ABEKA BUSINESS MATHEMATICS TEST
8 QUESTIONS AND ANSWERS
find the simple interest if $1,000 is invested for 1 year at 6% - ANSWER-$60
find the simple interest if $10,000 is invested for 6 months at 9-1/2% - ANSWER-$475
divide 4.48 by 2.56 - ANSWER-1.75
add 15+27+32+6+29+31+6 - ANSWER-146
multiply -8 by -9 - ANSWER-72
find the simple interest for $5,000 invested for 6 months at 6-1/2% - ANSWER-$162.50
multiply 6-3/8 by 4/17 - ANSWER-1-1/2
divide 1/2 by 2 - ANSWER-1/4
Don Price bought a $70,000 house. He rents the house for $900 per month. He has
$700 in monthly expenses. (29) What is the amount of the annual rent? - ANSWER-
$10,800
What is the amount of the annual expenses? - ANSWER-$8,400
What is his rate of income to the nearest tenth of a percent? - ANSWER-3.4%
Lynda Davis bought a house for $90,000. Her expenses each month are $70 in
depreciation, $50 for property tax, $25 for insurance, $80 for repairs, and $200 for
interest. She rents the house for $1,200 per month. What are her total expenses for the
month? - ANSWER-$425
What are her expenses for the year? - ANSWER-$5,100
What is her rental income for the year? - ANSWER-$14,400
What is her rate of income to the nearest tenth of a percent? - ANSWER-10.3%
The Millers budgeted 12% of their $43,890 income this year for savings. If the Millers
stick to their budget, how much will they save this year? - ANSWER-$5,266.80
The Thompsons have an annual income of $50,000. They budget 9% for savings. They
invested 60% for their savings in a one-year CD. The CD earns 11-1/2% annual
interest. How much do the Thompsons save each year? - ANSWER-$4,500
8 QUESTIONS AND ANSWERS
find the simple interest if $1,000 is invested for 1 year at 6% - ANSWER-$60
find the simple interest if $10,000 is invested for 6 months at 9-1/2% - ANSWER-$475
divide 4.48 by 2.56 - ANSWER-1.75
add 15+27+32+6+29+31+6 - ANSWER-146
multiply -8 by -9 - ANSWER-72
find the simple interest for $5,000 invested for 6 months at 6-1/2% - ANSWER-$162.50
multiply 6-3/8 by 4/17 - ANSWER-1-1/2
divide 1/2 by 2 - ANSWER-1/4
Don Price bought a $70,000 house. He rents the house for $900 per month. He has
$700 in monthly expenses. (29) What is the amount of the annual rent? - ANSWER-
$10,800
What is the amount of the annual expenses? - ANSWER-$8,400
What is his rate of income to the nearest tenth of a percent? - ANSWER-3.4%
Lynda Davis bought a house for $90,000. Her expenses each month are $70 in
depreciation, $50 for property tax, $25 for insurance, $80 for repairs, and $200 for
interest. She rents the house for $1,200 per month. What are her total expenses for the
month? - ANSWER-$425
What are her expenses for the year? - ANSWER-$5,100
What is her rental income for the year? - ANSWER-$14,400
What is her rate of income to the nearest tenth of a percent? - ANSWER-10.3%
The Millers budgeted 12% of their $43,890 income this year for savings. If the Millers
stick to their budget, how much will they save this year? - ANSWER-$5,266.80
The Thompsons have an annual income of $50,000. They budget 9% for savings. They
invested 60% for their savings in a one-year CD. The CD earns 11-1/2% annual
interest. How much do the Thompsons save each year? - ANSWER-$4,500
