BUSINESS MATHEMATICS

Quiz 2

Name: ______________________________________Date: ____________________________

Section:_____________________________________

Compute for the following. Final answers are rounded to 2 decimal places.
Discount
(1) Find the total discount on an order of 30 lamps listed at P350 each and has a trade discount of
9%?
(2) Ben paid P1.25 per six marbles. If he bought 60 marbles, how much did he pay for 60 marbles if
he was given 5% discount?
(3) Find the net price of a software program that lists for P220,000 and has a trade discount of 35%.
(4) Find the discount rate if the net price is P3500 and the trade discount is P750
(5) Z Enterprises received a P5,248 bill for computer supplies dated September 2 with sales terms of
2/10, n/30 and A 5% penalty is charged after 30 days. If the invoice is paid on September 8, how
much would Z Enterprises pay?
(6) Based on Item 5, what will be the amount due if the bill is paid on October 8?
(7) The following table shows the prices Joy Enterprise charges its customers for certain items and
cost of each item to the store. Find the total profit given the number of quantities sold for the month
Article

Selling Price

Discount Given

Cost of Product

Quantity Sold

Polo Shirt

P550

2%

P345

129

T-shirt

P400

3%

P250

293

Shoes

P1499

4%

P870

89

Interest
(8) Kiko is saving a little extra money to pay for his car insurance next year. If he invests P10,000
for 14 months at 6%, how much interest can he earn?
(9) Judy paid P208 in interest on a loan that she had for 1/2 year. The interest rate was 14%. How
much was the principal?
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(10) Marcus Logan can purchase furniture on a 2-year simple interest loan at 9% interest per year.
What is the maturity value for a P2,500 loan?
(11) Shelby borrowed P25,000 at 12% and paid P3,600 in interest. What was the length of the loan?
(12) Sammy wants to borrow P8,500 for 18 months and will have to pay P525 in interest. What is the
rate he is being charged?
Financial Statement Analysis
(13) The assets of Ian Company are P240,000 and the owners equity is P150,000. What is the debt
ratio?
(14) Given the following information: Sales P365,000; Cost of Sales P190,000; Salaries and
Wages P70,000; Utilities Expense P35,000. Calculate the net profit ratio.
(15) Using horizontal analysis, what is the percentage change if the accounts receivable last year was
P240,900 and this year is P330,000.
(16) A restaurant reported the following current assets: Cash P12,000, Accounts Receivable P1,980,
Inventory, P4,400. Current Liabilities total P7,800. What is the current ratio?
(17) The Companys Assets are composed of Cash P30,000, Accounts Receivables P45,000,
Inventories P58,000, Equipment P150,000. Determine the percentage component of Inventories
using Vertical Analysis.
Inventories
(18) Find the cost of sales if the beginning inventory is P50,500, Purchases is P80,700 and ending
inventory is P15,000.
(19-20) Using the table below, assume an ending inventory of 10 items for the first purchase; 8 items
for the second purchase, 6 items for the third purchase, and 3 units for the fourth purchase.

(19) Find the Cost of Goods Sold using Specific Identification Method.
(20) Find the Cost of Goods Sold using Weighted Average Method.

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