Kimamon National High School

Senior High Department

Kimamon, Sto. Tomas, Davao del Norte
Second Quarter Examination for the 1st Semester
October 19-20, 2017
BUSINESS MATHEMATICS
Name:_________________________________Section:______________Date:_____________Score:________

A. IDENTIFICATION. Identify the following statement. Write your answer before the number.
_______________1. The amount borrowed.
_______________2. Refers to amounts added to the original selling price to arrive at a new selling price.
_______________3. Expenses incurred to run the business like rent, supplies, utilities, etc.
_______________4. Is a reduction from list price granted to buyers, either be a single discount or a series of discounts.
_______________5. Is the term of period of the loan.
_______________6. Refers to reduction in the original selling price.
_______________7. Is what remains of the selling price (sales) after all costs and expenses had been deducted.
_______________8. Is the sales discount granted by the seller to the buyer.
_______________9. Refers to the decrease in the new selling price that does not decrease it below the original selling
price.
______________10. Refers to the purchase price of an article.

B. PROBLEM SOLVING
1. Complete the following table.

Original Selling Price New Selling Price Markdown Markdown Rate

a. ₱320 ₱280
b. ₱625 ₱575
c. ₱300 20%
d. ₱475 30%
e. ₱644

2. Prepare an income statement of the following data for the Summit Marketing Co. as of January 31, 201A.

Sales ₱127, 500

Purchases (merchandise) 57, 000
Freight In 5, 000
Taxes and Licenses 900
Communication Expense 300
Heat, Light, and Water 1, 240
Store Supplies Expense 1, 180
Office Supplies Expense 730
Miscellaneous Expense 2, 090

3. An article was given an 18% discount amounting to ₱756.00. Find:

a. List Price
b. NIP rate
c. Net Invoice

4. Compute for I and F and place your answers on the space provided.

P r t I F
a. ₱1,000 10% 3 years
b. ₱2,000 2% / month 2 years
c. ₱640 1% / month 3 quarters