Math 115 - Test #1 Review

Show all work for every problem (Answers to this are shown in parentheses in red)

Change the following to percentages:

1) 1½ (150%) 2) 0.045 (4.5%) 3) 42 (4200%)

Change the following percentages to decimal form:

4) 100% (1) 5) 4½% (0.045)

Solve for the following (Part, Base or Rate):

6) What is 20% of 160? (32) 7) 55 is what percent of 50? (110%)

Solve for the variable in the following equations:

8) 3x + 2 = -2x – 23 (-5) 9) ¼ x + ½ = ¾ x – 4 (9)

Using Part, Base and Rate as Proportion or Equations or PBR Circle, answer the following questions:

8) A team won 70% of the games it played. If the team won 21 games, how many games did they play that
season? (30)

9) In a survey of 900 voters, 495 expressed support for Candidate A. What percent of those surveyed supported
candidate A? (55%)

10) Forty percent of the students on a field trip love the museum. If there are 20 students on the field trip, how
many love the museum? (8)
Business Math Questions: Think through these carefully and answer the following questions:

11) If the orginal cost of a TV is $60.00 and it is increased by 20%, how much has been added to the original
price? (12)

12) A store advertises 15% off an item that regularly sells for $300.

a. What is the sale price of the item? (255)

b. If 8% tax is charged on the sale price, what is the total amount with tax? (275.40)

13) K-Mart sells a toaster for $35.00, which includes a $15.00 markup.

a. What is the original cost? (20)

b. Find the percent markup. (75%)

14) Tech Deals buys a computer at wholesale cost for $300 and then markup the price by 50%.

a. What is the markup on the cost of the computer? (150)

b. What is the selling price of the computer to consumers? (450)

15) A house that normally sells for $200,000 in Montgomery County has been reduced to $180,000. The sales
tax in this county is 6%.

a. Find the reduction rate. (10%)

b. A couple purchase the house at the reduced rate and then pay the final amount with the tax included. How
much is the final bill? (190,800)

Solve the following questions on Simple Interest:

16) Solve for principal: Interest = $125, Rate = 4%, Time = 5 years (625)
17) Find the interest if $350,000 is deposited at a rate of 6% for 4 years? (84,000).

ii) Find the matured value after those years. (434000)

18) Erica’s parents gave her $500 for high school graduation. She put the money into a savings account that
earned 7½ % annual interest. She left the money in her account for nine months before she withdrew it.

a. How much interest did the account earn if the interest is paid monthly (28.13)

b. About how many years and months would she have to leave the money in the account if she wants to reach
her goal of saving $750? (6 years and 8 months)

19) Compare the Interest of banks A and B if $3,000 is deposited at a rate of 5% for 90 days on the condition
that:

a. Bank A uses Ordinary Interest Method b. Bank B uses Exact Interest Method

(37.50) (36.99)
20) A couple would want to buy a Toyota Sienna family car on Presidents’ Day. They have narrowed down
their options to two as follows:

Husband’s choice: Buy a $21,000 car from Delaware (at 0% sales tax) with 5% discount. (19,950.00)

Wife’s choice: Buy a $18,000 car from Pennsylvania (at 6% sales tax) with 2% discount. (18,698.40)

Which is a better buy?