Business Math

Business Math Review Part 2

Multiple Choice

Which terms are referred to as the extremes of a proportion?

• 1st term and 3rd term

• 1st term and 4th term

• 2nd term and 3rd term

• 2nd term and 4th term

Multiple Choice

Which of the following statements is TRUE regarding the difference between markup and markdown?

• A markup is the amount deducted to the cost while markdown is the added in the reduced price.

• A markup is usually expressed in percentage while markdown is also known as percentage margin.

• A markup is an amount added to the cost of merchandise to obtain a higher amount while markdown is a reduction in the selling price of merchandise.

• A markup is the rate based on the cost while markdown is given to clear perishable that is no longer willing to keep.

Multiple Choice

The list price of an item is PHP1500. A discount of 10% is offered. How much will be the discount?

• PHP150

• PHP500

• PHP1000

• PHP1350

Multiple Choice

WHat is the equivalent discount of the series discount 25/10/3?

• 0.35%

• 34.53%

• 38%

• 72.36%

Multiple Select

SELECT ALL that is true about Break-even point.

• It is a point where the seller has covered all expenses and costs of production but has not made any profit or suffered any loss.

• When the sales are less than the breakeven point, there is a loss.

• It determines the needed volume of products that must be produce to attain a balance between selling price and revenue.

• When the sales exceed the breakeven point, there is a profit.

Fill in the Blanks

Mrs. Rigor has 5,000 square meters of land in Bulacan in which to plant rice and corn. She is planning to follow the ratio of 7:3 for the area of land for rice to the area of the land for corn.

Mrs. Rigor will use

square meters of land for rice.

Fill in the Blanks

Mrs. Rigor has 5,000 square meters of land in Bulacan in which to plant rice and corn. She is planning to follow the ratio of 7:3 for the area of land for rice to the area of the land for corn.

Mrs. Rigor will use

square meters of land for corn.

Fill in the Blanks

Mr. Rivera is a florist. He marks up his roses 50% and sells them for PHP996 every half dozen.

The cost was PHP

​Selling Price=Cost+Markup

          996=Cost+(50%ofCost)

          996=Cost+0.5Cost

          996=1.5Cost

            996/1.5=1.5Cost/1.5

664=Cost​

Fill in the Blanks

Mr. Rivera is a florist. He marks up his roses 50% and sells them for PHP996 every half dozen.

The mark up was PHP

Fill in the Blanks

The Department Store sells table lamps at a regular price of Php360. In a period of one week, the price of the table lamp was marked down to Php300.

The markdown is PHP

​Markdown=Original Selling Price-Reduced Price

Markdown=360-300

Markdown=60

Fill in the Blanks

The Department Store sells table lamps at a regular price of Php360. In a period of one week, the price of the table lamp was marked down to Php300.

The markdown rate is

%

Multiple Choice

Mellie purchased 120 pencils at the rate of Php2 per pencil. She sold 72 of them at the rate of Php2.5 per pencil and the remaining at the rate of Php2 per pencil. Was it a profit or loss?

• PROFIT

• LOSS

Fill in the Blanks

Mellie purchased 120 pencils at the rate of Php2 per pencil. She sold 72 of them at the rate of Php2.5 per pencil and the remaining at the rate of Php2 per pencil. The profit/loss percen was

%