General Santos Hope Christian School

Block 8, Dadiangas Heights

General Santos City
Mid - Term Examination
Business Mathematics
Grade XI - ABM
SY: 2016 2017
Name: ____________________________
Teacher: Rogelio B. Pontejo

Score: _________

I. MULTIPLE CHOICE: Identify the choice that best completes the statement or answers
the question.
______1. Which of the following fractions is equal to ?

A.

12
60

B.

48
12

36
108

C.

D.

26
104

17
50

E.

______ 2. John earns P8.35 an hour. Last week he worked 21 hours. This week he
worked 33 hours. What is his straight time pay for the two weeks?
A. P460.90

B. P450.90

C. P175.35

D. P275.55

______ 3. The table shows the hours worked for the week. What is the total number of
hours worked?
Monday
1
5
7

A. 39

Tuesday

Wednesday
2
4
7

B. 38

2
4

C. 38

Thursday
8
10
8
1
10

Friday
3
5
6

D. 38

1
5

E. 37

1
10

_______ 4. Round to the nearest hundredth. 11.6479

A. 11.7

B. 11.65

C. 11.64

D. 11.6

E. 11.658

C. 456

D. 479.25

E. 550

______ 5. What is 6 % of P7,600.00?

A. 513

B. 520

______ 6. Joan gets paid P2.35 for each baseball cap she embroiders. Her
production sheet is shown. What is her total pay for the week?
Date

3/05

3/06

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Business Mathematics XI

3/07

3/08

3/09

3/10

Hats

52

A. P575.13

48
B. P543.90

53

44

36

C. P643.70

41

D. P622.75 E. P643.90

______ 7. A carpenter makes P57,000.00 per year. What is the monthly salary?
A. 4,800

B. 4,750

C. 5,000

D. 4,850

E. 4,900

C. 12.34

D. 123.4

E. .01234

______ 8. Write 12.34% as a decimal.

A. 1.234

B. 0.1234

______ 9. Johnathans salary for a four-week period was $7,396.00. What is the
weekly salary?
A. 1,850

B. 1,800.

C. 1,849

D. 7,396

E. 1,738

______ 10. If a job has salary of P4,700 a week, how much would it pay for a year?
A. P244,400

B. P18,800.

C. P225,600

D. P249,600 E. P240,000

______ 11. One-Stop Building Supply Company pays P499.40 each for ladders. The
company wants a 45% mark up on the cost. It should sell each ladder for
A. P724.13

B. P769.92

C. P722.47

D. P779.92

E. P782.40

Problems 12 15. Duane McCoys job pays him $11.25 per hour for a 40hour week. He estimates his fringe benefits to be 29% of his yearly wages.
His yearly job expenses are estimated to be dues, $375; uniforms, $580;
commuting costs, $934.
______ 12. What is Duanes total annual pay?
A. $23,400

B. $450

C. $11,700

D. $5,400

E. $20,000

______ 13. What is Duanes total yearly salary and benefits?

A. $580.5

B. $15,093.00

C. $6,966.00

D. $30,186.00 E. $500.5

______ 14. What is Duanes total yearly job expenses?

A. $1,998

B. $1,988

C. $1,889

D. $1,898

E. $1,989

D. $28,729

E. $28,792

______ 15. What is Duanes net yearly job benefits?

A. $28,279

B. $28,297

C. $28,927

______ 16. 17. A local electronics store purchased some calculator 90 days ago for
P2511 less discounts of 11% and then 6%. The original selling price of the
computers is 12% above the cost. The manager has decided to blow the
computers out at 25% off the stores normal selling price. What is the blow
out sale price?
A. P1772.99

B. P2109.24

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Business Mathematics XI

C. P2110.70

D. P2363.98

______ 18 19. A local clothing store has purchased some handkerchief for P23.14
each less discounts of 5%, 3.5% and 2.2%. The store has overhead of 71%
of cost and a normal profit of 63% of cost. What is the regular selling price of
the shorts?
A. P20.75

B. P33.82

C. P54.15

D. P48.55

______ 20 21. A flower shop has decided to hold an auction. The price of a bouquet
of flowers will go down by 6% per hour for every hour after 8 a.m. The buyer
purchases the flower at 1 p.m. What is the single equivalent rate of
discount?
A. 31.01%

B. 26.64%

C. 73.39%

D. 21.93%

______ 22 23. What rate of discount has been allowed if an item has a normal selling
price of P3699.00 and it is sold for P3199.00?
A. 13.52%

B. 15.63%

C. 86.48%

D. 50.00%

______ 24 25. What was the normal selling price for a product if the final price was
P61.50 and the item was sold at discounts of 15% and then 20%?
A. P90.44
II.

B. P250.00

C. P175.71

D. P41.82

MATCHING TYPE: Match the items in Column A with the items in Column B.
Write the answer of your choice on the space provided before each item in
Column A.
PART I. Balance Sheet and Income Statement

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Business Mathematics XI

B
______ 26. How the firm stands on a
specific date
______ 27. Amounts owed by the
customers
______ 28. Future expense items
already paid
______ 29. Cash/likely convertible to cash within
1 year
______ 30. Original amount paid

A
a. Account Payable
b. Account Receivable
c.
d.
e.
f.
g.
h.
i.
j.
k.

Accrued Taxes
Common Stock
Current Assets
Current Liability
Depreciation
Earning reinvested
Fixed Assets
Prepaid Expense
Retained Earnings

______ 31. Deduction for wear and tear

______ 32. Owed to suppliers for goods and
services
A
______36.
33.P1000
Unpaid
______
is wages,
investedtaxes,
at twoetc
years in a bank,
earning a simple interest of 8% per annum.
______ 34. Debts payable
B
______ 37. P10,000 is invested for 4 years and 9 months
______ 35.inOriginal
a bankinvestment
earning a simple interest rate of
10% per annum.
l. P34.50
______ 38. Find m.
the P60.00
present value at 8% simple interest
n.
P141.91
of a debt P3,000.00 due in ten months.
o. P160.00
p. P872.42
______ 39. Determine
the future value of P1000 which
q.
P1,169.86
was invested 4 years at 4% compounded
r. P1,962.00
annually.
s. P2,104.85
t. P2,812.50
______ 40. Determine
the future value of P1000 which
u.
P14,750.00
was invested 5 years 6 months at 14%
v. P16,713.00
compounded
semi - annually.
______ 41. P800.00 is invested for one year. If the
interest rate is 8.75% compounded
quarterly. Determine the amount after one
year.
______ 42. How much money should be deposited in a
bank paying interest at the rate 6% per year
compounded monthly so that at the end of 3
years the accumulated amount will be
P20,000.00?
______ 43. Allan has P600 in his savings account
earning 5 annual interest. After 12
months, and using the simple interest, what
amount of interest will he have earned?

______ 44. Rosanna bought two (2) burgers at P49.95

each and two (2) cup - cakes at P16.99
each. The sales tax where she lives is 6%.
What was the total amount of the purchase?
Business
Mathematics
XI
_____ 45. ____
is 20%
more than 50?

PART II. Interest, Rate

and
Percentage

III.

PROBLEM
SOLVING:
Solve the
following
problems.
Show your
solutions.

46 50.Market Systems
provides medical
coverage through
a group medical
plan for
employees. The
annual cost of the

family membership is P7,250. The company pays 49 percent of the cost. How
much do the employees contribute for medical insurance?

51 55. A new home has an estimated replacement value of P194,000.00. The

insurance will cover 85% of the replacement value. What is the amount of
coverage on the home?

56 60. Mr. Thomass charge account statement shows an unpaid balance of P600.
The monthly finance charge is 1.5 percent of the unpaid balance. What is the
new account balance?

61 65. In order to buy a new house, a family obtains a mortgage of P150,000 for 30
years at 7.5% compounded monthly. What are the monthly payments?

66 70. Jordan and his wife have P64,600.00 to use as a down payment on a home
that costs $241,000.00. What is the amount of their mortgage loan?

71 75. Mr. Wilcox is purchasing a home for P314,990.00. The bank is willing to
finance the purchase if Wilcox can make a down payment of of the selling
price. How much money will he need for the down payment?

76 80. A car salesman makes 10 percent commission on the first P10,000 and 12
percent on all sales over P10,000. How much commission will be earned on
P22,500.00 in sales?

5
Business Mathematics XI

God Bless

______ 21. The net price of an article is $61.75. What is the suggested price (the
list price) if a discount of 35% was allowed?
A.

$95.00

B. $101.89

C. $83.36

D. $175.43

______ 22. An item costing $42.14 to buy was sold for $84.99. What is the rate
of markup based on cost?
A.

101.67%

B. 201.68%

C. 50.42%

D. 1.68%

_____ 23. A department store lists a product for $200 less 20%. To improve the
sales, the net price is reduced to $120. What additional rate of discount is given by the
store?
A.

23%

B. 24%

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Business Mathematics XI

C. 25%

D. 26%

Mortgage
1. Jordan and his wife have $64,600.00 to use as a down payment on a home that costs
$241,000.00. What is the amount of their mortgage loan?
2. Mr. Wilcox is purchasing a home for $314,990.00. The bank is willing to finance the
purchase if Wilcox can make a down payment of of the selling price. How much
money will he need for the down payment?
3. A car salesman makes 10 percent commission on the first $10,000 and 12 percent on all
sales over $10,000. How much commission will be earned on $22,500.00 in sales?
4.
Pricing
5. A new home has an estimated replacement value of $194,000.00. The insurance will
cover 85% of the replacement value. What is the amount of coverage on the home?
6. Mr. Santiago recorded his housing expenses for the month of March: $1,383.74 for
mortgage payment, $12.34 for insurance premium, $93.13 for real estate taxes, $127.34
for electricity, $53.73 for telephone service, and $67.13 for water. What is the total
monthly housing costs?
7. Barry purchased 750 shares of stock at $33.73 per share. His online broker charged him
a $25.00 commission. What is the total cost of the stock?
8. Ms. Rodriguez purchased five bushes for $14.25 each, a swing for $75.34, and a gas grill
for $179.99. She must pay the state tax of 3.5 percent, and the city tax of 2 percent.
What is the total purchase price?
9. What is the list price of an item that is subject to a series of discounts of 15%, 10%, 5%,
if the net price is $500? What is the equivalent single rate of discount? [$687.99 ,
27.33%]
Interest
10. Mr. Thomass charge account statement shows an unpaid balance of $600. The monthly
finance charge is 1.5 percent of the unpaid balance. What is the new account balance?
11. A loan of $10,000 was granted for 90 days at 8 percent ordinary interest. What is the
amount of ordinary interest owed? (HINT: Use bankers interest 360 days a year)
12. In the last 5 year, MAA Mutual Fund grew at the rate of 10.4% per year compounded
quarterly. Over the same period, Public Mutual Fund grew at the rate of 10.6% per year
compounded semi annually. Which mutual fund has a better rate of return?
Percent, Ratio and Proportion
13. It costs $55 to ship 150 pounds of auto parts. How much does it cost to ship 500 pounds?
14.
15. Market Systems provides medical coverage through a group medical plan for employees.
The annual cost of the family membership is $7,250 The company pays 49 percent of the
cost How much do the employees contribute for medical insurance.
GOD BLESS

7
Business Mathematics XI