION 7
Solve the problem.
Calculate the trade discount for 3 chairs if the unit price is $39 and a single trade discount of 6.25% is allowed. Round
to the nearest cent.
$73.13
$7.31
$41.44
$2.44
QUESTION 8
Solve the problem. Round to the nearest cent.
The list price of a keyboard is $788. If the trade discount series offered is 10/30/20, find the net price by using the net
decimal equivalent.
$315.20
$472.80
$397.15
$390.85
QUESTION 9
Solve the problem. Round to the nearest cent.
The list price of a car is $8760. It is available at either a 10/20/5 or a 35/30 trade discount series. Which trade
discount series gives the better deal? By how much?
10/20/5, $2006.04
10/20/5, $2628.00
35/30, $2628.00
35/30, $2006.04
QUESTION 10
Solve the problem. Round to the nearest cent or tenth of a percent.
Original price $1489.00; markdown $163.79. Find the reduced price and the rate of the markdown.
•
•
Reduced (new) price = $163.79
Rate of markdown = 89%
•
•
Reduced (new) price = $1652.79
Rate of markdown = 11%
•
•
Reduced (new) price = $1325.21
Rate of markdown = 89%
•
•
Reduced (new) price = $1325.21
Rate of markdown = 11%
QUESTION 11
Solve the problem. Round to the nearest cent or tenth of a percent.
Reduced price = $22.21; markdown rate = 35%. Find the original price and the markdown amount.
•
•
Original price = $14.44
Markdown amount = $7.77
•
•
Original price = $34.17
Markdown amount = $11.96
•
•
Original price = $10.25
Markdown amount = $11.96
•
•
Original price = $29.99
Markdown amount = $7.77
QUESTION 12
Solve the problem. Round to the nearest cent or tenth of a percent.
An item sells for $524.00 and is reduced to sell for $440.16. Find the markdown amount and the rate of markdown.
•
•
Markdown amount = $83.84
Rate of markdown = 16%
•
•
Markdown amount = $83.84
Rate of markdown = 84%
•
•
Markdown amount = $70.43
Rate of markdown = 16%
•
•
Markdown amount = $369.73
Rate of markdown = 84%
QUESTION 13
Solve the problem.
Down below
Ann Preston is married, has a gross weekly salary of $543.74 (all of which is taxable), and the number of withholding
allowances she claims is 1. Use the tax tables to find the federal tax withholding to be deducted from her weekly
salary.
$32
$33
$31
$30
QUESTION 14
Solve the problem.
Mai earns a gross weekly income of $464.00. How much Social Security tax should be withheld the first week of the
year? How much Medicare tax should be withheld? Assume a 4.2% FICA rate and a 1.45% Medicare rate. Round to
the nearest cent.
•
•
Social Security tax = $1.95
Medicare tax = $0.67
•
•
Social Security tax = $20.49
Medicare tax = $7.73
•
•
Social Security tax = $194.90
Medicare tax = $67.28
•
•
Social Security tax = $19.49
Medicare tax = $6.73
QUESTION 15
Solve the problem.
Find the interest paid on a loan of $2000 for 1 year at a simple interest rate of 7% per year.
$2140.00
$160.00
$140.00
$14.00
QUESTION 16
Solve the problem.
Find the interest paid on a loan of $3946 for 5 months at a simple interest rate of 12% per year.
$198.96
$157.84
$236.76
$197.30
QUESTION 17
Solve the problem.
How much interest will have to be paid on a loan of $10,138 for 7 months at a simple interest rate of 13.3% per year?
$793.15
$898.90
$674.18
$786.54
QUESTION 18
Solve the problem.
Find the installment price of a table bought on the installment plan with a down payment of $30 and 6 payments of
$51.12.
$336.72
$30
$306.72
$366.72
QUESTION 19
Solve the problem.
Find the amount financed on a TV with a cash price $430.00 and a down payment of $86.00.
$86.00
$429.80
$344.00
$430.00
QUESTION 20
Solve the problem.
Find the amount financed if a $25 down payment is made on a camera with a cash price of $260.
$260
$235
$315.86
$25
QUESTION 21
Use the table to find the future value. Round to the nearest cent.
DOWN BELOW
$15,000 at 1% compounded annually for 3 years
$15,301.50
$15,454.50
$15,450.00
$15,300.00
QUESTION 22
Choose the one alternative that best completes the statement or answers the question. Solve the problem.
For the month ending June 30, TriCounty Nursery has net sales of $251,000, cost of goods sold of $99,000, and
operating expenses of $70,000. Find the gross profit and net income.
gross profit: $82,000; net income:
$152,000
gross profit: $152,000; net income:
$82,000
gross profit: $152,000; net income:
$29,000
gross profit: $72,100; net income: $29,000
QUESTION 23
Find the sales tax and total sale. Round to the nearest
cent.
Item Marked
Price
Sales Tax Rate
$28.83
6%
$1.44;
$30.27
$1.73;
$30.56
$17.30;
$46.13
$2.02;
$30.85
QUESTION 24
Find the sales tax and total sale. Round to the nearest cent.
Item
Marked
Price
Sales Tax Rate
$978.08
6%
$48.90;
$1026.98
$68.47;
$1046.55
$586.80;
$1564.88
$58.68;
$1036.76
QUESTION 25
Write the word or phrase that best completes each statement or answers the question. Solve the
problem. Round dollar amounts to the nearest dollar
.
Use the straight-line method to complete the depreciation table for a combine harvester that costs
$4300, has a salvage value of $300 and has an estimated life of 5 years.
-END-
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