Dear Students; the following is the agreed quiz for March 12, 2010. Please do your best to complete in 40 minutes.
College Math for Primary Teachers Quiz No. 2 March 6, 2010
Solve all the following problems. It is to your advantage to show how you solved each problem.
1. Mr. Perez sold his car which had cost him $3 500 at a loss of
15%. Calculate: a. What was his loss. b. How much GST would be paid by the new buyer if 10% GST is charged on the new price.
2. A house wife purchased a video recorder for $2 980. Her
initial down payment was 20%. If she pays 36 additional monthly installments of $125, calculate: a. The total amount paid. b. The percent interest charged for the item.
3. Mr. Mai bought 25 mangoes for $17.50. If he sold 12 mangoes
for 60 cents each, and the remainder for 55 cents each, calculate whether he makes a profit or a loss.
Use the following to solve the problem: power rate:
1st 50 kWh .34 per kWh 51-150 kWh .39 per kWh 151 and above .51 per kWh
Max's light bill shows a previous reading of 17 024 and a
present reading of 17 974. a. Calculate the total kWh used for this month. b. Calculate the daily average consumption if it is the month of March. c. Calculate how much he will pay for the month if he includes 12% GST.
5. Water rate: 1st 1 000 gallons - $7.50
2nd 1 000 gallons - $8.00 3rd 1 000 gallons – $10.00 4th 1 000 gallons and above - $12.50
Present Reading: 50 210 Previous Reading: 41 510 i. Calculate the amount of gallons consumed. ii. Calculate the monthly bill. iii. How much will be refunded if there is a 22.5% refund this month on the total bill?
6. A bicycle costs $225. and is sold for $350.
a. Calculate the percent profit. b. At what price should it be sold to have only a 12.5% profit?
7. Find the number of years in which $500 invested at 9% per
annum will earn $450.
8. You obtain a $10 000 student loan at a simple interest rate
of 9.5 % for 5 years. The first 2 years you only pays the required interest based on the agreed simple interest rate. a. Calculate your monthly payments on the interest charges for the first two years. b. What should be your monthly installments after the second year if the entire loan is paid off as agreed?