Gabriel Taborin College of Davao Foundation, Inc.

Lasang, Davao City

FIRST QUARTERLY EXAMINATION

SY 2023-2024

BUSINESS MATHEMATICS

Name:_____________________________________ Grade & Strand:_______________ Date:________

Instructor: Alelei P. Bungalan, CHRA Score:______________________

TEST I: Multiple Choice (20pts)

Instruction: Encircle the correct answer.

1. It is charge or fee paid for using somebody’s money.

a. rate b. interest c. cash d. credit
2. Jointly proportional to the amount involved and the length of time it is in use.
a. rate b. interest c. cash d. credit
3. Time in days divided by 365.
a. Exact Interest b. Interest Rate c. Ordinary Interest d. No Interest
4. Time in days divided by 360.
a. Exact Interest b. Interest Rate c. Ordinary Interest d. No Interest
5. A commission structure where a sales agent is paid a predetermined salary and additional
compensation in the form of commission.
a. Commission with Qouta b. Straight Commission c. Graduated Commission d. Salary PlusCommission
6. Prescribed amount of sales.
a. Salary b. commission c. Qouta d. wage
7. Which of the following does not belong to the variety of commission.
a. Life Insurance Sales b. Non-life Insurance Sales c. Vehicle Sales d. Midnight Sales
8. Payment of work or service rendered that is computed on hourly, daily, or weekly basis.
a. Wage b. salary c. money d. benefits
9. Form of wage that is fixed and computed weekly, every 15 days, or monthly.
a. Wage b. salary c. money d. benefits
10. Those who are hired for a specific project only.
a. Contractual employees b. Probationary employees c. wage earners d. salary earners
11. Those who are hired for the purpose of hiring them permanently as their skills or expertise are needed
for the continued operations of the company.
a.Contractual employees b. Probationary employees c. wage earners d. salary earners
12. A law that exempted all types of benefits including overtime pay received by minimum wage earner.
a. COLA b. COCA c. JEEP d. TRAIN
13. It refers to a number of days that the regular employee may be absent from work without incurring
deductions.
a. Service Incentive Leave b. Vacation Leave c. Sick Leave d. Maternity Leave
14. It was created to provide private employees and their families with potection against disability,
sickness, old age, and death.
a. Pag-IBIG b. Philhealth c. SSS d. TIN
15. This is the fund that provides employees with assistance in cases of hospitalization of the employee or
his or her dependents.
a. Pag-IBIG b. Philhealth c. SSS d. TIN
16. This fund is used by the members who wish to avail of a housing loan which is payable in 10 or even
25 years.
a. Pag-IBIG b. Philhealth c. SSS d. TIN
17. The excess workload beyond 4:00pm is called _____.
a. overtime pay b. overtime work c. holiday work d. holiday pay
18. Payment of of the regular daily wage for any unworked holiday.
a. overtime pay b. overtime work c. holiday work d. holiday pay
19. It is computed by multiplying the overtime rate with the number of hours in excess of the regular eight
hours of work.
a. overtime pay b. overtime work c. holiday work d. holiday pay
20. Which of the following does not belong to the regular holidays.
a. Maundy Thursday b. Labor Day c. Black Saturday d. Christmas Day
TEST II: Applying (10pts)
Instruction: Complete the table.
Principal Rate Time Interest Amount
1. ₱20,000 6% 3½
2. 9% 15 months ₱5,400
3. ₱36,000 3½% ₱37,800
4. ₱87,000 5 years and 2 ₱10,113.75
months
5. 2% 4 years and 3 ₱81,375
months

TEST III: Performing (20pts)

Instruction: for each problem, analyze and indicate the following:
a. Basic Salary
b. Total Sales
c. Qouta
d. Commission computation (provide the eqaution only)

Use a zero to indicate no entry is needed. There is no need to solve the problem.

1. A sales agent receives 15% commission on all products that he sells. If the sales agent sold ₱230,450
worth of products this month, what was his total commission for the month?
a. Basic Salary ________________________
b. Total Sales _________________________
c. Qouta______________________________
d. Commission computation _______________________
2. James receives a basic monthly salary of ₱11,500. As a sales agent, he must sell ₱150,000 worth of
items per month. Aside fro, the basic salary, he is also entitled to a 6% commission on all sales beyond
the monthly qouta. If James sold ₱280,500 worth of items this month, what is his total earning for the
month?
a. Basic Salary ________________________
b. Total Sales _________________________
c. Qouta______________________________
d. Commission computation _______________________
3. Joriz gets a base monthly salary of ₱14,500. As a sales agent, he must sell ₱75,000 worth of items per
month. He also makes a 7.5% commission on all sales beyond the monthly qouta. If Joriz sold
₱140,000 worth of items this month, what is his total salary for the month including the base salary
and commission?
a. Basic Salary ________________________
b. Total Sales _________________________
c. Qouta______________________________
d. Commission computation _______________________
4. Khissa makes a basic monthly salary of ₱10,500. As a beauty product agent, she must sell ₱50,000
worth of items per month. Aside from the basic salary, she also gets a 6% commission on all product
sales beyond the monthly qouta. If Khissa was able to sell ₱93,400 worth of beauty products this
month, what is her total salary for the month?
a. Basic Salary ________________________
b. Total Sales _________________________
c. Qouta______________________________
d. Commission computation _______________________
5. Jodyl works for a company that sells lamps. He is given a salary of ₱2,000 a month and a commission
of 5% on his sales. If his sales for the month of September amount to ₱125,675.25, how much is his
total income for the month?
a. Basic Salary ________________________
b. Total Sales _________________________
c. Qouta______________________________
d. Commission computation _______________________
TEST IV. Enumeration(20pts)

Benefits of Wage Earners Give at least 5 regular holidays

1. 11.
2. 12.
3. 13.
4. 14.
15.

Give at least 6 de minimis benefits Give at least 5 Special non-working days

5. 16.
6. 17.
7. 18.
8. 19.
9. 20.
10.

TEST V. Applying (30pts)

Instructions: Using the information gathered from the following file of employees, complete the spreadsheet
of ABC Corporation and create the payslips for each of the four coworkers of Betty for the 15 th of June based
on the following:
Employee Name Roxas, Grace R. Poe, Mario A. Binag, Rody R. Ang, Ferdie M.
Employee Number 2001-24 2001-25 2001-26 2001-27
Monthly Salary ₱20,000 ₱18,000 ₱25,000 ₱44,000
SSS Contribution ₱581.30 ₱581.30 ₱581.30 ₱581.30
PhilHealth Contribution ₱275.00 ₱247.50 ₱343.75 ₱550.00
Pag-IBIG Contribution ₱100.00 ₱100.00 ₱100.00 ₱100.00
No. of days Absent 2 1 3 1
OT Hrs Ordinary Day 4 4
OT Hrs Regular Holiday 6
OT Hrs Special Holiday 3
OT Hrs Rest Day 5 8