Self-Test Chapter 6

  1. Calculate the missing values:

    Table Percents Decimals Fractions
    (or mixed numbers)
    in lowest terms
    a. [latex] \displaystyle{10\frac{3}{5}\%} [/latex] ? ?
    b. ? 2.25 ?
    c. ? ? [latex] \displaystyle{\frac{1}{400}} [/latex]
    d. [latex] \displaystyle{\frac{1}{2}\%} [/latex] ? ?
    e. ? 0.002 ?
    f. ? ? [latex] \displaystyle{\frac{53}{200}} [/latex]

For Problems 1 and 2, calculate the missing values.

  1. a. What percent of $30 is $3.75?

    b. 22.5% of $1,500 is how much?

    c. $75 is 15% of what number?


  2. Colton's store expenses for the month of July and August were $33,480 and $36,580, which were 110% and 90% of the budgeted expenditure for the months of July and August, respectively. Calculate the total budgeted expenses for the two months.


  3. Sandra earns an annual salary of $60,000. Every month, she spends $1,400 on rent, $600 on car expenses, $200 on loan repayment, $800 on miscellaneous expenses, and saves $2,000.

    1. What percent of her annual salary is her annual expenses?

    2. If she invests 25% of the $2,000 savings in a mutual fund every month, what percent of the annual salary is invested in the fund over the year.


  4. Calculate the missing values:

    Table Initial value Percent change Final value
    a. $80 ? $125
    b. $725 13% ?
    c. ? 0.5% $4.75
    d. $60 ? $45
    e. $150 –20% ?
    f. ? –4% $297.60
  5. What is the amount of decrease if the initial value was 75 and the percent decrease is 28%?


  6. If a discount of $51 is equivalent to a 60% decrease from the initial value, calculate the initial value.


  7. In 2017, a stock lost 60% of its value. In 2018, the stock's value increased by 80%. Calculate the percent change in the stock's value over the two-year period.


  8. The overall increase in the price of a house from 2016 to 2018 was 4%. If the price increased by 5% from 2016 to 2017 and its value in 2017 was $472,500, calculate the value of the house in 2018.


  9. The price of a share that was purchased for $20 increased by 30% during the first year and decreased by 30% during the second year.

    1. Calculate the value of the share at the end of the two years.

    2. Calculate the percent change in the share price over the two-year period.


  10. The value of a share dropped by $1.25 at the end of the first year, and a further $2.50 at the end of the second year. If the price of the share at the end of the second year was $12.55, calculate the percent change in the price of the share:

    1. For each of the two years.

    2. Over the two-year period.


  11. At what annual interest rate will $650 earn interest of $62.40 in two years?


  12. Calculate the principal which will earn interest of $202.50 at 3.6% p.a. in 15 months.


  13. How much interest would you have to pay on a 180-day loan of $2,190 at 4.2% p.a.?


  14. Ruben's weekly pay is $810. Calculate his annual salary and the equivalent monthly pay.


  15. Kathy's annual salary is $34,944, based on a 35-hour workweek.

    1. What would be her bi-weekly pay?

    2. What is her hourly rate of pay?


  16. An emloyee was receiving a bi-weekly pay of $2,340. If the employer changed the pay period to semimonthly, instead bi-weekly, calculate the employee's semi-monthly pay.


  17. Warren is paid a commission on all his sales. He is paid monthly. Last month his pay was $2,400 and his sales were $32,000. Calculate the commission rate.



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