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QRB 501 Final Exam

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QRB 501 Final Exam (52 Questions and Answers)

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. Fill out the ground frequency distribution.

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. 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.

18. A sofa cost $388 and sells for $659.60, which is 170% of the cost.

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.

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.

34. Cost = $80; Selling price = $200.

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.

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 ____.

QRB 501 Final Exam (52 Questions and Answers) 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% = _____
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