Republic of the Philippines

Department of Education
REGION I
SCHOOLS DIVISION OFFICE I PANGASINAN
BANI NATIONAL HIGH SCHOOL
SAN JOSE, BANI, PANGASINAN

SUMMATIVE TEST
BUSINESS MATHEMATICS
GRADE 12

DIRECTION: Read the questions carefully. Choose the letter of your answer. Use the attached
answer sheet.
1. The price that has to be spent to produce goods or services before any profit is added.

A. Selling price C. Cost price

B. Operating expenses D. Mark-up

2. The price at which the commodity is sold per unit.

A. Selling price C. Cost price

B. Operating expenses D. Mark-up

3. The money earned after the cost price and the operating costs are accounted for after the
sale of a commodity.

A. Mark-up C. Profit
B. Mark-down D. Loss

4. It is sometimes referred to as margin or gross profit.

A. Mark-up C. Profit
B. Mark-down D. Loss

5. The difference between the regular selling price and the sale price.

A. Mark-up C. Profit
B. Mark-down D. Loss

6. The price (per unit) incurred relative to the production and sale of a commodity.

A. Cost price C. Selling price

B. Operating expenses D. Break-even

The Cellphone Company buys iPhones at PhP24,000. Expenses are set at 17% of the selling price and
the required profit is set at 20% of the selling price. During a weekend sale, the iPhone is sold at 10%
discount.
7. What is the regular selling price of the iPhone?
A. PhP 38,095.24 C. PhP 38,095.42
B. PhP 28,800.00 D. PhP 28,080.00
8. What is the sale price of the iPhone?
A. PhP 25,285.27 C. PhP 23,319.05
B. PhP 22,476.19 D. PhP 25,285.72
9. How much is the operating expenses of the Cellphone Company?
A. PhP 4,800.00 C. PhP 4,095.24
B. PhP 4,776.19 D. PhP 4,776.91
 Republic of the Philippines
Department of Education
REGION I
SCHOOLS DIVISION OFFICE I PANGASINAN
BANI NATIONAL HIGH SCHOOL
SAN JOSE, BANI, PANGASINAN

10. How much did The Cellphone Company gain or lose when the iPhone was sold during the weekend
sale?
A. PhP 3,490.47 C. PhP 3,940.74
B. PhP 4,390.47 D. PhP 4,930.74

Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. Its items are sold at a mark-up of
40% of the selling price.
11. What is the regular selling price of the TV set?
A. PhP 6,825.00 C. PhP 8,562.00
B. PhP 8,265.00 D. PhP 8,625.00
12. What was the cost of the TV set?
A. PhP 3,450.00 C. PhP 5,430.00
B. PhP 5,175.00 D. PhP 3,540.00
13. What is the rate of mark-up based on cost for the TV set?
A. 66% C. 40%
B. 66.66% D. 6%
14. If overhead expenses are at 27% of the cost, what is the break-even price of the TV set?
A. PhP 6,572.25 C. PhP 6,752.25
B. PhP 5,762.52 D. PhP 5,672.52
15. If the TV set is sold at PhP7,500, how much profit or loss is incurred by Appliance Store?
A. PhP 1,125.00 C. PhP 4,050.00
B. PhP 2,325.00 D. PhP 927.75

Prepared by:
Checked by:
SHELLA B. BOTON
Subject Teacher ROSEMARIE C. CAMBA Noted:
Head Teacher III in-charge(SHS)
JEANNETTE C. LIWALIW PhD
Principal IV