Final Examination - BUSINESS MATHEMATICS

Mark rents a stall in the public market for ₱5,000.00 a month. He has a helper who helps in his business and he pays him salary of ₱8,000 a month. He orders fresh chicken from a supplier that cost him ₱140.00 per kilo. He sells the chicken to his customers at ₱160.00 per kilo. How many kilos of chicken does Mark need to sell to break-even?

• 200 kilos

• 450 kilos

• 650 kilos

• 800 kilos

Mark rents a stall in the public market for ₱5,000.00 a month. He has a helper who helps in his business and he pays him salary of ₱8,000 a month. He orders fresh chicken from a supplier that cost him ₱140.00 per kilo. He sells the chicken to his customers at ₱160.00 per kilo. How much profit will he earn if he sells 700 kilos of chicken?

• ₱1,000.00

• ₱2,000.00

• ₱3,000.00

• ₱4,000.00

What do you call a type of commission where the percentage changes based on how much someone sells?

• Straight commission

• Salary Plus Commission

• Commission rate

• Graduated Commission

When do we obtain the break-even point?

• When the fixed cost is equal to the total cost

• When the total cost is equal to the variable cost

• When the variable cost is equal to the fixed cost

• When the number of units of goods sold covers the all the costs

In computing for the interest, which among the following variables is NOT included?

• principal amount

• rate

• paid loan

• time

How many days are used when ordinary interest is applied?

• 360

• 362

• 364

• 365

Which is TRUE about graduated commission?

• A commission based on percentage only.

• A commission which varies according to how much sales is made.

• It is based on a flat arrangement or as a percentage of the revenue generated by a salesperson.

• It is a commission in which a salesperson gets his basic salary and a percentage of whatever sales he makes.

What type of cost includes the rental of space?

• fixed

• revenue

• total

• variable

What is the transaction involving a transfer of money to another party for safekeeping?

• loan

• deposit

• principal amount

• amortization

Which situation illustrates a salary plus commission?

• A person who receives only salary.

• A person who receives only commissions.

• A person who gets paid a salary and a % of sales.

• A person who paid percentage (%) changes based on how much he/she sells.