
Revision Qs (Calculations 21.1.1)
Authored by M. Attan
Business
10th Grade
Used 2+ times

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5 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
NOF imports dried fruit from France. A kilogram (kg) costs €12.84.
The exchange rate is £1 (Pound sterling) = €1.16 (Euro).
Which one of the following would NOF pay for 1kg of dried fruit in pounds sterling?
£1.16
£11.07
£12.84
£14.00
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
NOF buys honey from a local farm for £1.60 a jar and sells it to customers for £3.60.
What is the percentage markup on a jar of honey?
1.6%
2%
125%
250%
3.
FILL IN THE BLANK QUESTION
2 mins • 2 pts
Calculate, to two decimal places, the operating profit margin using the attached extract.
You are advised to keep evidence of your working in your note book.
4.
FILL IN THE BLANK QUESTION
3 mins • 2 pts
You must memorise the break-even formula. It will not be given on the formula sheet.
NOF is looking to expand its product range by making and selling tubs of ice cream.
A tub of ice cream will sell for £2.50. Variable costs will be £1.10 per tub of ice cream with fixed costs of £77 per day.
Calculate the number of tubs of ice cream NOF will have to sell each day to break-even.
You are advised to keep evidence of your working in your note book.
5.
FILL IN THE BLANK QUESTION
2 mins • 2 pts
Calculate, to 2 decimal places, the current ratio for 2020 using the attached extract.
Hint: Current ratio = current assets / current liabilities
You are advised to keep evidence of your working in your note book.
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