KCD Technical Institute

National Highway, Brgy. II Poblacion

Alaminos, Laguna

Name: Section:
Date: Teacher: Sir. Jeffrey de Belen

2nd Quarterly Examination on Business Math

STRICTLY NO ERASURES/ALTERATIONS

Read the instructions carefully.

I. Identification. Fill in the blanks with the correct answer; Write your answer on the space provided
before each number.

_______________1.The price of a merchandising business or retailer pays for a product.

_______________2.The price for which a merchandising business or retailer sells a product to a customer.

_______________3.The difference between selling price and cost.

_______________4.A price reduction from the original selling price or merchandise.

_______________5.The reduction from list price, it is typically offered between manufacturer and wholesaler
or between wholesaler and retailer.

_______________6.The suggested price of an item, which was set by the manufacturer or supplier.

_______________7.This type of loan is given to retail customers or individuals for personal purposes.

_______________8.This type of loan is lent to companies or business enterprise to finance their business
operating costs.

_______________9.It is a long term loan.

_______________10.Loan that can be borrowed over and over.

II. TRUE OR FALSE. Write T if the statement is True and Write F if the statement is False.

______1.Actual time uses 30 days in every month.

______2.The loan date is the first day of a loan.
______3.The amount borrowed is called principal.
______4.I= Prt
______5.Commission is the fee or rent that lenders charge to borrowers for the temporary used of borrowed
money.
______6.Approximate time uses the exact number of days in every specific month.
______7.Amortization period is the length of time over which a loan is scheduled to be fully repaid.
______8.Exact interest is computed in a 365 days in a year as the time factor denominator.
______9.Carrying Charge= Installment Price – Cash Price
______10.Straight commission is given to salespersons who do not receive a regular salary.

III. Answer the following:

Find the interest on Php. 28 700 at 7.3% from March 14, 2016 to August 16, 2016 using the following:

a. approximate and actual time, (3pts)

b. ordinary interest using actual time, (3pts)

c. ordinary interest using approximate time, (3pts)

d. exact interest using actual time, (3pts)

e. exact interest using approximate time. (3pts)

IV. Problem Solving (5pts each)

1. A hot and cold water dispenser sells for Php. 8 021.50. The markup on it is 31.5% of cost. Find the cost.
2. If all the merchandise, with a selling price of Php. 7 800 is to be sold for Php. 6 474. Find the
markdown.

3. Find the net price of a shirt listed at Php. 925.00. The retailer is granted a 20% trade discount.

4. What amount of interest will be charged on Php. 7 300 borrowed for 3 years at a simple interest rate of
12% per annum.

5. The Fernando’s bought a 55’’ LED Television. It had a cash price of Php. 98 700. They agreed to pay
for it in six (6) months with monthly payments. If the carrying charge was Php. 7 800, what was their
installment payment.

Noted and Approved by: Prepared by:

Anicia R. Ciabal Jeffrey de Belen

SHS Head Teacher Business Mathematics Teacher