Business Math 1st Quarter Exam REVIEW V3

A leather jacket cost P250,300 is being sold  P289,900 . What is the rate of mark-up based on cost?

• 22.45%

• 23.11%

• 25.20%

• 22.11%

It refers to the decrease in the new selling price that does not decrease it below the original selling price.

• additional mark-up

• mark-up cancellation

• initial mark-up

• mark down

In a high school, 25% of the faculty teachers is math. If there are 25 math teachers, how many teachers are there in school?

• 50

• 100

• 150

• 200

The service charge in a restaurant is 10% of bill. If a customer's bill is at P785.25, What is the total amount to be paid?

• P863.78

• P633.28

• P523.25

• P 603.50

It refers to the purchase price of an article and this you need to make the product.

• cost

• margin

• mark-up

• selling price

It is the difference between the original selling price and the cost?

• cost

• margin

• initial mark-up

• selling price

Find the mark down and mark down rate if the jeans was originally price at P590 and sold at P360?

• 230 and 63%

• 250 and 64%

• 230 and 64%

• 230 and 65%

Mark down refers to the decrease in the new selling price that does not decrease it below the original selling price.

• TRUE

• FALSE

If you have your sales and you deducted the cost of good sold you will get the margin.

• TRUE

• FALSE

After all costs and expenses had been deducted, margin is what remains of the sales.

• TRUE

• FALSE