Business Mathematics in Canada 9th Edition By Jerome – Test Bank

 

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Sample Test

Chapter 03

Ratios and Proportions

 

 

 

Multiple Choice Questions

 

1.   Express the ratio 0.25 : 1.40 : 8.50 in its lowest terms

2.   1 : 5.6 : 34

3.   5 : 14 : 85

4.   5 : 28 : 170

5.   2 : 28 : 170

6.   2 : 14 : 85

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

2.   In 1999, Acme Company’s total overhead of $685,000 was allocated as follows: 18% to division A, 42% to division B, and the remainder to division C. What is the ratio of the overhead in division A to the overhead in division B to the overhead in division C, in lowest terms?

3.   18 : 42 : 40

4.   9 : 21 : 20

5.   3 : 7 : 6

6.   10 : 23 : 22

7.   18 : 42 : 50

 

 

Difficulty: Medium

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

3.   Solve the proportion:

4.   15

5.   5

6.   10

7.   6

8.   12

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

4.   Solve the proportion:

5.   40

6.   44

7.   8

8.   6

9.   24

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

5.   Solve the proportion:

6.    

7.    

8.    

9.    

10.                 

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

 

6.   Solve the proportion:

7.    

8.    

9.    

10.                 

11.                 

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

7.   Nitin and Sam have invested in a partnership in the ratio of 3 : 5. If Sam adds another $10,000 to the business, how much should Nitin invest in order to maintain the same ratio?

8.   $10,000

9.   $3,000

10.                $5,000

11.                $6,000

12.                $12,000

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

8.   Kuldip and Jane invested $35,000 and $55,000 respectively in a partnership. Kuldip added another $20,000 and Jane wants to add enough to maintain their investments in the original ratio. How much should Jane invest in order to maintain the same ratio?

9.   $12,727

10.                $30,000

11.                $35,000

12.                $31,429

13.                $25,000

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

 

9.   A college allows parking permits for students in the ratio of 5.5 students to a parking permit. The college currently has 11,000 students. The student council did a survey and found that the ratio should be 4 : 1. The college has agreed to add the extra parking spaces. How many more spaces are required to meet the 4 : 1 ratio?

10.                2750

11.                2200

12.                1250

13.                1150

14.                750

 

 

Difficulty: Medium

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

10.                A punch recipe calls for orange juice, ginger ale, and vodka to be mixed in the ratio of 4.5 : 2.5 : 1. How much orange juice and vodka should be mixed with a 2-litre bottle of ginger ale?

11.                3.6 litres of orange juice and 0.8 litres of vodka

12.                3.5 litres of orange juice and 0.75 litres of vodka

13.                6 litres of orange juice and 1.25 litres of vodka

14.                5 litres of orange juice and 1.1 litres of vodka

15.                4.1 litres of orange juice and 0.9 litres of vodka

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

11.                Mr. Malik is considering a larger house in the same area. Currently the taxes on his $250,000 home amount to $3000 per year. If he expects the taxes on other homes in the area to be in the same ratio as the assessed values, what tax amount will Mr. Malik pay on a house assessed at $300,000?

12.                $3200

13.                $3600

14.                $3500

15.                $3000

16.                $4000

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

 

12.                Based on past experience, a production process requires 15 hours of direct labour and 2 assemblers for every $450 of raw materials. If the company has budgeted for $33,750 worth of raw materials, how many hours of direct labour and how many assemblers will the company require?

13.                112.5 hours of direct labour and 15 assemblers

14.                2250 hours of direct labour and 300 assemblers

15.                1125 hours of direct labour and 150 assemblers

16.                112.5 hours of direct labour and 150 assemblers

17.                1125 hours of direct labour and 300 assemblers

 

 

Difficulty: Medium

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

13.                A gym club membership costs $499 for two years. A member may cancel at any time and a refund less a $75 administration fee will be issued. The notice of cancellation must be received by the 15th of the month in order for the cancellation to be effective for the following month. Najib purchased a membership on March 1st last year, and decided to cancel it on June 10th of this year. How much of a refund will Najib receive?

14.                $166.33

15.                $332.67

16.                $257.55

17.                $91.33

18.                $112.13

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

 

14.                Aaron, Luc, and Isaac invested in a business in the ratio of 3.5 : 5 : 7.5. The factory that they leased requires renovations of $125,000. If the partners want to maintain their investments in the business in the same ratio, how much should each partner pay for the renovations?

15.                Aaron: $58,593.75

Luc: $27,343.75

Isaac: $39,062.50

1.   Aaron: $35,000

Luc: $50,000

Isaac: $75,000

1.   Aaron: $20,000

Luc: $40,000

Isaac: $60,000

343.             Aaron: $27,343.75

Luc: $58,593.75

Isaac: $39,062.50

343.             Aaron: $27,343.75

Luc: $39,062.50

Isaac: $58,593.75

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

 

15.                Sam, Domenic, and Sal invested $100,000, $150,000, and $75,000, respectively, in a business. The profits from last year were $80,000. What will be the profit share of each partner?

16.                Sam: $24,615.38

Domenic: $36,923.08

Sal: $18,461.54

1.   Sam: $25,000

Domenic: $35,000

Sal: $10,000

1.   Sam: $20,000

Domenic: $35,000

Sal: $15,000

615.             Sam: $24,615.38

Domenic: $18,461.54

Sal: $36,923.08

923.             Sam: $36,923.08

Domenic: $18,461.54

Sal: $24,615.38

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

16.                Sam, Domenic, and Sal invested $100,000, $125,000, and $150,000, respectively, in a business. In order to expand, a further investment was required. Sal invested $200,000. If the other partners agreed to provide capital in the same ratio as the initial investment, how much did Sam and Domenic invest? Round to the nearest dollar.

17.                Sam: $166,667

Domenic: $133,333

1.   Sam: $133,333

Domenic: $166,667

1.   Sam: $150,000

Domenic: $175,000

1.   Sam: $175,000 Domenic: $150,000

2.   Sam: $133,333

Domenic: $150,000

 

 

Difficulty: Medium

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

 

17.                Sam, Domenic, and Sal invested $200,000, $125,000, and $150,000, respectively, in a business. In order to expand, a further investment was required. Sal invested $200,000. If the other partners agreed to provide capital in the same ratio as the initial investment, how much did Sam and Domenic invest? Round to the nearest dollar.

18.                Sam: $166,667

Domenic: $266,667

1.   Sam: $250,000

Domenic: $175,000

1.   Sam: $266,667

Domenic: $166,667

1.   Sam: $175,000

Domenic: $250,000

1.   Sam: $266,667

Domenic: $250,000

 

 

Difficulty: Medium

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

18.                Susan, Lynda, and Monica opened a consignment dress shop. The partnership agreement states that the responsibilities for the provision of capital are in the ratio of 2.5 : 3.75 : 4.5. If the total investment in the business was $365,500, how much did each partner invest?

19.                Susan: $153,000

Lynda: $85,000

Monica: $127,500

1.   Susan: $175,000

Lynda: $150,000

Monica: $40,500

1.   Susan: $150,000

Lynda: $175,000 Monica: $40,500

1.   Susan: $85,000

Lynda: $127,500

Monica: $153,000

1.   Susan: $210,000

Lynda: $115,000

Monica: $35,500

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

 

19.                Jane, Lynda, and Ginny run a consignment dress store. The partnership agreement states that the profits are distributed according to the hours each works in the store. For the month of July, profits are $8500. The hours worked by Jane, Lynda, and Ginny are 170, 190, and 200, respectively. How should the month’s profits be allocated?

20.                Jane: $2000

Lynda: $3000

Ginny: $3000

1.   Jane: $3000

Lynda: $3000

Ginny: $2000

2883.         Jane: $2883.93

Lynda: $2580.36

Ginny: $3035.71

3035.         Jane: $3035.71

Lynda: $2883.93

Ginny: $2580.36

2580.         Jane: $2580.36

Lynda: $2883.93

Ginny: $3035.71

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

20.                The current exchange rates show that C$1.00 = US$0.9736. If you have $120 Canadian dollars, what is the equivalent amount in US dollars?

21.                US$116.83

22.                US$123.25

23.                US$109.40

24.                US$92.15

25.                US$120

 

 

Difficulty: Easy

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

 

21.                The current exchange rates show that C$1.00 = €0.7441. If you have $200 Canadian dollars, what is the equivalent amount in euros?

22.                €268.78

23.                €148.82

24.                €136.50

25.                €200

26.                €150.70

 

 

Difficulty: Easy

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

22.                The current exchange rates show that C$1.00 = US$0.9736. If you have $500 Canadian dollars to exchange and the currency exchange store charges 2% on all transactions, how many US dollars will you be able to buy?

23.                US$513.56

24.                US$486.80

25.                US$477.06

26.                US$503.29

27.                US$496.54

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

23.                The current exchange rates show that C$1.00 = €0.7441. If you have $1000 Canadian dollars to exchange and the currency exchange charges 4% on all transactions, how many euros will you be able to buy?

24.                €744.10

25.                €773.86

26.                €1343.91

27.                €714.34

28.                €1290.15

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

 

24.                The current exchange rates show that US$1.00 = C$1.0271. If you have $375 US dollars, what is the equivalent amount in Canadian dollars?

25.                C$365.18

26.                C$407.60

27.                C$375

28.                C$315.76

29.                C$385.16

 

 

Difficulty: Easy

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

25.                The current exchange rates show that US$1.00 = €0.7643. If you have $600 US dollars, what is the equivalent amount in euros?

26.                €458.58

27.                €785.03

28.                €746.83

29.                €750

30.                €600

 

 

Difficulty: Easy

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

26.                The current exchange rates show that US$1.00 = €0.7643. If you have $450 US dollars to exchange and the currency exchange charges 2.5% on all transactions, how many euros will you be able to buy?

27.                €343.94

28.                €335.34

29.                €602.55

30.                €587.49

31.                €450

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

 

27.                The current exchange rates show that C$1.00 = £0.6350. If you have C$250, what is the equivalent amount in British pounds?

28.                £393.08

29.                £105

30.                £158.75

31.                £430.97

32.                £250

 

 

Difficulty: Easy

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

28.                A hamburger in Canada costs C$7.00, and the same hamburger costs €5.50 in France. What percentage more is the cost of a hamburger in € in France? Use the French price as the base in the comparison. (C$1.00 = €0.7441)

29.                21.43%

30.                4.74%

31.                6.64%

32.                5.30%

33.                27.0%

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

29.                A litre of gas costs €1.42 in France. What would be the equivalent cost in Canada? Use C$1.00 = €0.7441 as the exchange rate.

30.                C$1.06

31.                C$1.56

32.                C$0.85

33.                C$1.7441

34.                C$1.91

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

 

30.                How much will it cost in C$ to buy €2000 in traveller’s cheques if the exchange rate is C$1.00 = €0.7441, and the financial institution charges a fee of 0.5%?

31.                C$2701.25

32.                C$2687.81

33.                C$2822.20

34.                C$1488.20

35.                C$11,495.64

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

31.                You can buy euros at a currency exchange store or at the airport. If you want to buy €250, would it be better to pay a 1% transaction fee or a flat service charge of $10.00? Use C$1.00 = €0.7441 as the exchange rate.

32.                1% transaction fee more expensive by C$6.64

33.                1% transaction fee less expensive by C$6.64

34.                flat service charge less expensive by C$6.64

35.                flat service charge more expensive by C$6.64

36.                no difference in fee

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

32.                A bag of popcorn costs C$1.99 in Canada, and the same bag of popcorn costs US$1.99 in Morgan Hill, California, USA. What percentage more is the cost of the bag of popcorn in the US than in Canada? Use the Canadian price as the base in comparison. (US$1.00 = C$1.0271).

33.                2.47%

34.                2.54%

35.                2.51%

36.                2.58%

37.                0%

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

 

33.                If the C$ strengthens by 1% relative to the US$ (US$1.00 = C$1.0271), what will be the new value for the US$ per C$1.00?

34.                US$0.9640 per C$1.00

35.                US$0.91223 per C$1.00

36.                US$1.01688 per C$1.00

37.                US$0.9834 per C$1.00

38.                US$1.0373 per C$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

34.                If the C$ strengthens by 2% relative to the US$ (US$1.00 = C$1.0271), what will be the new value for the US$ per C$1.00?

35.                US$1.0066 per C$1.00

36.                US$0.9545 per C$1.00

37.                US$0.9113 per C$1.00

38.                US$0.93992 per C$1.00

39.                US$0.9931 per C$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

35.                If the C$ weakens by 1.5% relative to the US$ (US$1.00 = C$1.0271), what will be the new value for the US$ per C$1.00?

36.                US$0.9590 per C$1.00

37.                US$0.9884 per C$1.00

38.                US$1.0425 per C$1.00

39.                US$0.98531 per C$1.00

40.                US$1.0921 per C$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

 

36.                If the C$ weakens by 2.5% relative to the US$ (US$1.00 = C$1.0271), what will be the new value for the US$ per C$1.00?

37.                US$1.0528 per C$1.00

38.                US$0.9493 per C$1.00

39.                US$1.0327 per C$1.00

40.                US$0.9898 per C$1.00

41.                US$0.9651 per C$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

37.                If the C$ weakens by 1% relative to the euro (C$1.00 = €0.7441), what will be the new values for € per C$1.00 and C$ per €1.00?

38.                €0.7515 per C$1.00 and C1.3574 per €1.00

39.                €0.8185 per C$1.00 and C1.2674 per €1.00

40.                €0.7367 per C$1.00 and C1.3574 per €1.00

41.                €0.7067 per C$1.00 and C1.2674 per €1.00

42.                €0.67645 per C$1.00 and C1.7367 per €1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

38.                If the C$ weakens by 2.5% relative to the euro (C$1.00 = €0.7441), what will be the new value for the euro per C$1.00?

39.                €0.7590 per C$1.00

40.                €0.7727 per C$1.00

41.                €0.7292 per C$1.00

42.                €0.7255 per C$1.00

43.                €0.7686 per C$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

 

39.                If the C$ strengthens by 4% relative to the euro (C$1.00 = €0.7441), what will be the new value for the euro per C$1.00?

40.                €0.71434 per C$1.00

41.                €0.7664 per C$1.00

42.                €0.7554 per C$1.00

43.                €0.7751 per C$1.00

44.                €0.7739 per C$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

40.                If the C$ strengthens by 3% relative to the euro (C$1.00 = €0.7441), what will be the new value for the euro per C$1.00?

41.                €0.7664 per C$1.00

42.                €0.7218 per C$1.00

43.                €0.7729 per C$1.00

44.                €0.7671 per C$1.00

45.                €0.7644 per C$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

41.                If the US$ strengthens by 2% relative to the euro (US$1.00 = €0.7643), what will be the new value for the euro per US$1.00?

42.                €0.7795 per US$1.00

43.                €0.7796 per US$1.00

44.                €0.7319 per US$1.00

45.                €0.7121 per US$1.00

46.                €0.7262 per US$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

 

42.                If the US$ weakens by 5% relative to the euro (US$1.00 = €0.7643), what will be the new value for the euro per US$1.00?

43.                €0.72790 per US$1.00

44.                €0.7670 per US$1.00

45.                €0.7261 per US$1.00

46.                €0.7611 per US$1.00

47.                €0.8685 per US$1.00

 

 

Difficulty: Medium

Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation.

Topic: 03-10 Application: Appreciation and Depreciation of Currencies

 

43.                The basket of goods and services included in the Consumer Price Index cost $35,750 in the base year. If the same basket cost $43,000 six years later, what was the CPI on that date?

44.                83.1

45.                116.7

46.                72.5

47.                120.3

48.                118.4

 

 

Difficulty: Medium

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

44.                The basket of goods and services included in the Consumer Price Index cost $425 in the base year. If the same basket cost $575 ten years later, what was the CPI on that date?

45.                73.9

46.                126.1

47.                115.0

48.                130.4

49.                135.3

 

 

Difficulty: Easy

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

 

45.                The CPI increased from 130.0 to 135.0 over a two-year period. If a person earned $35,000 at the beginning of the two-year period, how much would he have to earn at the end of the two-year period to maintain the same purchasing power? Round to the nearest dollar.

46.                $36,346

47.                $36,750

48.                $36,296

49.                $36,500

50.                $40,125

 

 

Difficulty: Easy

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

46.                The CPI increased from 125.0 to 132.0 over a three-year period. If a person earned $40,000 at the beginning of the three-year period, how much would they have to earn at the end of the three-year period to maintain the same purchasing power?

47.                $42,800

48.                $42,240

49.                $40,933

50.                $42,121

51.                $40,250

 

 

Difficulty: Easy

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

47.                Nitin earns $15 per hour today. Five years ago he earned $11.75 per hour. During the five-year period the CPI rose from 136.5 to 147.6. Has Nitin’s buying power increased or decreased and by how much in current year’s dollars?

48.                increased by $2.37

49.                decreased by $2.37

50.                increased by $2.29

51.                decreased by $2.29

52.                increased by $1.95

 

 

Difficulty: Easy

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

 

48.                Sally earns $25 per hour today. Seven years ago she earned $20.75 per hour. During the seven-year period the CPI rose from 136.5 to 158.2. Has Sally’s buying power increased or decreased and by how much in current year’s dollars?

49.                increased by $3.61

50.                decreased by $3.61

51.                decreased by $0.95

52.                increased by $0.95

53.                increased by $1.40

 

 

Difficulty: Easy

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

49.                Mandeep is going to ask for a raise. Over the past year, the CPI has gone from 129.9 to 131.9. Mandeep currently earns $42,500. What is the minimum raise that Mandeep should ask for in order to maintain the same buying power? Round to the nearest dollar.

50.                $43,350

51.                $43,144

52.                $44,000

53.                $43,500

54.                $43,154

 

 

Difficulty: Easy

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

50.                Fatima is going to ask for a raise. Over the past year, the CPI has gone from 119.6 to 122.6. Fatima currently earns $45,000. What is the minimum raise that Fatima should ask for in order to maintain the same buying power? Round to the nearest dollar.

51.                $46,129

52.                $46,350

53.                $46,101

54.                $46,500

55.                $46,100

 

 

Difficulty: Easy

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

 

51.                The price of a box of chalk has increased from $0.89 to $1.39 over a ten-year period. What index number would represent the change in price over the ten-year period?

52.                150.0

53.                156.2

54.                136.0

55.                142.0

56.                148.2

 

 

Difficulty: Medium

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

52.                The price of a laser printer dropped from $299.99 to $175. What index number would represent the change in price?

53.                125.0

54.                75.0

55.                58.3

56.                71.4

57.                41.7

 

 

Difficulty: Medium

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

53.                A car requires 8 litres of gasoline to go 88 km. How many litres of gasoline will be required to go 16 km at the same rate of consumption?

54.                1.6

55.                0.5

56.                 

57.                176

58.                5.5

 

 

Difficulty: Medium

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

 

54.                Solve the proportion:

55.                 

56.                0.44

57.                1.2375

58.                0.2475

59.                 

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

55.                Karina bought 25.5 hectares of land for $63,000. If she buys another 80 hectares of land at the same price per hectare as her first purchase, how much must she pay for her second purchase?

56.                $247,058.82

57.                $197,647.06

58.                $200,812.50

59.                $260,647.06

60.                $308,823.53

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

56.                Three partners share the partnership’s profit according to the proportion of the business each owns. Ms. A owns 30%, Mr. B owns 25% and Ms. C owns the remainder. What profit would Mr. B receive if Ms. A receives $32,500?

57.                $108,333.33

58.                $8,125.00

59.                $24,375.00

60.                $27,083.33

61.                $30,875.00

 

 

Difficulty: Medium

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

 

57.                Total overhead of $235,000 is allocated according to the proportion of labour hours. Department A used 1830 hours, department B used 1635 hours, and department C used 1760 hours. What amount of overhead should be allocated to department C?

58.                $119,365.08

59.                $155,842.11

60.                $115,634.92

61.                $82,306.22

62.                $79,157.89

 

 

Difficulty: Medium

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

58.                Suppose that C$1.00 is equivalent to US$0.92149. How much will it cost in C$ to purchase US$1565? (Ignore any commission.)

59.                C$1597.69

60.                C$1732.31

61.                C$1442.13

62.                C$1698.34

63.                C$2762.95

 

 

Difficulty: Medium

Learning Objective: 03-04 Use quoted exchange rates to convert between currencies.

Topic: 03-07 Application: Exchange Rates and Currency Conversion

 

59.                If the basket of goods and services included in the consumer price index (CPI) cost $21,350 in the base year (when CPI = 100) and currently costs $28,550, what is the current CPI?

60.                133.72

61.                128.63

62.                74.78

63.                125.08

64.                139.77

 

 

Difficulty: Medium

Learning Objective: 03-06 Interpret and use index numbers.

Topic: 03-11 Application: Index Numbers

 

 

60.                Express the ratio 76 : 44 : 8 in its lowest terms.

61.                38 : 22 : 1

62.                38 : 11 : 2

63.                9 : 5 : 1

64.                19 : 11 : 2

65.                6 : 3 : 1

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

61.                Express the ratio 130 : 290 : 60 in its lowest terms.

62.                2 : 4 : 1

63.                26 : 58 : 12

64.                65 : 145 : 30

65.                58 : 26 : 12

66.                13 : 29 : 6

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

62.                Express the ratio 3 : 21 : 0.75 as an equivalent ratio whose smallest term is 1.

63.                1 : 7 : 0.25

64.                3 : 21 : 1

65.                11 : 13 : 1

66.                1 : 7 : 25

67.                4 : 28 : 1

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

 

63.                On a typical day, Generous Motors sells 3,600 vans, 1,500 pickup trucks, and 7,800 passenger cars. In lowest terms, what is the sales ratio of cars to vans to pickups?

64.                36 : 15 : 78

65.                1560 : 720 : 300

66.                26 : 12 : 5

67.                78 : 15 : 36

68.                12 : 5 : 26

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

64.                To raise money for her hockey team, Juliana collected a total of $264. Her uncle Vic donated $96, her uncle Dave donated $48 and her aunt Karen donated the rest. In lowest terms, express the ratio of the donations of Vic, Dave and Karen.

65.                4 : 2 : 5

66.                5 : 12 : 26

67.                2 : 5 : 4

68.                4 : 2 : 11

69.                5 : 2 : 4

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

65.                Last year, a company’s salespersons, A, B, and C recorded sales as follows: “A” recorded three sevenths (3/7) of the total, “B” recorded one quarter (1/4) of the total and “C” recorded the rest of the sales. Express, in lowest terms, the sales ratio of A : B : C.

66.                3 : 7 : 4

67.                7 : 4 : 1

68.                3 : 1 : 6

69.                21 : 7 : 28

70.                12 : 7 : 9

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

66.                Express the ratio 0.75 : 3 as an equivalent ratio whose smallest term is 1.

67.                0.25 : 1

68.                4 : 1

69.                3 : 12

70.                2.25 : 1

71.                1 : 4

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

67.                Solve the proportion:

68.                15

69.                12

70.                3

71.                0.75

72.                26.666

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

68.                Solve the proportion:

69.                24

70.                1504

71.                2400

72.                76

73.                1800

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

 

69.                Betty and Lois have already invested $12,450 and $16,600 respectively. If Betty invests another $6,000 what amount should Lois contribute to maintain their investments in the same ratio?

70.                $6,000

71.                $7,000

72.                $8,000

73.                $9,000

74.                $4,000

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

70.                Last year the team won 34 games and lost 17. This year they will play a total of 15 more games than they played last year. How many games will they have to win this year to maintain the ratio of wins to losses from last year? (There are no tie games.)

71.                51

72.                24

73.                10

74.                44

75.                48

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

71.                Hockey goals and assists each count as one point. Anthony’s ratio of goals to assists is 2:5. Last season he collected a total of 91 points. How many goals did Anthony score?

72.                65

73.                35

74.                26

75.                78

76.                13

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

 

72.                Mary paid $1,500 for car insurance at the beginning of the year. After 5 months she cancelled the insurance and was given a pro-rated refund based on the number of months remaining on the policy less a service charge of $100. How much money did she get back?

73.                $500

74.                $600

75.                $625

76.                $775

77.                $875

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

73.                A lottery prize was shared by Andy, Betty, and Chris by the ratio of 15 : 12 : 27. If Andy received $4,500, how much did Chris get?

74.                $11,700

75.                $8,100

76.                $3,600

77.                $16,200

78.                $9,900

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

74.                Axel, Bonita, and Chip are partners in business. The ratio of ownership of the partnership between Axel, Bonita, and Chip respectively is 5 : 4 : 10. If Bonita’s share is worth $28,000 what is the value of the whole business?

75.                $56,000

76.                $35,000

77.                $112,000

78.                $133,000

79.                $70,000

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

 

75.                Bonus money totalling $920,000 is to be shared by Dave, Claude, Marcel, and Larry by the ratio 15 : 11 : 8 : 6. How much will Dave receive?

76.                $253,000

77.                $460,000

78.                $345,000

79.                $368,000

80.                $312,000

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

76.                Rodger, Dodger, and Codger own a business in the ratio of 12 : 7 : 9. The value of the business is $560,000. If Codger sells his share to Dodger, what will be the new ownership ratio in the form Rodger : Dodger?

77.                4 : 3

78.                21 : 7

79.                3 : 1

80.                4 : 5

81.                3 : 4

 

 

Difficulty: Easy

Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis.

Topic: 03-06 Application: Allocation and Proration

 

 

 

Short Answer Questions

 

77.                A bartenders’ handbook recommends that one bottle of spirits be provided per 10 guests at a New Year’s Eve party. Furthermore, the relative consumption of scotch, rye, and rum is in the ratio of 3 : 5 : 4. How many bottles of each liquor should be stocked for a party expecting 480 guests?

Scotch: 12 bottles

Rye: 20 bottles

Rum: 16 bottles

 

 

Difficulty: Easy

Learning Objective: 03-02 Set up and solve proportions.

Topic: 03-04 Proportions

 

 

78.                Express the following ratio in its lowest terms: 12 : 64

3 : 16

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

79.                Express the following ratio in its lowest terms: 56 : 21

8 : 3

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

80.                Express the following ratio in its lowest terms: 45 : 15 : 30

3 : 1 : 2

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

81.                Express the following ratio in its lowest terms: 26 : 130 : 65

2 : 10 : 5

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

82.                Express the following ratio in its lowest terms: 0.08 : 0.12

2 : 3

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

83.                Express the following ratio in its lowest terms: 2.5 : 3.5 : 3

5 : 7 : 6

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

84.                Express the following ratio in its lowest terms: 0.84 : 1.4 : 1.96

3 : 5 : 7

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

85.                Express the following ratio in its lowest terms: 11.7 : 7.8 : 3.9

3 : 2 : 1

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

86.                Express the following ratio in its lowest terms: 0.24 : 0.39 : 0.15

8 : 13 : 5

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

87.                Express the following ratio in its lowest terms: 0.091 : 0.021 : 0.042

13 : 3 : 6

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

88.                Express the following ratio in its lowest terms:

1 : 6

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

89.                Express the following ratio in its lowest terms:

8 : 9

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

90.                Express the following ratio in its lowest terms:

7 : 10

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

91.                Express the following ratio in its lowest terms:

7 : 3

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

92.                Express the following ratio in its lowest terms:

3 : 4

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

93.                Express the following ratio in its lowest terms:

4 : 1

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

94.                Express the following ratio in its lowest terms:

15 : 8

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

95.                Express the following ratio in its lowest terms:

8 : 9 : 10

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

96.                Express the following ratio in its lowest terms:

2 : 6 : 3

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

97.                Express the following ratio in its lowest terms:

15 : 10 : 6

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

98.                Express the following ratio as an equivalent ratio whose smallest term is 1: 7.6 : 3

 

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

99.                Express the following ratio as an equivalent ratio whose smallest term is 1: 1.41 : 8.2203

1 : 5.83

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

100.             Express the following ratio as an equivalent ratio whose smallest term is 1: 0.177 : 0.81066

1 : 4.58

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

101.             Express the following ratio as an equivalent ratio whose smallest term is 1: 0.013072 : 0.0086

1.52 : 1

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

 

102.             Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1:

1 : 2.61

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

103.             Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1:

2.66 : 1

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

104.             Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 77 : 23 : 41

3.35 : 1 : 1.78

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

105.             Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 11 : 38 : 27

1 : 3.45 : 2.45

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

 

106.             Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 3.5 : 5.4 : 8

1 : 1.54 : 2.29

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

107.             Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 0.47 : 0.15 : 0.26

3.13 : 1 : 1.73

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

108.             Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1:

1 : 2.47 : 1.37

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

 

109.             Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1:

1.47 : 1 : 2.22

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

110.             Shaheed has budgeted 12% of his monthly spending to cell phones and internet, 22% to food and 40% to rent and utilities. In lowest terms, what is the ratio of his spending for cell phones and internet to food to rent and utilities?

6 : 11 : 20

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

111.             Don, Bob, and Ron Maloney’s partnership interests in Maloney Bros. Contracting are in the ratio of their capital contributions of $78,000, $52,000, and $65,000, respectively. In lowest terms, what is the ratio of Bob’s to Ron’s to Don’s partnership interest?

4 : 5 : 6

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

112.             Victoria Developments has obtained $3.6 million of total capital from three sources. Preferred shareholders contributed $550,000 (preferred equity), common shareholders contributed $1.2 million (common equity), and the remainder was borrowed (debt). What is the firm’s ratio of debt to preferred equity to common equity? (Express as a ratio whose smallest term is 1 and round to 2 decimal places)

3.36 : 1 : 2.18

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

113.             The cost to manufacture a fiberglass boat consists of $4480 for materials, $6330 for direct labour, and $2650 for overhead. Express the three cost components as a ratio whose smallest term is 1. (Round to 2 decimal places)

1.69 : 2.39 : 1

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1

 

114.             A provincial government budget forecasts expenditures of $15.6 billion on education, $13.65 billion on health services, and $9.75 billion on social services. Express the three budget items as a ratio in lowest terms.

8 : 7 : 5

 

 

Difficulty: Easy

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms

 

 

115.             The brine used in an industrial process is 12.5% salt by weight. In lowest terms, what is the ratio (by weights) of salt to water in the brine?

1 : 7

 

 

Difficulty: Medium

Learning Objective: 03-01 Set up and manipulate ratios.

Topic: 03-02 Reducing a Ratio to its Lowest Terms