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MATHEMATICS AND
STATISTICS
TH
EDITION
SOLUTIONS MANUAL
John S. Croucher
Chapter 4
Ratios and proportions
Quick Quiz
1. (c)
2. (d)
3. (b)
4. (d)
5. (a)
6. (c)
7. (c)
8. (d)
9. (a)
10. (b)
Practice Questions
1.
969
100 = 950 km per 100 litres
102
2. Number of bags = 9
3. Current-asset ratio = $80 000 = 1.33
$60 000
This means that the business has $1.33 in current assets for every $1 in current
liabilities.
4. Acid-test ratio = 0.88
5. Debtor turnover = 13.16
Average collection period =
365
13.16
27.74 days
Exercises
4.1
17%
40
= 42.5%
23%
40
= 57.5%
4.2
(a) 4 : 3
(b) 1 : 6
(c) 2 : 5
4.4
(a) 13 : 8
(b) 3 : 4
(c) 3 : 4
4.5
Petrol usage =
1650
125
km/L
13 200 metres/L
4.7
(a) January
February
March
April
118.2
100.0
61.1
25.1
(b) January
March
April
18.2% increase
38.9% decrease
74.9% decrease
Introductory Mathematics and Statistics 6e, John S Croucher, 2013 McGraw-Hill Education (Australia) Pty Ltd
Solutions Manual, Chapter 4
4.8
(a) January
February
March
April
470.6
398.0
243.1
100.0
4.9
(a)
568
25.82 pairs/minute
(b)
568
60 1549 pairs/hour
(c)
22 60
22
22
568
4.10
4.11
4.12
4.13
4.14
4.15
4.16
Introductory Mathematics and Statistics 6e, John S Croucher, 2013 McGraw-Hill Education (Australia) Pty Ltd
Solutions Manual, Chapter 4
4.17
This means that in the previous year the local council had 67 cents in current
assets for every $1 in current liabilities owed, while this year the figure had
dropped to 58 cents.
4.18
(a) This means that in the previous year this local council had 76 cents in current
assets for every $1 in current liabilities owed, while this year the figure increased to
$1.77.
(b) Possibly the neighbouring council since the figure of $1.77 indicates it could
readily meet its obligations.
4.19
4.20
4.21
4.22
4.23
4.24
Introductory Mathematics and Statistics 6e, John S Croucher, 2013 McGraw-Hill Education (Australia) Pty Ltd
Solutions Manual, Chapter 4
4.25
4.26
Bank overdrafts are not usually included in the calculation of the quick-test ratio since
it is uncommon for banks to demand sudden repayment of such overdrafts.
4.27
The quality of assets is an indication of how readily such assets can be converted into
cash to meet company obligations.
4.28
4.29
4.30
4.31 Vijays average monthly investment = $444.44 = 21% Irenes average monthly
investment = $1666.67 = 79%
(a) Vijay = $4 200, Irene = $15 800
(b) Vijay = $8 400, Irene = $31 600
(c) Vijay = $21 000, Irene = $79 000
4.32
Introductory Mathematics and Statistics 6e, John S Croucher, 2013 McGraw-Hill Education (Australia) Pty Ltd
Solutions Manual, Chapter 4
4.33
4.34
4.35
4.36
4.37
4.38
4.39
(1)
(2)
(1)
16
9
or 9x2 = 16y2
(2)
Introductory Mathematics and Statistics 6e, John S Croucher, 2013 McGraw-Hill Education (Australia) Pty Ltd
Solutions Manual, Chapter 4
4.42
4.43
4.44
4.45
4.46
4.47
Introductory Mathematics and Statistics 6e, John S Croucher, 2013 McGraw-Hill Education (Australia) Pty Ltd
Solutions Manual, Chapter 4
4.48
4.49
1 gallon
28 miles
4.54609188 litres
1.609344 kilometres
4.54609188 litres
1.609344 kilometres 28
= 2.8248
=
litres
kilometre
= 0.1009
litres
kilometre
4.50
624
4.51
4.52
72
This means that the business has $1.61 in current assets for every $1 in current
liabilities.
4.53
4.54
4.55
39:32
4.56
4.57
Stock turnover =
4.58
4.59
4.60
$536 000
= 0.65
($860 000 + $786 000)/2
4+12
16
=
4 + 6 + 8 + 12 30
0.54
3.60
= 15%
Introductory Mathematics and Statistics 6e, John S Croucher, 2013 McGraw-Hill Education (Australia) Pty Ltd
Solutions Manual, Chapter 4