Page 74 - Mathematics of Business and Finance

54 Chapter 1 | Review of Basic Arithmetic

1 Self-Test Exercises

Answers to all the problems are available at the end of the textbook.

9. Evaluate the following and round the final answer to
1. Paulo earns $37.56 per hour. Last week he worked two decimal places:
32.50 hours. Calculate his weekly pay rounded to the
2
nearest cent. a. 4 21 × e 5 5 2
# `j o
2. Estimate by rounding each number to the nearest 25 3 3
thousand: b. 13 × 5 + 6 ÷ 4 + 7 1
4
3
66,541 + 7891 + 19,725 – 13,978 – 2495 7 94 5 15 5
3. Round the following amounts to the nearest five cents: 9 4 3 2
49
a. $60.41 b. $70.97 c. 50 e 81 + 1 o + e 1 o
5
9
c. $5.59 d. $28.48
10. The average sales that a business made were $42,525
4. Determine the least common multiple (LCM) of the for the first three months and $37,775 for the next nine
following: months of the year. Calculate the average sales for the
a. 18, 24 b. 4, 10, 16 c. 18, 36, 64 entire year.

5. Determine the greatest common factor (GCF) of the 11. Julian received the following marks on his first three
following: math tests: 85%, 94%, and 89%. What mark must he
a. 16, 20 b. 14, 35, 70 c. 24, 36, 48 receive on his fourth test to have an average of exactly

1
3
6. Three software developers worked 37 hours, 22 90% on the four tests?
2
4
1
hours, and 31 hours, respectively, to develop an 12. Calculate the geometric mean for the following data sets:
4
online course. If they were each paid $20 per hour, how a. 16, 81 b. 1 1 1
, ,
much did they receive in total? 4 6 8
13. Navi invested in 250 shares of Company A at $15 per
7. Evaluate the following: share, 300 shares of Company B at $25 per share, and
3
2
a. 4(8 × 3 – 4 ) ÷ (10 + 2 × 3) 150 shares of Company C at $35 per share. Calculate
2
b. 100 ÷ (2 + 3) – 3 ÷ 3 the weighted average price per share.
2
8. Evaluate the following and round the final answer to
two decimal places: 14. Two flashing lights are turned on at the same time.
One light flashes every 12 seconds and the other
a. 1500[1 – (1.02) –60 ] flashes every 15 seconds. How often will they flash
0.02 together?
0.09 2 0.06 3
b. 2500d1 + n d1 + n 15. If the growth rate of an investment for the past four
4 2
years was 10%, 14%, 17%, and 18%, calculate the
average annual growth rate using the geometric mean.