Page 34 - Mathematics of Business and Finance

14 Chapter 1 | Review of Basic Arithmetic

16. Round the values to the indicated place values:
Number/Amount Nearest tenth Nearest hundredth Nearest thousandth Nearest ten thousandth
227.96559
94.84975
$96.57907
$19.65251
For Problems 17 to 20, round the percents to (i) the nearest whole percent (without decimals), (ii) the nearest percent with one
decimal place, and (iii) the nearest percent with two decimal places:
17. a. 56.596% b. 140.265% 18. a. 5.567% b. 29.875%

19. a. 8.955% b. 19.555% 20. a. 75.253% b. 115.796%
21. Round the following amounts to the nearest five cents:
a. $49.99 b. $77.04 c. $10.41 d. $60.47

22. Round the following amounts to the nearest five cents:
a. $23.72 b. $45.08 c. $39.98 d. $17.37
23. A prepaid phone card to make calls to China for 1 hour costs $2.50. Calculate the cost per minute rounded to the
nearest cent.
24. A prepaid phone card to make calls to Singapore for 3 hours costs $5. Calculate the cost per minute rounded to the
nearest cent.
ESTIMATION
For Problems 25 to 32, (i) estimate the values by first rounding the numbers to the nearest ten and (ii) calculate the exact
answer. Express answers rounded to two decimal places, wherever applicable.
25. a. 357 + 245 b. 451 + 625 c. 3255 + 2105 26. a. 745 + 1045 b. 428 + 255 c. 326 + 1555
27. a. 495 – 357 b. 868 – 745 c. 1858 – 255 28. a. 2449 – 2255 b. 946 – 452 c. 855 – 251

29. a. 63 × 59 b. 35 × 97 c. 246 × 45 30. a. 58 × 75 b. 472 × 48 c. 95 × 71

31. a. 78 ÷ 19 b. 245 ÷ 45 c. 38 ÷ 8 32. a. 85 ÷ 9 b. 396 ÷ 24 c. 145 ÷ 26
33. Estimate the values in Problems 25 and 27 by first rounding the numbers to the nearest hundred.

34. Estimate the values in Problems 26 and 28 by first rounding the numbers to the nearest hundred.
35. Amy invested 4.20% of her savings in bonds, 32.65% in stocks, 25.55% in mutual funds, and the balance in her
brother's business. By rounding the given percents to the nearest percent without decimals, estimate the percent that
Amy invested in her brother's business.

36. 55.25% of the employees of a large software company are engineers, 35.40% are project managers and team leads,
2.40% are senior managers, and the rest are administrative staff. By rounding the given percents to the nearest
percent without decimals, estimate the percent of employees that are administrative staff.
For Problems 37 to 42, estimate the values by first rounding the numbers to the nearest ten.
37. How long will it take to travel 904 km at 63 km per hour?
38. Girija wants to save $6300. If she saves $205 per month, how many months will it take her to achieve her goal?

39. The regular selling price of an item is $457.50. If the item is discounted by $70, what is the reduced price of the item?
40. An item costs $176.92. If you give $200 to the cashier, how much will you receive back as your balance?

41. Mythili bought a TV and agreed to pay $175.75 every month for ten months. A few months later, the TV went on sale
for $1699.99. How much more money than the sale price did she have to pay for the TV?

42. Chandler leased a car on a 30-month term at $475.75 per month. At the end of the lease period, he paid an additional
$12,578.90 to purchase the car. Determine the total amount Chandler paid for the car.