Fundamentals of Business Mathematics in Canada 3Rd Edition by Jerome - Test Bank

Fundamentals of Business Mathematics in
Canada 3Rd Edition By Jerome – Test Bank
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Sample Test
Chapter 03
Ratios and Proportions

Multiple Choice Questions
1. Express the ratio 0.25: 1.40: 8.50 in its lowest terms:

A.1: 5.6: 34
B. 5: 14: 85
C. 5: 28: 170
D. 2: 28: 170
E. 2: 14: 85

Accessibility: Keyboard Navigation
Difficulty: Easy
Gradable: automatic
Learning Objective: 03-01 Set up and manipulate ratios
Topic: 03-02 Reducing a Ratio to Its Lowest Terms
2. During 2016, Acme Company’s total overhead of $685,000 was
allocated as follows: 18% to division A, 42% to division B, and the
remainder to division C. What is the ratio of the overhead in division A to
the overhead in division B to the overhead in division C in the lowest
terms?
A.18: 42: 40
B. 9: 21: 20
C.
D. 10: 23: 22
E. 18: 42: 50

Difficulty: Moderate
Gradable: automatic
3. Solve the proportion: 2 : 5 = 6 : y

A. 15
B. 5
C. 10
D. 6
E. 12

Difficulty: Easy
Gradable: automatic
Learning Objective: 03-02 Set up and solve proportions
Topic: 03-04 Proportions
4. Solve the proportion: 0.75 : 5.5 = 6 : x

A. 40
B. 44
C. 8
D. 6
E. 24

Difficulty: Easy
Gradable: automatic
5. Solve the proportion: 4 : 7 : 8 = 6 : x : y

A. 12; 10.5
B. 10.5; 12
C. 6; 8
D. 8; 10.5
E. 8; 12

Difficulty: Easy
Gradable: automatic
Topic: 03-05 Proportions with Three Variables
6. Solve the proportion: 2.6 : 5.5 : 10 = 13 : x : y

A. 50; 27.5
B. 5.5; 20
C. 27.5; 50
D. 11; 20
E. 26; 11

Difficulty: Easy
Gradable: automatic
7. Nitin and Sam have invested in a partnership in the ratio of 3:5. If Sam
adds another $10,000 to the business, how much should Nitin invest in
order to maintain the same ratio?
A.$10,000
B. $3,000
C. $5,000
D. $6,000
E. $12,000

Difficulty: Easy
Gradable: automatic
Topic: 03-06 Application: Proration
8. Kuldip and Jane invested $35,000 and $55,000 respectively in a

partnership. Kuldip added another $20,000 and Jane wants to add
enough to maintain their investments in the original ratio. How much
should Jane invest in order to maintain the same ratio?
A.$12,727
B. $30,000
C. $35,000
D. $31,429
E. $25,000

Difficulty: Easy
Gradable: automatic
9. A punch recipe calls for orange juice, ginger ale, and vodka to be mixed
in the ratio of 4.5:2.5:1. How much orange juice and vodka should be
mixed with 2-litre bottle of ginger ale?
A.3.6 litres orange juice; 0.8 litres vodka
B. 3.5 litres orange juice; 0.75 litres vodka
C. 6 litres orange juice; 0.1.25 litres vodka
D. 5 litres orange juice; 1.1 litres vodka
E. 4.1 litres orange juice; 0.9 litres vodka

Difficulty: Easy
Gradable: automatic
10. Mr. Malik is considering a larger house in the same area.

Currently the taxes on his $250,000 home are $3,000 per year. If he
expects that the taxes on other homes in the area are in the same ratio
as the assessed values, what amount of taxes can Mr. Malki expect to
pay on a house assessed at $300,000?
A.$3,200
B. $3,600
C. $3,500
D. $3,000
E. $4,000

Difficulty: Easy
Gradable: automatic
11. A college allows parking permits for students in the ratio of 5.5
students to a parking permit. The college currently has 11,000 students.
The student council did a survey and found that the ratio should be 4:1.
The college has agreed to add the extra parking spaces. How many
more spaces are required to meet the 4:1 ratio?
A.2,750
B. 2,200
C. 1,250
D. 1,150
E. 750

Gradable: automatic
12. Based on past experience, a production process requires 15

hours of direct labour and 2 assemblers for every $450 of raw materials.
If the company has budgeted for $33,750 worth of raw materials, how
many hours of direct labour and how many assemblers will the company
require?
A.112.5; 15
B. 2,250; 300
C. 1,125; 150
D. 112.5; 150
E. 1,125; 300

Gradable: automatic
13. A gym club membership costs $499 for two years. A member may
cancel at any time and a refund less a $75 administration fee will be
issued. The notice of cancellation must be received by the 15th of the
month in order for the cancellation to be effective for the following
month. Najib purchased a membership on March 1st last year, and
decided to cancel it on June 10th of this year. How much of a refund will
Najib receive?
A.$166.33
B. $332.67
C. $257.55
D. $91.33
E. $112.13

Difficulty: Easy
Gradable: automatic
Learning Objective: 03-03 Use proportions to allocate or prorate an amount
on a proportionate basis
14. Aaron, Luc and Isaac invested in a business in the ratio of 3.5: 5:
7.5. The factory that they leased requires renovations of $125,000. If the
partners want to maintain their investments in the business in the same
ratio, how much should each partner pay for the renovations?
A.$58,593.75; $27,343.75; $39,062.50
B. $35,000; $50,000; $75,000
C. $20,000; $40,000; $60,000
D. $27,343.75; $58,593.75; $39,062.50
E. $27,343.75; $39,062.50; $58,593.75

Difficulty: Easy
Gradable: automatic
15. Sam, Domenic, and Sal invested $100,000, $150,000 and

$75,000 respectively in a business. The profits from last year were
$80,000. How much of the profits should each partner receive?
A.$24,615.38; $36,923.08; $18,461.54
B. $25,000; $35,000; $10,000
C. $20,000; $35,000; $15,000
D. $24,615.38; $18,461.54; $36,923.08
E. $36,923.08; $18,461.54; $24,615.38

Difficulty: Easy
Gradable: automatic
16. Susan, Lynda, and Monica opened a consignment dress shop.

The partnership agreement states that the responsibilities for the
provision of capital are in the ratio of 2.5: 3.75: 4.5. If the total
investment in the business was $365,500, how much did each partner
invest?
A.$153,000; $85,000; $127,500
B. $175,000; $150,000; $40,500
C. $150,000; $175,000; $40,500
D. $85,000; $127,500; $153,000
E. $210,000; $115,000; $35,500

Difficulty: Easy
Gradable: automatic
17. Jane, Lynda, and Ginny run a consignment dress store. The
partnership agreement states that the profits are distributed according to
the hours each works in the store. For the month of July, profits are
$8,500. The hours worked by Jane, Lynda and Ginny are 170, 190, and
200 respectively. How should the month’s profits be allocated?
A.$2,000; $3,000; $3,000
B. $3,000; $3,000; 2,000
C. $2,883.93; $2,580.36; $3,035.71
D. $3,035.71; $2,883.93; 2,580.36
E. $2,580.36; $2,883.93; $3,035.71

Difficulty: Easy
Gradable: automatic

$150,000 respectively in a business. In order to expand a further
investment was required. Sal invested $200,000. If the other partners
agreed to provide capital in the same ratio as the initial investment, how
much did Sam and Domenic invest?
A.$166,667; $133,333
B. $133,333; $166,667
C. $150,000; $175,000
D. $175,000; $150,000
E. $133,333; $150,000

Gradable: automatic

$150,000 respectively in a business. In order to expand a further
investment was required. Sal invested $200,000. If the other partners
agreed to provide capital in the same ratio as the initial investment, how
much did Sam and Domenic invest?
A.$166,667; $266,667
B. $250,000; $175,000
C. $266,667; $166,667
D. $175,000; $250,000
E. $266,667; $250,000

Gradable: automatic
20. The current exchange rates show that C$1.00 = US$0.9672. If

you have $120 Canadian dollars, what is the equivalent amount in US
dollars?
A.US$116.06
B. US$143.71
C. US$124.07
D. US$83.50
E. US$100

Difficulty: Easy
Gradable: automatic
Learning Objective: 03-04 Use quoted exchange rates to convert between
currencies
Topic: 03-07 Application: Exchange Rates and Currency Conversion
21. The current exchange rates show that C$1.00 = €0.7448. If you
have $200 Canadian dollars, what is the equivalent amount in euros?
A.€320.71
B. €148.96
C. €136.50
D. €268.53
E. €150.70

Difficulty: Easy
Gradable: automatic
currencies
22. The current exchange rates show that C$1.00 = US$0.9672. If

you have $500 Canadian dollars to exchange and the currency
exchange store charges 2% on all transactions, how many US dollars
will you be able to buy?
A.US$506.62
B. US$425.85
C. US$473.93
D. US$483.60
E. US$586.82

Gradable: automatic
currencies
23. The current exchange rates show that C$1.00 = €0.7448. If you
have $1,000 Canadian dollars to exchange and the currency exchange
charges 4% on all transactions, how many euros will you be able to
buy?
A.€1,342.64
B. €1063.59
C. €1,288.94
D. €715.008
E. €960

Gradable: automatic
currencies
24. The current exchange rates show that US$1.00 = C$1.0339. If

you have $375 US dollars, what is the equivalent amount in Canadian
dollars?
A.C$313.13
B. C$362.70
C. C$300
D. C$315.76
E. C$387.71

Difficulty: Easy
Gradable: automatic
currencies
25. The current exchange rates show that US$1.00 = €0.7700. If you
have $600 US dollars, what is the equivalent amount in euros?
A.€462.00
B. €803.40
C. €779.22
D. €750
E. €450

Difficulty: Easy
Gradable: automatic
currencies
26. The current exchange rates show that US$1.00 = €0.7700. If you
have $450 US dollars to exchange and the currency exchange charges
2.5% on all transactions, how many euros will you be able to buy?
A.€346.50
B. €337.84
C. €584.42
D. €569.81
E. €450

Difficulty: Easy
Gradable: automatic
currencies
27. The current exchange rates show that C$1.00 = £0.6370. If you
have C$250, what is the equivalent amount in British pounds?
A.£392.46
B. £105
C. £159.25
D. £430.97
E. £200

Difficulty: Easy
Gradable: automatic
currencies
28. A hamburger in Canada costs C$5.00, and the same hamburger
costs €5.00 in France. What percentage more is the cost of a
hamburger in France? Use C$1.00 = €0.7448 as the exchange rate.
A.37.6%
B. 39.6%
C. 62.4%
D. 34.3%
E. 0%

Gradable: automatic
currencies
29. A litre of gas costs €1.00 in France. What would be the equivalent
cost in Canada? Use C$1.00 = €0.7448 as the exchange rate.
A.$0.62
B. $0.74
C. $0.85
D. $1.40
E. $1.34

Gradable: automatic
currencies
30. How much will it cost in C$ to buy €2,000 in traveller’s cheques if

the exchange rate is C$1.00 = €0.7448, and the financial institution
charges a fee of ½%?
A.$2,698.71
B. $3,207.17
C. $2,685.28
D. $1,247.20
E. $1,497.05

Gradable: automatic
currencies
31. You can buy euros at a currency exchange store or at the airport.
If you want to buy €250, would it be better to pay a 1% transaction fee
or a flat service charge of $10.00? Use C$1.00 = €0.7448 as the
exchange rate.
A.1% transaction fee is more expensive by $6.64
B. 1% transaction fee is less expensive by $6.64
C. flat service charge is less expensive by $6.64
D. flat service charge is more expensive by $6.64
E. no difference in fee

Gradable: automatic
currencies
32. A bag of popcorn costs C$1.99 in Canada, and the same bag of
popcorn costs US$1.99 in Morgan Hill, California, USA. What
percentage more is the cost of the bag of popcorn in the US than in
Canada? Use US$1.00 = C$1.0339 as the exchange rate.
A.16.5%
B. 80.24%
C. 3.39%
D. 83.5%
E. 19.67%

Gradable: automatic
currencies
33. If the C$ strengthens by 1% relative to the US$ (US$1.00 =

C$1.0339), what will be the new value for the US$ per C$1.00?
A.US$0.8350 per C$1.00
B. US$0.8434 per C$1.00
C. US$1.0339 per C$1.00
D. US$0.9769 per C$1.00
E. US$0.9672 per C$1.00

Gradable: automatic
Learning Objective: 03-05 Relate currency exchange rate movement to
currency appreciation or depreciation
Topic: 03-10 Application: Appreciation and Depreciation of Currencies
34. If the C$ strengthens by 2% relative to the US$ (US$1.00 =

A.US$0.8350 per C$1.00
B. US$1.0339 per C$1.00
C. US$0.8034 per C$1.00
D. US$0.96721 per C$1.00
E. US$0.9866 per C$1.00

Gradable: automatic
35. If the C$ weakens by 1½% relative to the US$ (US$1.00 =

A.US$0.95270 per C$1.00
B. US$0.96721 per C$1.00
C. US$0.8564 per C$1.00
D. US$1.0339 per C$1.00
E. US$0.8572 per C$1.00

Gradable: automatic
36. If the C$ weakens by 2½% relative to the US$ (US$1.00 =

A.US$0.8146 per C$1.00
B. US$0.9430 per C$1.00
C. US$0.8665 per C$1.00
D. US$1.0339 per C$1.00
E. US$0.8651 per C$1.00

Gradable: automatic
37. If the C$ weakens by 1% relative to the euro (C$1.00 = €0.7448),

what will be the new value for the euro per C$1.00?
A.0.6298 per C$1.00
B. 0.6236 per C$1.00
C. 0.7374 per C$1.00
D. 0.6174 per C$1.00
E. 0.6860 per C$1.00

Gradable: automatic
38. If the C$ weakens by 2½% relative to the euro (C$1.00 =

€0.7448), what will be the new value for the euro per C$1.00?
A.€0.6298 per C$1.00
B. €0.6236 per C$1.00
C. €0.6299 per C$1.00
D. €0.7262 per C$1.00
E. €0.6860 per C$1.00

Gradable: automatic
39. If the C$ strengthens by 4% relative to the euro (C$1.00 =

A.€0.5987 per C$1.00
B. €0.7485 per C$1.00
C. €0.4454 per C$1.00
D. €0.7496 per C$1.00
E. €0.7746 per C$1.00

Gradable: automatic
40. If the C$ strengthens by 3% relative to the euro (C$1.00 =

A.€0.7671 per C$1.00
B. €0.7049 per C$1.00
C. €0.7429 per C$1.00
D. €0.4797 per C$1.00
E. €0.8107 per C$1.00

Gradable: automatic
41. If the US$ strengthens by 2% relative to the euro (US$1.00 =

€0.746826), what will be the new value for the euro per US$1.00?
A.€0.7618 per US$1.00
B. €0.7322 per US$1.00
C. €0.7319 per US$1.00
D. €0.7621 per US$1.00
E. €0.8962 per US$1.00

Gradable: automatic
42. If the US$ weakens by 5% relative to the euro (US$1.00 =

€0.746826), what will be the new value for the euro per US$1.00?
A.€0.7842 per US$1.00
B. €0.7095 per US$1.00
C. €0.7861 per US$1.00
D. €0.7113 per US$1.00
E. €0.7855 per US$1.00

Gradable: automatic
43. The basket of goods and services included in the Consumer Price
Index cost $35,750 in the base year. If the same basket cost $43,000
six years later, what was the CPI on that date?
A.83.1
B. 116.7
C. 72.5
D. 120.3
E. 118.4

Difficulty: Easy
Gradable: automatic
Learning Objective: 03-06 Interpret and use index numbers
Topic: 03-11 Application: Index Numbers
44. The basket of goods and services included in the Consumer Price
Index cost $425 in the base year. If the same basket cost $575 ten
years later, what was the CPI on that date?
A.73.9
B. 126.1
C. 115.0
D. 130.4
E. 135.3

Difficulty: Easy
Gradable: automatic
45. The CPI increased from 130.0 to 135.0 over a two-year period. If
a person earned $35,000 at the beginning of the two-year period, how
much would they have to earn at the end of the two-year period to
maintain the same purchasing power?
A.$36,346
B. $36,750
C. $36,296
D. $36,500
E. $40,125

Difficulty: Easy
Gradable: automatic
46. The CPI increased from 125.0 to 132.0 over a three-year period. If
a person earned $40,000 at the beginning of the three-year period, how
much would they have to earn at the end of the three-year period to
maintain the same purchasing power?
A.$42,800
B. $42,240
C. $40,933
D. $42,121
E. $40,250

Difficulty: Easy
Gradable: automatic
47. Nitin earns $15 per hour today. Five years ago he earned $11.75
per hour. During the five-year period the CPI rose from 136.5 to 147.6.
Has Nitin’s buying power increased or decreased and by how much in
current year’s dollars?
A.increased by $2.37
B. decreased by $2.37
C. increased by $2.29
D. decreased by $2.29
E. increased by $1.95

Difficulty: Easy
Gradable: automatic
48. Sally earns $25 per hour today. Seven years ago she earned
$20.75 per hour. During the seven-year period the CPI rose from 136.5
to 158.2. Has Sally’s buying power increased or decreased and by how
much in current year’s dollars?
A.increased by $3.61
B. decreased by $3.61
C. decreased by $0.95
D. increased by $0.95
E. increased by $1.40

Difficulty: Easy
Gradable: automatic
49. Sam is going to ask for a raise. Over the past year, the CPI has
gone from 129.9 to 131.9. Sam currently earns $42,500. What is the
minimum raise that Sam should ask for in order to maintain the same
buying power?
A.$43,350
B. $43,144
C. $44,000
D. $43,500
E. $43,154

Difficulty: Easy
Gradable: automatic
50. Victoria is going to ask for a raise. Over the past year, the CPI has
gone from 119.6 to 122.6. Victoria now earns $45,000. What is the
minimum raise that Victoria should ask for in order to maintain the same
buying power?
A.$46,129
B. $46,350
C. $46,101
D. $46.500
E. $46,100

Difficulty: Easy
Gradable: automatic
51. The price of a box of chalk has increased from $.89 to $1.39 over
a ten-year period. What index number would represent the change in
price over the ten-year period?
A.150.0
B. 156.2
C. 136.0
D. 142.0
E. 148.2

Gradable: automatic
52. The price of a laser printer dropped from $299.99 to $175. What
index number would represent the change in price?
A.125.0
B. 75.0
C. 58.3
D. 71.4
E. 41.7

Gradable: automatic
53. Carol bought 25.5 hectares of land for $63,000. If she buys
another 80 hectares of land at the same price per hectare as her first
purchase, how much must she pay for her second purchase?
A.$247,058.82
B. $197,647.06
C. $200,812.50
D. $260,647.06
E. $308,823.53

Difficulty: Easy
Gradable: automatic
54. Three partners share the partnership’s profit according to the

proportion of the business each owns. Ms. A owns 30%, Mr. B owns
25% and Ms. C owns the remainder. What profit would Mr. B receive if
Ms. A receives $32,500?
A.$108,333.33
B. $8,125.00
C. $24,375.00
D. $27,083.33
E. $30,875.00

Gradable: automatic
55. Total overhead of $235,000 is allocated according to the

proportion of labour hours. Department A used 1830 hours, department
B used 1635 hours, and department C used 1760 hours. What amount
of overhead should be allocated to department C?
A.$119,365.08
B. $155,842.11
C. $115,634.92
D. $82,306.22
E. $79,157.89

Gradable: automatic
56. Suppose C$1.00 is equivalent to US$0.9672. What $C amount

would it cost to purchase US$1565? (Ignore any commission.)
A.$1,513.67
B. $1932.31
C. $2114.28
D. $1,618.07
E. $2762.95

Gradable: automatic
currencies
57. If the “basket” of goods and services included in the consumer

price index (CPI) cost $21,350 in the base year (when the CPI = 100)
and currently costs $28,550, what is the current CPI?
A.133.72
B. 128.63
C. 74.78
D. 125.08
E. 139.77

Gradable: automatic
58. Express the following ratio in its lowest terms. 76: 44: 8
A.38: 22: 1
B. 38: 11: 2
C. 9: 5: 1
D. 19: 11: 2
E. 6: 3: 1

Difficulty: Easy
Gradable: automatic
59. Express the following ratio in its lowest terms. 130: 290: 60
A.2: 4: 1
B. 26: 58: 12
C. 65: 145: 30
D. 58: 26: 12
E. 13: 29: 6

Difficulty: Easy
Gradable: automatic
60. Express the following ratio whose smallest term is 1. 3: 21: 0.75
A.1: 7: 0.25
B. 3: 21: 1
C. 11: 13: 1
D. 1: 7: 25
E. 4: 28: 1

Difficulty: Easy
Gradable: automatic
61. On a typical day Generous Motors sells 3,600 vans, 1,500 pickup
trucks, and 7,800 passenger cars. What is the sales ratio of cars to vans
to pickups?
A.36: 15: 78
B. 1,560: 720: 300
C. 26: 12: 5
D. 78: 15: 36
E. 12: 5: 26

Difficulty: Easy
Gradable: automatic
Topic: 03-01 Ratios
62. To raise money for her hockey team, Juliana collected a total of
$264. Her uncle Vic donated $96, her uncle Dave donated $48 and her
aunt Karen donated the rest. In lowest terms, express the ratio of the
donations of Vic, Dave and Karen.
A.4: 2: 5
B. 5: 12: 26
C. 2: 5: 4
D. 4: 2: 11
E. 5: 2: 4

Difficulty: Easy
Gradable: automatic
Topic: 03-01 Ratios
63. Last year, a company’s salespersons, A, B, and C recorded sales

as follows: “A” recorded three sevenths (3/7) of the total, “B” recorded
one quarter (1/4) of the total and “C” recorded the rest of the sales.
Express, in lowest terms, the sales ratio of A: B: C.
A.3: 7: 4
B. 7: 4: 1
C. 3: 1: 6
D. 21: 7: 28
E. 12: 7: 9

Difficulty: Easy
Gradable: automatic
64. Express the following ratio as an equivalent ratio whose smallest

term is 1. 0.75: 3
A.0.25: 1
B. 4: 1
C. 3: 12
D. 2.25: 1
E. 1: 4

Difficulty: Easy
Gradable: automatic
65. Last year the team won 34 games and lost 17. This year they will
play a total of 15 more games than they played last year. How many
games will they have to win this year to maintain the ratio of wins to
losses from last year? (There are no tie games.)
A.51
B. 24
C. 10
D. 44
E. 48

Difficulty: Easy
Gradable: automatic
66. Solve for X in the proportion: 3: 5 = X: 20

A.15
B. 12
C. 3
D. 0.75
E. 26.666

Difficulty: Easy
Gradable: automatic
67. Solve for X in the proportion: 4.75: 60 = 190: X

A.24
B. 1504
C. 2,400
D. 76
E. 1800

Difficulty: Easy
Gradable: automatic
68. Betty and Lois have already invested $12,450 and $16,600
respectively. If Betty invests another $6,000 what amount should Lois
contribute to maintain their investments in the same ratio?
A.$6,000
B. $7,000
C. $8,000
D. $9,000
E. $4,000

Difficulty: Easy
Gradable: automatic
69. A car requires 8 litres of gasoline to go 88 km. How many litres of

gasoline will be required to go 16 km at the same rate of consumption?
A.1.6
B. 0.5
C.
D. 176
E. 5.5

Gradable: automatic
70. Solve for t in 1.65: 5 = 0.75: t

A.
B. 0.44
C. 1.2375
D. 0.2475
E.

Gradable: automatic
71. Hockey goals and assists each count as one point. Anthony’s
ratio of goals to assists is 2:5. Last season he collected a total of 91
points. How many goals did Anthony score?
A.65
B. 35
C. 26
D. 78
E. 13

Difficulty: Easy
Gradable: automatic
72. Mary paid $1,500 for car insurance at the beginning of the year.
After 5 months she cancelled the insurance and was given a pro-rated
refund based on the number of months remaining on the policy less a
service charge of $100. How much money did she get back?
A.$500
B. $600
C. $625
D. $775
E. $875

Difficulty: Easy
Gradable: automatic
73. A lottery prize was shared by Andy, Betty, and Chris by the ratio
of 15:12:27. If Andy received $ 4,500, how much did Chris get?
A.$11,700
B. $8,100
C. $3,600
D. $16,200
E. $9,900

Difficulty: Easy
Gradable: automatic
74. Axel, Bonita, and Chip are partners in business. The ratio of
ownership of the partnership between Axel, Bonita, and Chip
respectively is 5:4:10. If Bonita’s share is worth $28,000 what is the
value of the whole business?
A.$56,000
B. $35,000
C. $112,000
D. $133,000
E. $70,000

Difficulty: Easy
Gradable: automatic
75. Bonus money totalling $920,000 is to be shared by Dave, Claude,

Marcel, and Larry by the ratio 15: 11: 8: 6. How much will Dave receive?
A.$253,000
B. $460,000
C. $345,000
D. $368,000
E. $312,000

Difficulty: Easy
Gradable: automatic
76. Rodger, Dodger, and Codger own a business in the ratio of 12: 7:
9. The value of the business is $560,000. If Codger sells his share to
Dodger, what will be the new ownership ratio in the form Rodger:
Dodger?
A.4: 3
B. 21: 7
C. 3: 1
D. 4: 5
E. 3: 4

Difficulty: Easy
Gradable: automatic

True / False Questions
77. Analysis of Suzanne’s sales, showed 12% in the West Region,

36% in the North Region, 6% in the South Region and the 46% in the
East Region. The ratio of sales expressed in its smallest term is
2:6:1:2.67
FALSE

Gradable: automatic
78. Mike, Don, and Matt entered a partnership agreement by

contributing $17,000, $42,500 and $54,400 respectively. The proportion
of Mike to Don to Matt’s partnership interests is 1:2.5:3.2.
TRUE

Gradable: automatic
79. The Alberta government’s budget is estimated to be $1.84 billion

for healthcare, $2.3 billion for education and $.46 billion on social
services. Expressed as a proportion the ratio is 0.4:0.5:0.1.
FALSE

Gradable: automatic
Topic: 03-01 Ratios
80. Ajax Corporation has $10 million in debt and $75 in equity. The
debt to equity ratio in lowest terms is 2:15.
FALSE

Gradable: automatic
81. An industrial process requires a mixture of 16% chlorine to alcohol
by weight. The ratio of alcohol to chlorine is also 16% by weight.
FALSE

Gradable: automatic
Topic: 03-01 Ratios
82. The instructions for a batch of extreme punch calls for 400 mL of
ginger ale to 4 litresof fruit juice. The ratio of ginger ale to fruit juice, in
litres, is 0.4:4.
TRUE

Gradable: automatic
Topic: 03-01 Ratios
83. Given the proportion 8 : 10 : 7 = x : 110 : z the value of x and z is

88 and 77 respectively.
TRUE

Gradable: automatic
84. Given the proportion of 1.3 : 2.8 : 1.6 = t : u : 0.68, the value of t
and u is 0.5525 and 1.19 respectively
TRUE

Gradable: automatic
85. Ajax Company had sales of $70 million, Cost of goods of $48.3
million, and Operating Expenses of $1.9. Given the same proportion,
Ballard Company’s sales are $25.2 million if Operating expenses are
$.6.
FALSE

Gradable: automatic
86. The last will of a family stated that assets would be divided on a
3.5: 1.6: 2.9 basis. If $60,000 of assets were sold, then the respective
distributions are $26250,$12000,$21750.
FALSE

Gradable: automatic
87. On March 21, Samantha purchased 500 shares of Microsoft at a

price of US$19.09 at a time when the exchange rate was C$1.02843
per US Dollar. On August 27, Samantha sells all the shares at a price of
US$22.10 at a time when the exchange rate was C$1.03133. Her profit
in Canadian Dollars was C$1,579.83.
TRUE

Gradable: automatic
currencies
88. Nancy goes on a globetrotting escapade, from Vancouver to New

York to Paris. She begins with C$3,000 and converts it to US$. She
spends half of her converted US$ in the New York and the rest she
converts to Euros. Using the information from Table 3.2 and
disregarding any commission, she should have approximately
€1,038.29remaining.
TABLE 3.2 Currency Cross Rates (noon, Toronto, October 30, 2015)
Per C$ Per US$ Per € Per ¥
Canadian dollar (C$) 1.3083 1.4446 0.01084
US dollar (US$) 0.7644 1.1042 0.008286
Euro (€) 0.6922 0.9056 0.007504
Japanese yen (¥) 92.2509 120.6919 133.2657
British pound (£) 0.4950 0.6476 0.7150 0.005366
Swiss franc (Sw fr) 0.7536 0.986 1.0887 0.008169
Australian dollar (A$) 1.0716 1.402 1.548 0.01162
Source: Bank of Canada

TRUE

Gradable: automatic
currencies
Topic: 03-08 Using Exchange Rate Tables
89. Tomiko is planning a trip from Japan to Canada and then to the
United States. She intends to bring ¥300,000 and converting it to
Canadian Dollars. She plans to spend approximately ¾ of her money in
Canada and the remaining in the United States. Using the information
from Table 3.2 and disregarding any commission, she should have
approximately US621.46 remaining to spend in the US.
TABLE 3.2 Currency Cross Rates (noon, Toronto, October 30, 2015)
Per C$ Per US$ Per € Per ¥
Canadian dollar (C$) 1.3083 1.4446 0.01084
US dollar (US$) 0.7644 1.1042 0.008286
Euro (€) 0.6922 0.9056 0.007504
Japanese yen (¥) 92.2509 120.6919 133.2657
British pound (£) 0.4950 0.6476 0.7150 0.005366
Swiss franc (Sw fr) 0.7536 0.986 1.0887 0.008169
Australian dollar (A$) 1.0716 1.402 1.548 0.01162
Source: Bank of Canada

TRUE

Gradable: automatic
currencies
Topic: 03-08 Using Exchange Rate Tables
90. If the price of gold went from U$850 to U$1,400 and the exchange
rate goes from $0.9721 per C$ to $0.9823 per C$, then there will be a
net gain of C$550.83.
TRUE

Gradable: automatic
91. If the Japanese Yen is currently at 100.868 per US$, and the US$
appreciates by 2.1% against the Japanese Yen, then the exchange rate
of Yen per US$ is ¥0.10122.
FALSE

Gradable: automatic
92. If the Canadian Dollar is currently at 1.5698 per UK £, and the £

depreciates by 1.8% against the Canadian Dollar, then the exchange
rate of Canadian Dollar per UK £ is 1.5415.
TRUE

Gradable: automatic
93. In one year, the CPI increased from 105.6 to 106.7. In order to
have the same purchasing power as $100 at the start of the year, you
would need $103.14 at the end of the year.
FALSE

Gradable: automatic
94. Harry’s salary in 2005 was $58,000 at a time when the CPI was at
104.2. If the CPI in 2010 was 125, then Harry’s salary would have to be
64,000 to keep up with inflation.
FALSE

Gradable: automatic
95. The CPI in 2005 was 113.5 and in 2012 was 125.6 if compared to
the base year of 2000, the purchasing power of the Dollar in 2012 was
88.11% of 2000.
TRUE

Gradable: automatic
96. Mike invests $10,000 in the Dow Jones Industrial Index on

January 1, 2006 when the index was at 11,357. At the end of 2016, the
index was at 11,578. The value of Mike’s investment after the ten years
was $10265.60
FALSE

Gradable: automatic
97. A basket of goods cost $250 at the base year. Six years later, the
same basket of goods cost $290. Determine the CPI in year six.
FALSE

Gradable: automatic
98. If a basket of goods cost $630 today when the CPI is at 108.2,
then what did the same basket of goods cost 15 years ago when the
CPI was as 98.6?
FALSE

Gradable: automatic

Short Answer Questions
99. Express the following ratio in its lowest terms: 12:64
= 3:16

Difficulty: Easy
Gradable: manual
100. Express the following ratio in its lowest terms: 56:21
= 8:3

Difficulty: Easy
Gradable: manual
101. Express the following ratio in its lowest terms: 45:15:30
= 3:1:2

Difficulty: Easy
Gradable: manual
102. Express the following ratio in its lowest terms: 26:130:65
= 2:10:5

Difficulty: Easy
Gradable: manual
103. Express the following ratio in its lowest terms: 0.08: 0.12
= 2:3

Difficulty: Easy
Gradable: manual
104. Express the following ratio in its lowest terms: 2.5: 3.5: 3
= 5:7:6

Difficulty: Easy
Gradable: manual
105. Express the following ratio in its lowest terms: 0.84: 1.4: 1.96
= 3:5:7

Difficulty: Easy
Gradable: manual
106. Express the following ratio in its lowest terms: 11.7: 7.8: 3.9
= 3:2:1

Difficulty: Easy
Gradable: manual

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If face any problem or Further information contact us At tbzuiqe@gmail.com

1. Express the ratio 0.25: 1.40: 8.50 in its lowest terms:

3. Solve the proportion: 2 : 5 = 6 : y

4. Solve the proportion: 0.75 : 5.5 = 6 : x

5. Solve the proportion: 4 : 7 : 8 = 6 : x : y

6. Solve the proportion: 2.6 : 5.5 : 10 = 13 : x : y

8. Kuldip and Jane invested $35,000 and $55,000 respectively in a

10. Mr. Malik is considering a larger house in the same area.

12. Based on past experience, a production process requires 15

15. Sam, Domenic, and Sal invested $100,000, $150,000 and

16. Susan, Lynda, and Monica opened a consignment dress shop.

18. Sam, Domenic, and Sal invested $100,000, $125,000 and

19. Sam, Domenic, and Sal invested $200,000, $125,000 and

20. The current exchange rates show that C$1.00 = US$0.9672. If

22. The current exchange rates show that C$1.00 = US$0.9672. If

24. The current exchange rates show that US$1.00 = C$1.0339. If

30. How much will it cost in C$ to buy €2,000 in traveller’s cheques if

33. If the C$ strengthens by 1% relative to the US$ (US$1.00 =

34. If the C$ strengthens by 2% relative to the US$ (US$1.00 =

35. If the C$ weakens by 1½% relative to the US$ (US$1.00 =

36. If the C$ weakens by 2½% relative to the US$ (US$1.00 =

37. If the C$ weakens by 1% relative to the euro (C$1.00 = €0.7448),

38. If the C$ weakens by 2½% relative to the euro (C$1.00 =

39. If the C$ strengthens by 4% relative to the euro (C$1.00 =

40. If the C$ strengthens by 3% relative to the euro (C$1.00 =

41. If the US$ strengthens by 2% relative to the euro (US$1.00 =

42. If the US$ weakens by 5% relative to the euro (US$1.00 =

54. Three partners share the partnership’s profit according to the

55. Total overhead of $235,000 is allocated according to the

56. Suppose C$1.00 is equivalent to US$0.9672. What $C amount

57. If the “basket” of goods and services included in the consumer

63. Last year, a company’s salespersons, A, B, and C recorded sales

64. Express the following ratio as an equivalent ratio whose smallest

66. Solve for X in the proportion: 3: 5 = X: 20

67. Solve for X in the proportion: 4.75: 60 = 190: X

69. A car requires 8 litres of gasoline to go 88 km. How many litres of

70. Solve for t in 1.65: 5 = 0.75: t

75. Bonus money totalling $920,000 is to be shared by Dave, Claude,

77. Analysis of Suzanne’s sales, showed 12% in the West Region,

78. Mike, Don, and Matt entered a partnership agreement by

79. The Alberta government’s budget is estimated to be $1.84 billion

83. Given the proportion 8 : 10 : 7 = x : 110 : z the value of x and z is

87. On March 21, Samantha purchased 500 shares of Microsoft at a

88. Nancy goes on a globetrotting escapade, from Vancouver to New

Per C$ Per US$ Per € Per ¥

Canadian dollar (C$) 1.3083 1.4446 0.01084

US dollar (US$) 0.7644 1.1042 0.008286

Euro (€) 0.6922 0.9056 0.007504

Japanese yen (¥) 92.2509 120.6919 133.2657

British pound (£) 0.4950 0.6476 0.7150 0.005366

Swiss franc (Sw fr) 0.7536 0.986 1.0887 0.008169

Australian dollar (A$) 1.0716 1.402 1.548 0.01162

Source: Bank of Canada

Per C$ Per US$ Per € Per ¥

Canadian dollar (C$) 1.3083 1.4446 0.01084

US dollar (US$) 0.7644 1.1042 0.008286

Euro (€) 0.6922 0.9056 0.007504

Japanese yen (¥) 92.2509 120.6919 133.2657

British pound (£) 0.4950 0.6476 0.7150 0.005366

Swiss franc (Sw fr) 0.7536 0.986 1.0887 0.008169