Q.1
A new bridge was put in to connect two cities. The cost of the bridge was $5,000,000. In order to pay off that amount a toll booth was placed on the bridge charging each car $1.60 to cross over. The two cities want to pay off the building cost in a year plus make a $250,000.00 profit by the end of the first year. How many cars will have to pass over the bridge in the first year to pay off the building costs and provide the cities with a $250,000.00 profit?
  • 2,831,205 cars
  • 3,281,250 cars
  • 2,381,520 cars
  • 3,128,250 cars
Q.2
The operating expenses for running the local gym was equal to 37% of each gym membership. Each gym membership was $590.00 per year. The gym needs to sell at least 700 yearly memberships to cover its yearly operating expenses. What is the gym’s yearly operating expenses?
  • $215,810.00
  • $215,180.00
  • $152,180.00
  • $152,810.00
Q.3
Jamie’s sub shop sold 310 sandwiches for $4.75 each. Its gross profit was $821. What was the unit cost of each sandwich?
  • $2.10
  • $3.20
  • $2.40
  • $3.05
Q.4
Rosie’s Flower Shop bought 20 bundles of a dozen roses each for $9.00 per bundle. The shop then re-bundled the roses into half dozen bundles and sold the half dozen bundles for $12.00 each. What was the initial unit cost (per rose) and what was the gross profit per unit (per rose) after the re-bundling?
  • $0.69 initial unit cost / $1.50 gross profit after re-bundling
  • $0.75 initial unit cost / $1.25 gross profit after re-bundling
  • $0.79 initial unit cost / $1.15 gross profit after re-bundling
  • $0.95 initial unit cost / $1.05 gross profit after re-bundling
Q.5
245 stools were purchased for a local dance hall outlet. Each stool’s unit cost was $13. 168 stools were then sold for $25.99 each. What is the total gross profit on the sold stools?
  • $2,182.32
  • $2,812.32
  • $2,281.32
  • $1,822.32
Q.6
John estimated that his overhead expenses would be equal to 28% of the sales cost for each product he sold. He sold 600 baseball cards for $9.25 each. They cost him $3.75 each. What is his net profit (or net loss)?
  • $1,446.00
  • $1,546.00
  • $1,646.00
  • $1,746.00
Q.7
The outdoor concert hall sold 31,471 tickets for $17.00 each. Its gross profit was $346,181. What was the unit cost of each ticket?
  • $10.50
  • $9.00
  • $6.00
  • $8.70
Q.8
15 pairs of ice skates were bought for $11.50 each. 7 pairs were sold for $21. What is the total gross profit on the sold ice skates?
  • $56.50
  • $62.50
  • $66.50
  • $68.50
Q.9
The Lady’s Club bought 200 cakes from the bakery for $3.50 per cake. They sold all 200 cakes for $8.75 each. What was the Lady’s Club gross profit on their sales?
  • $510.00
  • $1,050.00
  • $1,500.00
  • $1,005.00
Q.10
Leah opened up her own real estate agency. The agency’s commission for each sold property was 5%. In order to meet all of her overhead costs she calculated that for each house that sold at $150,000.00 it would take 23.2% of the commission the agency received to cover her expenses so long as she sold 6 houses each month. If Leah sold 6 houses in a month, what would be the agency’s net profit for that month?
  • $32,756.00
  • $37,500.00
  • $30,650.00
  • $34,560.00
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