MA101 REVIEW QUESTIONS – PART 1/3

Module 1.1: Introduction

 150 
$4, 456 1 + 0.06 × 
(1) Evaluate  365 
190
1 + 0.08 ×
365

Module 1.2: Simple and Weighted Averages

(2) Kelly invested $6,000 at 5.0 %, $14,000 at 4.2% and $25,000 at 5.8%. What is the
average rate of interest earned on her investments?

(3) You spend 25% of your disposable income on food, 15% on clothing, 40% on housing
and 20% on transportation. What is your average price increase or decrease if food prices
decrease by 8%, clothing prices decrease by 10%, housing prices increase by 6%, and
transportation costs increase by 12%.

(4) Find your GPA if you receive 80% in a 3 unit course, 75% in a 4 unit course and 90% in
a 2 unit course.

Module 1.3: Payroll and Wages

(5) Mr. Smith had gross earnings of $780.00 for the week. If he receives a base salary of
$360.00 on a quota of $9,000 and a commission of 5% on sales exceeding the quota, what
were Mr. Smith's sales for the week?

(6) John is paid $30 per hour with a regular work week of 40 hours and overtime at time
and one-half. What would John’s gross pay be for a week in which he worked 47 hours?

(7) If you receive an annual salary of $42,510,

(a) What would be your semi-monthly pay?
(b) What would be your hourly rate of pay if you work 37.5 hours per week?

(8) (a) What is a salesperson's commission on net sales of $62,000 if the commission is
paid on a sliding scale of 6.0% on the first $25,000, 8.0% on the next $25,000 and 10.0% on
any additional net sales?
(b) What single rate of commission on the net sales of $62,000 would provide the
salesman with the same earnings as in part (a)?

Module 1.4: GST/PST/Property Tax

(9) If you paid $135.60 including 13% HST what was the price before the tax?

(10) If your gas receipt included $8.45 in HST (13%) what was your total invoice for gas?

(11) You pay $3,456.00 annually in property tax on a house valued at $345,000. What is the
Mill Rate (to 4 decimal places) in your municipality?

Annual Property Tax = Mill Rate x Assessed Value/1,000

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Module 2.1: Review of Basic Algebra

2x 3 1 1
(12) (a) Simplify: 15 x 3 − 2 ( 4 x − 3) − 5 x  (b) Simplify: − −1 x +
1.25 5 4 2
(c) Evaluate: 4
100 − 4.52 (d) Solve for x: 42.875 = x 3

Module 2.2: Manipulation of Formulas

t 4.5
(13) (a) Solve for y: =v ( x + y) (b) Solve for x: y= p −
20 x
S P (1 + i )
n
(c) Solve for i: =

Module 2.3: Solving Basic Equations

(14) (a) Solve for a: 3( a + 6) − 2 (3 − a )= 2 ( a + 2)
x $4,500
x (1.04 ) + $2, 250 +
4
(b) Solve for x: 5
=6
1.04 1.04

Module 3.1: Solving Basic Percent Problems

(15) (a) 25% of 84 is what number? (b) $160 is 250% of what amount?

(c) 48 is 60% of what number? (d) What percent of 35 is 28?

(e) What percent of 80 is 96? (f) What amount is 20% less than $185?

(g) 25% of what number gives will give you 22?

(16) A company laid-off 25% of its work force. The number of employees after the layoff is
1,800. How many employees were there before the layoff?

(17) After real estate fees of 4% had been deducted from the proceeds of a sale, the seller
of the property received $523,200. What were the real estate agents fees?

(18) A property owner listed their property for sale for 150% more than what they paid for it.
After receiving no offers they dropped the List Price by 10%, to $270,000 and sold the
property. What did the property owner initially pay for the property?

Module 3.2: Solving Basic Percent Change Problems

(19) (a) What number is 35% less than 80? (b) 210 is what % more than 85?

(20) The price of common shares of Tri-Vista Capital was valued at $24.00 at the end of
2010. The shares increased by 7.5% in 2011, and overall increased by 15.5% (from
the beginning of 2010 to the end of 2011).
(a) What was the price of each share at the beginning of 2010?
(b) What was the percent increase for 2010?

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MA101 REVIEW QUESTIONS – PART 1/3

(21) A company which sold its products in 4.6 kg containers has reduced its container size
to 3.6 kg. The retail price also dropped from $1.71 to $1.41.
(a) What was the percent change in price?
(b) What was the percent change in container size?
(c) What was the percent change in the unit price?

% change = [(Final Value – Initial Value)/Initial Value] x 100

Module 3.3: Ratios

(22) Find the unknown term 26:n = 6.5:5.

(23) On a typical day, the order administration department processes 140 invoices, 350
work orders and 910 estimates. What is the ratio of invoices to work orders to
estimates? Reduce to the lowest common ratio.

(24) The Brown’s assets are to be divided amongst their three children, Anna, Bobby and
Carl, in the ratio of 6:5:4.
(a) If Carl received $7,500 from the sale of stocks, what amount should Anna receive?
(b) What amount should Bobby receive from the sale of his parents' boat for $22,500?

Module 3.4: Proportions

(26) Three partners share the partnership’s profit according to the proportion of the
business each owns. Smith owns 40%, Jones owns 35% and Brown owns the
remaining 25%. What profit would Brown receive if Smith receives $25,600?

(27) A heater will run for 3.5 hours on 5 litres of gasoline. How many litres will it
take to run the heater for 16.5 hours?

(28) Mr. Gibson owns two-fifths interest in a partnership. He sold three-eights of his interest
for $6,000. (a) What was the total amount of Mr. Gibson’s interest before selling?
(b) What was the value of the partnership?

Module 3.5: Proration

(29) Peter paid $2,675 for auto insurance for one year. After 5 months he cancelled the
insurance and was given a pro-rated or partial refund based on the number of months
remaining on the policy less a service charge of $125. How much money did he get back?

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