LGT Maths in Business Studies

You are reviewing the efficiency of your two warehouse staff, Bill and Ben, who pack boxes. Bill packs 60% of the boxes. What is the ratio of the number of boxes Ben has packed to the number Bill has packed?

• 1 : 6

• 2 :5

• 3 : 5

• 2 : 3

Answer explanation

Bill packs 60% so Ben must pack 40%

Ratio Ben to Bill = 40% to 60% or 4 to 6 which is the same as 2 to 3

You are the management accountant for a contract based in Bahrain. You have to pay a local subcontractor 250,000 Bahraini Dinars (BHD). At a rate of 1BHD = £1.60, how much will this cost you in £?

• £400,000

• £156,250

• £150,750

• £145,607

Answer explanation

250,000 / 0.603 = £414,594

Duncan, Gordon and Iain are in a partnership and agree to share their partnership profits in a ratio of 5:4:3 respectively. If this partnership makes a profit of £72,000 in 2020, how much profit will Gordon receive in 2020?

• £24,000

• £28,800

• £30,000

• £35,000

Answer explanation

72,000 / 12 (5+4+3) x 4 = £24,000

You work in the finance department of an oil services company and have been asked to organise a payment to an American supplier for $57,860. At a rate of £1 = $1.48, how much will this cost in £s?

• £85,633

• £82,505

• £42,075

• £39,095

Answer explanation

57,860 / 1.48 = £39,095

You are the sales manager for an electrical company. You sell TVs at 20% above the wholesale cost of £200. The store gives employees a 10% discount on the retail price. How much do you charge an employee for a TV?

• £198

• £216

• £220

• £230

Answer explanation

Retail Price Mark-up = £200 x 20% = £40

Total Retail Price = £200 + £40 = £240

Employee Discount = £240 x 10% = £24

Employee Price Paid = £240 - £24 = £216

You are attending a board meeting to appoint your auditors. At least 2/3 of the 40 members must vote in favour for it to go ahead. What is the greatest number of members who could vote against the appointment of a specific auditor and for them to still be appointed?

• 12

• 13

• 14

• 15

Answer explanation

2/3 must vote for it to go ahead = 40 x 2/3 = 26.67. 27 people must therefore vote for it to go ahead (Note must round up!) Therefore 13 (40-27) can vote against it and for the auditors to still be appointed

A company has the following shares in issue:

10,000,000 ordinary ‘A’ shares

6,000,000 ordinary ‘B’ shares

A significant shareholder holds 2/5 of the ‘A’ shares and 4/6 of the ‘B’ shares. How much, as a percentage, does this shareholder hold of the total shares in issue?

• 25%

• 33%

• 50%

• 54%

Answer explanation

2/5 of A shares = 4,000,000 (10,000,000 x 2/5)

4/6 of B shares = 4,000,000 (6,000,000 x 4/6)

Total = 8,000,000

Total shares of company = 16,000,000 (10,000000 + 6,000,000)

Shareholding as a % = 50% ((8,000,000/16,000000) x 100)

You are deciding on which special offers to implement in your stores. You normally sell scooters for £40 each but these are currently on offer as two scooters for £75. What % reduction does this represent in the price of two scooters?

• 2.5%

• 6.25%

• 6.67%

• 8%

Answer explanation

2 scooters at normal price = £80 (£40 x 2)

2 scooters at sale price = £75

Reduction = £5

Reduction as a % = £5 / £80 x 100

= 6.25%

You are working as a manager for an agriculture company which owns two plots. 200 seeds were planted in plot 1 and 300 seeds in plot 2. 57% of the plot 1 seeds germinated and 42% of plot 2 seeds germinated. What % of the total seeds planted germinated?

• 45.5%

• 46.5%

• 48%

• 49.5%

Answer explanation

Plot 1 = 200 x 57% = 114

Plot 2 = 300 x 42% = 126

Total Germinated = 240

Total Germinated (%) = 240 / (200 + 300) x 100

= 48%

On 31/12/20 your company share price was 108p. This is 40% lower than a year earlier. What was the share price on 31/12/19?

• 196.4p

• 151.2p

• 165.7p

• 180.0p

Answer explanation

2020 share price is 40% lower than 2007 share price

Therefore 2020 share price is 60% of 2019 share price

2020 share price = 2007 share price x 0.6

108 = 2019 share price x 0.6

2019 share price = 108 / 0.6

2019 share price = 180p