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Business Math Reviewer
Business Math Reviewer
Part 2: Identify the rate, base, and amount in each statement or question. Do not solve the exercise at
this point.
1. 23% of 400 is 92 Rate_______ Base__________ Percentage__________
2. 150 is 20% of 70 Rate_______ Base__________ Percentage__________
3. 200 is 40% of 500 Rate_______ Base__________ Percentage__________
4. 40% of 600 is 240 Rate_______ Base__________ Percentage__________
Part 3: Solve each problem. Round to the nearest tenth or tenth of a percent.
1. Jan has a 5% commission rate on all her sales. If she sells Php. 40,000 worth of merchandise in 1
month, what commission will she earn?
2. A computer software retailer used a markup rate of 40%. Find the selling price of a computer
game that cost the retailer $25.
3. A golf shop pays its wholesaler $40 for a certain club, and then sells it to a golfer for $75. What
is the markup rate?
4. An item is marked down 15%; the sale price is $127.46. What was the original price?
5. Cathy’s favorite pair of shoes are on sale for 30% off. The sale price is $62.30. What was the
original price?
6. Vandolph is engaged in in the business of buying and selling antiques. He bought an old jar from
Vigan for Php. 5,000 and sold the same for Php. 8,000. What was his rate of profit.