4001LBUSAF Workshop 1 tutorial questions

Rounding numbers
1) Round the following numbers
a) 5.7554 to 3 decimal places (3 d.p)
b) 0.791 to 1 d.p
c) 53.109 to 2 d.p

Now round them to 2 significant figures

2) Using your calculator convert the fraction 15/17 into a decimal then round it to
a) four decimal places
b four significant figures

Rounding error
1) A haulage company estimates that the round trip from A to B is 240 kilometres to the
nearest 10 kilometres what is the maximum and the minimum possible distance that the trip
could be.

2) If sales revenue are estimated as £2,000 to the nearest £100, and costs are estimated to be
£1,250 to the nearest £10. Calculate the estimated maximum and minimum profits for the
business.

3) A manufacturing process uses an estimated 1,000 litres of chemical, accurate to the nearest
100 litres. Each litre has an estimated purchase price of £70 accurate to the nearest £10.
Calculate an estimate of the maximum and minimum total cost of chemicals used in the
manufacturing process.

Ratios
1) business partners Al, Barry, Gary and Dave share profits of £750,000 in the ratios
1:3:5:4 respectively.
Calculate in each case the share of profits that each partner will receive.
If Dave leaves the business and the ratio changes to 1:2:3 for the remaining partners calculate
how much each partner will receive if profits fell to £650,000.

Percentages
1) Calculate 21% of £4,000

2) Value Added Tax(VAT) of 8% has been included in an invoice total of £245. What was
the invoice value prior to the VAT charge.

3) Bobs had a pay rise of 3% this has resulted in a weekly wage of £240 Find the weekly pay
before the pay rise.

4) Sales revenue for Gee Ltd was £550,000 in year 1. It is estimated that sales will fall by 4%
in year 2. Calculate the year 2 sales revenue.

5) A travel agent is offering reductions of 18% on their advertised holiday prices. If a

holiday is currently advertised as £1,250 calculate the price after the 18% reduction.
Percentage change
1) Three years ago a business sold large scented candles for £15 each. Over the following
two years it raised its prices by 4% and 6% respectively
a) Calculate the price after each of these price rises and
b) Calculate the overall percentage price rise

2) A business reduces the price of its televisions from £999.99 to £899.99 calculate the
percentage reduction in the selling price.

Basic algebra
1) a) Find the value of A when P= 4,000 AND i= 0.03 and n = 4.6 in the following formula
A = P(1+i)ⁿ
b) Make P the subject of the formula

2) a) In the formula Rₐ = Rf + β(Rm -Rf )

Calculate Rₐ when β = 1.55, Rf = 2.2% and Rm = 4%
b) Make β the subject of the equation.

3) Solve 3x+8< 7x -9

Equation of a straight line

1) Write down the equation of the straight line whose gradient is 2 and the intercept on the y
axis is at point (0, - 5).

2) In the equation 5x+3y = 4 , calculate the gradient of the line and the y intercept.

Simultaneous equations
Solve the following simultaneous equations:
1) 2x+3y=8, 2x-3y=2
2) 2x+3y=5, 3x+4y=7
3) 3p+2q=4, 2p+3q=7
For each linear equation calculate two points, that would allow you to graph the equation.

Business models

Quadratic and other non linear equations

1) For the equation y=3x2+4x-5 calculate the coordinates of five points on this curve that
could be used to draw its graph

2) For the equation y=2x4+4x3- 5x calculate the coordinates of six points on this curve that
could be used to draw its graph
Geometrical progressions
1) In the geometrical progression 1+1/5+1/25+… what is the common ratio: calculate the
sixth term.
2) The sum of a geometrical progression is given by the formula
Sn = a(1-rn )
(1-r)
a) Use this formula to find the sum of the first 10 terms in the geometrical progression
1/3 -1/9+1/27…

b)The total sum (to infinity) of a geometrical progression (where it exists) is given by
S = a/(1-r)
Use this formula to calculate the total value of the progression in part “a”

3) A business is currently expanding its sales by 2% per month, if its sales in month 1 were
£1,500 what will be its sales in month 6, and what will be the total sales in the first 24
months.