Test Bank For Business Mathematics in Canada 9Th Edition By Jerome

Chapter 03 - Ratios and Proportions Multiple Choice Questions 1. Express the ratio 0.25 : 1.40 : 8.50 in its lowest terms A. 1 : 5.6 : 34 B. 5 : 14 : 85 C. 5 : 28 : 170 D. 2 : 28 : 170 E. 2 : 14 : 85 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 2. In 1999, Acme Company's total overhead of $685,000 was allocated as follows: 18% to division A, 42% to division B, and the remainder to division C. What is the ratio of the overhead in division A to the overhead in division B to the overhead in division C, in lowest terms? A. 18 : 42 : 40 B. 9 : 21 : 20 C. 3 : 7 : 6 D. 10 : 23 : 22 E. 18 : 42 : 50 Difficulty: Medium Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-1 Chapter 03 Ratios and Proportions Chapter 03 - Ratios and Proportions 3. Solve the proportion: A. 15 B. 5 C. 10 D. 6 E. 12 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 4. Solve the proportion: A. 40 B. 44 C. 8 D. 6 E. 24 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 5. Solve the proportion: A. B. C. D. E. Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-2 Chapter 03 - Ratios and Proportions 6. Solve the proportion: A. B. C. D. E. Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 7. Nitin and Sam have invested in a partnership in the ratio of 3 : 5. If Sam adds another $10,000 to the business, how much should Nitin invest in order to maintain the same ratio? A. $10,000 B. $3,000 C. $5,000 D. $6,000 E. $12,000 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 8. Kuldip and Jane invested $35,000 and $55,000 respectively in a partnership. Kuldip added another $20,000 and Jane wants to add enough to maintain their investments in the original ratio. How much should Jane invest in order to maintain the same ratio? A. $12,727 B. $30,000 C. $35,000 D. $31,429 E. $25,000 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-3 Chapter 03 - Ratios and Proportions 3-4 Chapter 03 - Ratios and Proportions 9. A college allows parking permits for students in the ratio of 5.5 students to a parking permit. The college currently has 11,000 students. The student council did a survey and found that the ratio should be 4 : 1. The college has agreed to add the extra parking spaces. How many more spaces are required to meet the 4 : 1 ratio? A. 2750 B. 2200 C. 1250 D. 1150 E. 750 Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 10. A punch recipe calls for orange juice, ginger ale, and vodka to be mixed in the ratio of 4.5 : 2.5 : 1. How much orange juice and vodka should be mixed with a 2-litre bottle of ginger ale? A. 3.6 litres of orange juice and 0.8 litres of vodka B. 3.5 litres of orange juice and 0.75 litres of vodka C. 6 litres of orange juice and 1.25 litres of vodka D. 5 litres of orange juice and 1.1 litres of vodka E. 4.1 litres of orange juice and 0.9 litres of vodka Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-5 Chapter 03 - Ratios and Proportions 11. Mr. Malik is considering a larger house in the same area. Currently the taxes on his $250,000 home amount to $3000 per year. If he expects the taxes on other homes in the area to be in the same ratio as the assessed values, what tax amount will Mr. Malik pay on a house assessed at $300,000? A. $3200 B. $3600 C. $3500 D. $3000 E. $4000 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-6 Chapter 03 - Ratios and Proportions 12. Based on past experience, a production process requires 15 hours of direct labour and 2 assemblers for every $450 of raw materials. If the company has budgeted for $33,750 worth of raw materials, how many hours of direct labour and how many assemblers will the company require? A. 112.5 hours of direct labour and 15 assemblers B. 2250 hours of direct labour and 300 assemblers C. 1125 hours of direct labour and 150 assemblers D. 112.5 hours of direct labour and 150 assemblers E. 1125 hours of direct labour and 300 assemblers Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 13. A gym club membership costs $499 for two years. A member may cancel at any time and a refund less a $75 administration fee will be issued. The notice of cancellation must be received by the 15th of the month in order for the cancellation to be effective for the following month. Najib purchased a membership on March 1st last year, and decided to cancel it on June 10th of this year. How much of a refund will Najib receive? A. $166.33 B. $332.67 C. $257.55 D. $91.33 E. $112.13 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-7 Chapter 03 - Ratios and Proportions 14. Aaron, Luc, and Isaac invested in a business in the ratio of 3.5 : 5 : 7.5. The factory that they leased requires renovations of $125,000. If the partners want to maintain their investments in the business in the same ratio, how much should each partner pay for the renovations? A. Aaron: $58,593.75 Luc: $27,343.75 Isaac: $39,062.50 B. Aaron: $35,000 Luc: $50,000 Isaac: $75,000 C. Aaron: $20,000 Luc: $40,000 Isaac: $60,000 D. Aaron: $27,343.75 Luc: $58,593.75 Isaac: $39,062.50 E. Aaron: $27,343.75 Luc: $39,062.50 Isaac: $58,593.75 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-8 Chapter 03 - Ratios and Proportions 15. Sam, Domenic, and Sal invested $100,000, $150,000, and $75,000, respectively, in a business. The profits from last year were $80,000. What will be the profit share of each partner? A. Sam: $24,615.38 Domenic: $36,923.08 Sal: $18,461.54 B. Sam: $25,000 Domenic: $35,000 Sal: $10,000 C. Sam: $20,000 Domenic: $35,000 Sal: $15,000 D. Sam: $24,615.38 Domenic: $18,461.54 Sal: $36,923.08 E. Sam: $36,923.08 Domenic: $18,461.54 Sal: $24,615.38 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 16. Sam, Domenic, and Sal invested $100,000, $125,000, and $150,000, respectively, in a business. In order to expand, a further investment was required. Sal invested $200,000. If the other partners agreed to provide capital in the same ratio as the initial investment, how much did Sam and Domenic invest? Round to the nearest dollar. A. Sam: $166,667 Domenic: $133,333 B. Sam: $133,333 Domenic: $166,667 C. Sam: $150,000 Domenic: $175,000 D. Sam: $175,000 Domenic: $150,000 E. Sam: $133,333 Domenic: $150,000 Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-9 Chapter 03 - Ratios and Proportions 3-10 Chapter 03 - Ratios and Proportions 17. Sam, Domenic, and Sal invested $200,000, $125,000, and $150,000, respectively, in a business. In order to expand, a further investment was required. Sal invested $200,000. If the other partners agreed to provide capital in the same ratio as the initial investment, how much did Sam and Domenic invest? Round to the nearest dollar. A. Sam: $166,667 Domenic: $266,667 B. Sam: $250,000 Domenic: $175,000 C. Sam: $266,667 Domenic: $166,667 D. Sam: $175,000 Domenic: $250,000 E. Sam: $266,667 Domenic: $250,000 Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 18. Susan, Lynda, and Monica opened a consignment dress shop. The partnership agreement states that the responsibilities for the provision of capital are in the ratio of 2.5 : 3.75 : 4.5. If the total investment in the business was $365,500, how much did each partner invest? A. Susan: $153,000 Lynda: $85,000 Monica: $127,500 B. Susan: $175,000 Lynda: $150,000 Monica: $40,500 C. Susan: $150,000 Lynda: $175,000 Monica: $40,500 D. Susan: $85,000 Lynda: $127,500 Monica: $153,000 E. Susan: $210,000 Lynda: $115,000 Monica: $35,500 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-11 Chapter 03 - Ratios and Proportions 3-12 Chapter 03 - Ratios and Proportions 19. Jane, Lynda, and Ginny run a consignment dress store. The partnership agreement states that the profits are distributed according to the hours each works in the store. For the month of July, profits are $8500. The hours worked by Jane, Lynda, and Ginny are 170, 190, and 200, respectively. How should the month's profits be allocated? A. Jane: $2000 Lynda: $3000 Ginny: $3000 B. Jane: $3000 Lynda: $3000 Ginny: $2000 C. Jane: $2883.93 Lynda: $2580.36 Ginny: $3035.71 D. Jane: $3035.71 Lynda: $2883.93 Ginny: $2580.36 E. Jane: $2580.36 Lynda: $2883.93 Ginny: $3035.71 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 20. The current exchange rates show that C$1.00 = US$0.9736. If you have $120 Canadian dollars, what is the equivalent amount in US dollars? A. US$116.83 B. US$123.25 C. US$109.40 D. US$92.15 E. US$120 Difficulty: Easy Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 3-13 Chapter 03 - Ratios and Proportions 21. The current exchange rates show that C$1.00 = €0.7441. If you have $200 Canadian dollars, what is the equivalent amount in euros? A. €268.78 B. €148.82 C. €136.50 D. €200 E. €150.70 Difficulty: Easy Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 22. The current exchange rates show that C$1.00 = US$0.9736. If you have $500 Canadian dollars to exchange and the currency exchange store charges 2% on all transactions, how many US dollars will you be able to buy? A. US$513.56 B. US$486.80 C. US$477.06 D. US$503.29 E. US$496.54 Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 23. The current exchange rates show that C$1.00 = €0.7441. If you have $1000 Canadian dollars to exchange and the currency exchange charges 4% on all transactions, how many euros will you be able to buy? A. €744.10 B. €773.86 C. €1343.91 D. €714.34 E. €1290.15 Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 3-14 Chapter 03 - Ratios and Proportions 24. The current exchange rates show that US$1.00 = C$1.0271. If you have $375 US dollars, what is the equivalent amount in Canadian dollars? A. C$365.18 B. C$407.60 C. C$375 D. C$315.76 E. C$385.16 Difficulty: Easy Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 25. The current exchange rates show that US$1.00 = €0.7643. If you have $600 US dollars, what is the equivalent amount in euros? A. €458.58 B. €785.03 C. €746.83 D. €750 E. €600 Difficulty: Easy Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 26. The current exchange rates show that US$1.00 = €0.7643. If you have $450 US dollars to exchange and the currency exchange charges 2.5% on all transactions, how many euros will you be able to buy? A. €343.94 B. €335.34 C. €602.55 D. €587.49 E. €450 Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 3-15 Chapter 03 - Ratios and Proportions 27. The current exchange rates show that C$1.00 = £0.6350. If you have C$250, what is the equivalent amount in British pounds? A. £393.08 B. £105 C. £158.75 D. £430.97 E. £250 Difficulty: Easy Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 28. A hamburger in Canada costs C$7.00, and the same hamburger costs €5.50 in France. What percentage more is the cost of a hamburger in € in France? Use the French price as the base in the comparison. (C$1.00 = €0.7441) A. 21.43% B. 4.74% C. 6.64% D. 5.30% E. 27.0% Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 29. A litre of gas costs €1.42 in France. What would be the equivalent cost in Canada? Use C$1.00 = €0.7441 as the exchange rate. A. C$1.06 B. C$1.56 C. C$0.85 D. C$1.7441 E. C$1.91 Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 3-16 Chapter 03 - Ratios and Proportions 30. How much will it cost in C$ to buy €2000 in traveller's cheques if the exchange rate is C$1.00 = €0.7441, and the financial institution charges a fee of 0.5%? A. C$2701.25 B. C$2687.81 C. C$2822.20 D. C$1488.20 E. C$11,495.64 Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 31. You can buy euros at a currency exchange store or at the airport. If you want to buy €250, would it be better to pay a 1% transaction fee or a flat service charge of $10.00? Use C$1.00 = €0.7441 as the exchange rate. A. 1% transaction fee more expensive by C$6.64 B. 1% transaction fee less expensive by C$6.64 C. flat service charge less expensive by C$6.64 D. flat service charge more expensive by C$6.64 E. no difference in fee Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 32. A bag of popcorn costs C$1.99 in Canada, and the same bag of popcorn costs US$1.99 in Morgan Hill, California, USA. What percentage more is the cost of the bag of popcorn in the US than in Canada? Use the Canadian price as the base in comparison. (US$1.00 = C$1.0271). A. 2.47% B. 2.54% C. 2.51% D. 2.58% E. 0% Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 3-17 Chapter 03 - Ratios and Proportions 3-18 Chapter 03 - Ratios and Proportions 33. If the C$ strengthens by 1% relative to the US$ (US$1.00 = C$1.0271), what will be the new value for the US$ per C$1.00? A. US$0.9640 per C$1.00 B. US$0.91223 per C$1.00 C. US$1.01688 per C$1.00 D. US$0.9834 per C$1.00 E. US$1.0373 per C$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 34. If the C$ strengthens by 2% relative to the US$ (US$1.00 = C$1.0271), what will be the new value for the US$ per C$1.00? A. US$1.0066 per C$1.00 B. US$0.9545 per C$1.00 C. US$0.9113 per C$1.00 D. US$0.93992 per C$1.00 E. US$0.9931 per C$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 35. If the C$ weakens by 1.5% relative to the US$ (US$1.00 = C$1.0271), what will be the new value for the US$ per C$1.00? A. US$0.9590 per C$1.00 B. US$0.9884 per C$1.00 C. US$1.0425 per C$1.00 D. US$0.98531 per C$1.00 E. US$1.0921 per C$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 3-19 Chapter 03 - Ratios and Proportions 36. If the C$ weakens by 2.5% relative to the US$ (US$1.00 = C$1.0271), what will be the new value for the US$ per C$1.00? A. US$1.0528 per C$1.00 B. US$0.9493 per C$1.00 C. US$1.0327 per C$1.00 D. US$0.9898 per C$1.00 E. US$0.9651 per C$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 37. If the C$ weakens by 1% relative to the euro (C$1.00 = €0.7441), what will be the new values for € per C$1.00 and C$ per €1.00? A. €0.7515 per C$1.00 and C1.3574 per €1.00 B. €0.8185 per C$1.00 and C1.2674 per €1.00 C. €0.7367 per C$1.00 and C1.3574 per €1.00 D. €0.7067 per C$1.00 and C1.2674 per €1.00 E. €0.67645 per C$1.00 and C1.7367 per €1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 38. If the C$ weakens by 2.5% relative to the euro (C$1.00 = €0.7441), what will be the new value for the euro per C$1.00? A. €0.7590 per C$1.00 B. €0.7727 per C$1.00 C. €0.7292 per C$1.00 D. €0.7255 per C$1.00 E. €0.7686 per C$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 3-20 Chapter 03 - Ratios and Proportions 39. If the C$ strengthens by 4% relative to the euro (C$1.00 = €0.7441), what will be the new value for the euro per C$1.00? A. €0.71434 per C$1.00 B. €0.7664 per C$1.00 C. €0.7554 per C$1.00 D. €0.7751 per C$1.00 E. €0.7739 per C$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 40. If the C$ strengthens by 3% relative to the euro (C$1.00 = €0.7441), what will be the new value for the euro per C$1.00? A. €0.7664 per C$1.00 B. €0.7218 per C$1.00 C. €0.7729 per C$1.00 D. €0.7671 per C$1.00 E. €0.7644 per C$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 41. If the US$ strengthens by 2% relative to the euro (US$1.00 = €0.7643), what will be the new value for the euro per US$1.00? A. €0.7795 per US$1.00 B. €0.7796 per US$1.00 C. €0.7319 per US$1.00 D. €0.7121 per US$1.00 E. €0.7262 per US$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 3-21 Chapter 03 - Ratios and Proportions 42. If the US$ weakens by 5% relative to the euro (US$1.00 = €0.7643), what will be the new value for the euro per US$1.00? A. €0.72790 per US$1.00 B. €0.7670 per US$1.00 C. €0.7261 per US$1.00 D. €0.7611 per US$1.00 E. €0.8685 per US$1.00 Difficulty: Medium Learning Objective: 03-05 Relate currency exchange rate movement to currency appreciation or depreciation. Topic: 03-10 Application: Appreciation and Depreciation of Currencies 43. The basket of goods and services included in the Consumer Price Index cost $35,750 in the base year. If the same basket cost $43,000 six years later, what was the CPI on that date? A. 83.1 B. 116.7 C. 72.5 D. 120.3 E. 118.4 Difficulty: Medium Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 44. The basket of goods and services included in the Consumer Price Index cost $425 in the base year. If the same basket cost $575 ten years later, what was the CPI on that date? A. 73.9 B. 126.1 C. 115.0 D. 130.4 E. 135.3 Difficulty: Easy Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 3-22 Chapter 03 - Ratios and Proportions 45. The CPI increased from 130.0 to 135.0 over a two-year period. If a person earned $35,000 at the beginning of the two-year period, how much would he have to earn at the end of the two-year period to maintain the same purchasing power? Round to the nearest dollar. A. $36,346 B. $36,750 C. $36,296 D. $36,500 E. $40,125 Difficulty: Easy Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 46. The CPI increased from 125.0 to 132.0 over a three-year period. If a person earned $40,000 at the beginning of the three-year period, how much would they have to earn at the end of the three-year period to maintain the same purchasing power? A. $42,800 B. $42,240 C. $40,933 D. $42,121 E. $40,250 Difficulty: Easy Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 47. Nitin earns $15 per hour today. Five years ago he earned $11.75 per hour. During the five- year period the CPI rose from 136.5 to 147.6. Has Nitin's buying power increased or decreased and by how much in current year's dollars? A. increased by $2.37 B. decreased by $2.37 C. increased by $2.29 D. decreased by $2.29 E. increased by $1.95 Difficulty: Easy Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 3-23 Chapter 03 - Ratios and Proportions 3-24 Chapter 03 - Ratios and Proportions 48. Sally earns $25 per hour today. Seven years ago she earned $20.75 per hour. During the seven-year period the CPI rose from 136.5 to 158.2. Has Sally's buying power increased or decreased and by how much in current year's dollars? A. increased by $3.61 B. decreased by $3.61 C. decreased by $0.95 D. increased by $0.95 E. increased by $1.40 Difficulty: Easy Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 49. Mandeep is going to ask for a raise. Over the past year, the CPI has gone from 129.9 to 131.9. Mandeep currently earns $42,500. What is the minimum raise that Mandeep should ask for in order to maintain the same buying power? Round to the nearest dollar. A. $43,350 B. $43,144 C. $44,000 D. $43,500 E. $43,154 Difficulty: Easy Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 50. Fatima is going to ask for a raise. Over the past year, the CPI has gone from 119.6 to 122.6. Fatima currently earns $45,000. What is the minimum raise that Fatima should ask for in order to maintain the same buying power? Round to the nearest dollar. A. $46,129 B. $46,350 C. $46,101 D. $46,500 E. $46,100 Difficulty: Easy Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 3-25 Chapter 03 - Ratios and Proportions 3-26 Chapter 03 - Ratios and Proportions 51. The price of a box of chalk has increased from $0.89 to $1.39 over a ten-year period. What index number would represent the change in price over the ten-year period? A. 150.0 B. 156.2 C. 136.0 D. 142.0 E. 148.2 Difficulty: Medium Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 52. The price of a laser printer dropped from $299.99 to $175. What index number would represent the change in price? A. 125.0 B. 75.0 C. 58.3 D. 71.4 E. 41.7 Difficulty: Medium Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 53. A car requires 8 litres of gasoline to go 88 km. How many litres of gasoline will be required to go 16 km at the same rate of consumption? A. 1.6 B. 0.5 C. D. 176 E. 5.5 Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-27 Chapter 03 - Ratios and Proportions 54. Solve the proportion: A. B. 0.44 C. 1.2375 D. 0.2475 E. Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 55. Karina bought 25.5 hectares of land for $63,000. If she buys another 80 hectares of land at the same price per hectare as her first purchase, how much must she pay for her second purchase? A. $247,058.82 B. $197,647.06 C. $200,812.50 D. $260,647.06 E. $308,823.53 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 56. Three partners share the partnership's profit according to the proportion of the business each owns. Ms. A owns 30%, Mr. B owns 25% and Ms. C owns the remainder. What profit would Mr. B receive if Ms. A receives $32,500? A. $108,333.33 B. $8,125.00 C. $24,375.00 D. $27,083.33 E. $30,875.00 Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-28 Chapter 03 - Ratios and Proportions 57. Total overhead of $235,000 is allocated according to the proportion of labour hours. Department A used 1830 hours, department B used 1635 hours, and department C used 1760 hours. What amount of overhead should be allocated to department C? A. $119,365.08 B. $155,842.11 C. $115,634.92 D. $82,306.22 E. $79,157.89 Difficulty: Medium Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 58. Suppose that C$1.00 is equivalent to US$0.92149. How much will it cost in C$ to purchase US$1565? (Ignore any commission.) A. C$1597.69 B. C$1732.31 C. C$1442.13 D. C$1698.34 E. C$2762.95 Difficulty: Medium Learning Objective: 03-04 Use quoted exchange rates to convert between currencies. Topic: 03-07 Application: Exchange Rates and Currency Conversion 59. If the basket of goods and services included in the consumer price index (CPI) cost $21,350 in the base year (when CPI = 100) and currently costs $28,550, what is the current CPI? A. 133.72 B. 128.63 C. 74.78 D. 125.08 E. 139.77 Difficulty: Medium Learning Objective: 03-06 Interpret and use index numbers. Topic: 03-11 Application: Index Numbers 3-29 Chapter 03 - Ratios and Proportions 60. Express the ratio 76 : 44 : 8 in its lowest terms. A. 38 : 22 : 1 B. 38 : 11 : 2 C. 9 : 5 : 1 D. 19 : 11 : 2 E. 6 : 3 : 1 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 61. Express the ratio 130 : 290 : 60 in its lowest terms. A. 2 : 4 : 1 B. 26 : 58 : 12 C. 65 : 145 : 30 D. 58 : 26 : 12 E. 13 : 29 : 6 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 62. Express the ratio 3 : 21 : 0.75 as an equivalent ratio whose smallest term is 1. A. 1 : 7 : 0.25 B. 3 : 21 : 1 C. 11 : 13 : 1 D. 1 : 7 : 25 E. 4 : 28 : 1 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 3-30 Chapter 03 - Ratios and Proportions 63. On a typical day, Generous Motors sells 3,600 vans, 1,500 pickup trucks, and 7,800 passenger cars. In lowest terms, what is the sales ratio of cars to vans to pickups? A. 36 : 15 : 78 B. 1560 : 720 : 300 C. 26 : 12 : 5 D. 78 : 15 : 36 E. 12 : 5 : 26 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 64. To raise money for her hockey team, Juliana collected a total of $264. Her uncle Vic donated $96, her uncle Dave donated $48 and her aunt Karen donated the rest. In lowest terms, express the ratio of the donations of Vic, Dave and Karen. A. 4 : 2 : 5 B. 5 : 12 : 26 C. 2 : 5 : 4 D. 4 : 2 : 11 E. 5 : 2 : 4 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 65. Last year, a company's salespersons, A, B, and C recorded sales as follows: "A" recorded three sevenths (3/7) of the total, "B" recorded one quarter (1/4) of the total and "C" recorded the rest of the sales. Express, in lowest terms, the sales ratio of A : B : C. A. 3 : 7 : 4 B. 7 : 4 : 1 C. 3 : 1 : 6 D. 21 : 7 : 28 E. 12 : 7 : 9 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-31 Chapter 03 - Ratios and Proportions 66. Express the ratio 0.75 : 3 as an equivalent ratio whose smallest term is 1. A. 0.25 : 1 B. 4 : 1 C. 3 : 12 D. 2.25 : 1 E. 1 : 4 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 67. Solve the proportion: A. 15 B. 12 C. 3 D. 0.75 E. 26.666 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 68. Solve the proportion: A. 24 B. 1504 C. 2400 D. 76 E. 1800 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-32 Chapter 03 - Ratios and Proportions 69. Betty and Lois have already invested $12,450 and $16,600 respectively. If Betty invests another $6,000 what amount should Lois contribute to maintain their investments in the same ratio? A. $6,000 B. $7,000 C. $8,000 D. $9,000 E. $4,000 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 70. Last year the team won 34 games and lost 17. This year they will play a total of 15 more games than they played last year. How many games will they have to win this year to maintain the ratio of wins to losses from last year? (There are no tie games.) A. 51 B. 24 C. 10 D. 44 E. 48 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 71. Hockey goals and assists each count as one point. Anthony's ratio of goals to assists is 2:5. Last season he collected a total of 91 points. How many goals did Anthony score? A. 65 B. 35 C. 26 D. 78 E. 13 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-33 Chapter 03 - Ratios and Proportions 72. Mary paid $1,500 for car insurance at the beginning of the year. After 5 months she cancelled the insurance and was given a pro-rated refund based on the number of months remaining on the policy less a service charge of $100. How much money did she get back? A. $500 B. $600 C. $625 D. $775 E. $875 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 73. A lottery prize was shared by Andy, Betty, and Chris by the ratio of 15 : 12 : 27. If Andy received $4,500, how much did Chris get? A. $11,700 B. $8,100 C. $3,600 D. $16,200 E. $9,900 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 74. Axel, Bonita, and Chip are partners in business. The ratio of ownership of the partnership between Axel, Bonita, and Chip respectively is 5 : 4 : 10. If Bonita's share is worth $28,000 what is the value of the whole business? A. $56,000 B. $35,000 C. $112,000 D. $133,000 E. $70,000 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-34 Chapter 03 - Ratios and Proportions 75. Bonus money totalling $920,000 is to be shared by Dave, Claude, Marcel, and Larry by the ratio 15 : 11 : 8 : 6. How much will Dave receive? A. $253,000 B. $460,000 C. $345,000 D. $368,000 E. $312,000 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 76. Rodger, Dodger, and Codger own a business in the ratio of 12 : 7 : 9. The value of the business is $560,000. If Codger sells his share to Dodger, what will be the new ownership ratio in the form Rodger : Dodger? A. 4 : 3 B. 21 : 7 C. 3 : 1 D. 4 : 5 E. 3 : 4 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration Short Answer Questions 3-35 Chapter 03 - Ratios and Proportions 77. A bartenders' handbook recommends that one bottle of spirits be provided per 10 guests at a New Year's Eve party. Furthermore, the relative consumption of scotch, rye, and rum is in the ratio of 3 : 5 : 4. How many bottles of each liquor should be stocked for a party expecting 480 guests? Scotch: 12 bottles Rye: 20 bottles Rum: 16 bottles Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-36 Chapter 03 - Ratios and Proportions 78. Express the following ratio in its lowest terms: 12 : 64 3 : 16 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 79. Express the following ratio in its lowest terms: 56 : 21 8: 3 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 80. Express the following ratio in its lowest terms: 45 : 15 : 30 3 : 1 :2 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 81. Express the following ratio in its lowest terms: 26 : 130 : 65 2 : 10 : 5 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-37 Chapter 03 - Ratios and Proportions 82. Express the following ratio in its lowest terms: 0.08 : 0.12 2: 3 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 83. Express the following ratio in its lowest terms: 2.5 : 3.5 : 3 5 : 7 :6 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 84. Express the following ratio in its lowest terms: 0.84 : 1.4 : 1.96 3 : 5 :7 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 85. Express the following ratio in its lowest terms: 11.7 : 7.8 : 3.9 3 : 2 :1 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-38 Chapter 03 - Ratios and Proportions 86. Express the following ratio in its lowest terms: 0.24 : 0.39 : 0.15 8 : 13 : 5 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 87. Express the following ratio in its lowest terms: 0.091 : 0.021 : 0.042 13 : 3 : 6 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 88. Express the following ratio in its lowest terms: 1: 6 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 89. Express the following ratio in its lowest terms: 8: 9 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-39 Chapter 03 - Ratios and Proportions 90. Express the following ratio in its lowest terms: 7 : 10 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 91. Express the following ratio in its lowest terms: 7: 3 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 92. Express the following ratio in its lowest terms: 3: 4 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-40 Chapter 03 - Ratios and Proportions 93. Express the following ratio in its lowest terms: 4: 1 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-41 Chapter 03 - Ratios and Proportions 94. Express the following ratio in its lowest terms: 15 : 8 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 95. Express the following ratio in its lowest terms: 8 : 9 : 10 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 96. Express the following ratio in its lowest terms: 2 : 6 :3 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-42 Chapter 03 - Ratios and Proportions 97. Express the following ratio in its lowest terms: 15 : 10 : 6 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-43 Chapter 03 - Ratios and Proportions 98. Express the following ratio as an equivalent ratio whose smallest term is 1: 7.6 : 3 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 99. Express the following ratio as an equivalent ratio whose smallest term is 1: 1.41 : 8.2203 1 : 5.83 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 100. Express the following ratio as an equivalent ratio whose smallest term is 1: 0.177 : 0.81066 1 : 4.58 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 101. Express the following ratio as an equivalent ratio whose smallest term is 1: 0.013072 : 0.0086 1.52 : 1 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 3-44 Chapter 03 - Ratios and Proportions 102. Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 1 : 2.61 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 103. Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 2.66 : 1 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 104. Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 77 : 23 : 41 3.35 : 1 : 1.78 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 3-45 Chapter 03 - Ratios and Proportions 105. Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 11 : 38 : 27 1 : 3.45 : 2.45 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 3-46 Chapter 03 - Ratios and Proportions 106. Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 3.5 : 5.4 : 8 1 : 1.54 : 2.29 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 107. Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 0.47 : 0.15 : 0.26 3.13 : 1 : 1.73 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 108. Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 1 : 2.47 : 1.37 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 3-47 Chapter 03 - Ratios and Proportions 109. Rounded to 2 decimal places, express the following ratio as an equivalent ratio whose smallest term is 1: 1.47 : 1 : 2.22 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 110. Shaheed has budgeted 12% of his monthly spending to cell phones and internet, 22% to food and 40% to rent and utilities. In lowest terms, what is the ratio of his spending for cell phones and internet to food to rent and utilities? 6 : 11 : 20 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 111. Don, Bob, and Ron Maloney's partnership interests in Maloney Bros. Contracting are in the ratio of their capital contributions of $78,000, $52,000, and $65,000, respectively. In lowest terms, what is the ratio of Bob's to Ron's to Don's partnership interest? 4 : 5 :6 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-48 Chapter 03 - Ratios and Proportions 112. Victoria Developments has obtained $3.6 million of total capital from three sources. Preferred shareholders contributed $550,000 (preferred equity), common shareholders contributed $1.2 million (common equity), and the remainder was borrowed (debt). What is the firm's ratio of debt to preferred equity to common equity? (Express as a ratio whose smallest term is 1 and round to 2 decimal places) 3.36 : 1 : 2.18 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 113. The cost to manufacture a fiberglass boat consists of $4480 for materials, $6330 for direct labour, and $2650 for overhead. Express the three cost components as a ratio whose smallest term is 1. (Round to 2 decimal places) 1.69 : 2.39 : 1 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-03 Converting a Ratio to an Equivalent Ratio Whose Smallest Term Is 1 114. A provincial government budget forecasts expenditures of $15.6 billion on education, $13.65 billion on health services, and $9.75 billion on social services. Express the three budget items as a ratio in lowest terms. 8 : 7 :5 Difficulty: Easy Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 3-49 Chapter 03 - Ratios and Proportions 115. The brine used in an industrial process is 12.5% salt by weight. In lowest terms, what is the ratio (by weights) of salt to water in the brine? 1: 7 Difficulty: Medium Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 116. The instructions for preparing the fuel mix for a two-cycle engine are to add 250 mL of oil to 5 L of gasoline. In lowest terms, what is the ratio (by volumes) of gasoline to oil in the fuel mix? 20 : 1 Difficulty: Medium Learning Objective: 03-01 Set up and manipulate ratios. Topic: 03-02 Reducing a Ratio to its Lowest Terms 117. Solve the following proportion for the unknown quantity (3-figure accuracy): 42.0 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 118. Solve the following proportion for the unknown quantity (3-figure accuracy): 13.0 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-50 Chapter 03 - Ratios and Proportions 3-51 Chapter 03 - Ratios and Proportions 119. Solve the following proportion for the unknown quantity (3-figure accuracy): 233 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 120. Solve the following proportion for the unknown quantity (3-figure accuracy): 6.81 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 121. Solve the following proportion for the unknown quantity (3-figure accuracy): 28.7 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 122. Solve the following proportion for the unknown quantity (3-figure accuracy): 0.880 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-52 Chapter 03 - Ratios and Proportions 3-53 Chapter 03 - Ratios and Proportions 123. Solve the following proportion for the unknown quantity (3-figure accuracy): 0.0155 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 124. Solve the following proportion for the unknown quantity (3-figure accuracy): 0.0191 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 125. Solve the following proportion for the unknown quantity (express as a fraction): Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-54 Chapter 03 - Ratios and Proportions 126. Solve the following proportion for the unknown quantity (express as a fraction): Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 127. Solve the following proportion for the unknown quantities (3-figure accuracy): Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 128. Solve the following proportion for the unknown quantities (3-figure accuracy): Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-55 Chapter 03 - Ratios and Proportions 129. Solve the following proportion for the unknown quantities (3-figure accuracy): Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 130. Solve the following proportion for the unknown quantities (3-figure accuracy): Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 131. Solve the following proportion for the unknown quantities (3-figure accuracy): Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-56 Chapter 03 - Ratios and Proportions 132. Solve the following proportion for the unknown quantities: Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 133. The Borellis wish to purchase a larger house to accommodate their growing family. The current year's property tax on their home amounts to $3545 based on its assessed value of $328,000. The assessed value of a property they are seriously considering is $437,000. What property tax can the Borellis expect to pay on this home if property taxes are in the same ratio as assessed values? $4723.06 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 134. The West Essex School Board employs 348 teachers for the 7412 students registered in the district's schools in the current year. The enrollment forecast for next year is 7780 students. Assuming the same student-teacher ratio for the next year, how many additional teaching positions must the board fill? (Round to the nearest whole number) 17 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-57 Chapter 03 - Ratios and Proportions 135. A high-definition movie lasting 1 hour and 45 minutes consumed 4.5 GB of memory on the hard drive of a personal video recorder (PVR). Rounded to the nearest minute, what is the maximum duration of high-definition recording that could be saved on the PVR's 80-GB hard drive? 31 hours and 7 minutes Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 136. Connie's neighbour sold 14.5 hectares of raw land for $128,000. If Connie were to sell her 23.25 hectare parcel at a proportionate price, what amount would she receive? (Round to the nearest dollar) $205,241 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 137. Based on past experience, a manufacturing process requires 2.3 hours of direct labour for each $174 worth of raw materials processed. If the company is planning to consume $78,300 worth of raw materials, what total amount should it budget for labour at $31.50 per hour? $32,602.50 Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-58 Chapter 03 - Ratios and Proportions 138. An international equity mutual fund includes American stocks, Japanese stocks, German stocks, and British stocks in the ratio 27 : 19 : 14 : 11, respectively. If its current holdings of German stocks are valued at $238 million, what are the values of its holdings in the securities of the other three countries? American stocks: $459 million Japanese stocks: $323 million British stocks: $187 million Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 139. The worldwide sales for Android, iPhone, and Blackberry in 2012, respectively, were in the ratio 68 : 17 : 5. If Android had sales of 104.8 million units for the second quarter of 2012, what would the second quarter sales for iPhone and Blackberry have been? (Round to the nearest 0.01 million units) iPhone: 26.20 million units Blackberry: 7.71 million units Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 140. A punch recipe calls for fruit juice, ginger ale, and vodka to be mixed in the ratio 6 : 2.5 : 1. How much fruit juice and vodka should be mixed with a 2 litre bottle of ginger ale? Fruit Juice: 4.8 litres Vodka: 0.8 litres Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-59 Chapter 03 - Ratios and Proportions 141. A business consultant is analyzing the cost structure of two firms in the grocery business. On sales of $3.66 million, Thrifty's had wholesale costs of $2.15 million and overhead expenses of $1.13 million. If Economart had the same proportionate costs on its sales of $5.03 million, what would its wholesale costs and overhead expenses have been? (Round to the nearest 0.01 million) Wholesale costs: $2.95 million Overhead expenses: $1.55 million Difficulty: Easy Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 142. A province's Ministry of Social Services has found that both the number of people receiving social assistance and the province's total expenditures on social assistance are proportional to the rate of unemployment. Last August when the provincial unemployment rate was 8.4%, the province provided benefits to 89,300 individuals at a cost of $107.4 million. The forecasted unemployment rate for next August is 7.9%. How many people can the province expect to need social assistance next August? What amount should the province budget for social assistance in August? (Round the number of claimants to the nearest whole number, and the total expenditure to the nearest million) Total expenditure: $101 million Number of claimants: 83,985 Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-60 Chapter 03 - Ratios and Proportions 143. Tom Nortons Donuts considers the Hamilton area to be its most mature, fully-exploited market. The 59 outlets in the metropolitan area serve a population of 675,000 and generate annual sales of $66.67 million. The management of Tom Nortons views its Calgary market as under-exploited. The 65 outlets generate annual sales of $63.05 million from a population of 1,075,000. If Tom Nortons had penetrated the Calgary market to the same degree and success as the Hamilton market, how many additional outlets would it have, and how much higher (rounded to the nearest $0.01 million) would its annual sales be? 29 additional outlets Annual sales would be $43.13 million higher Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 144. The Ministry of Education reported that the average school district in the province has 13,450 students in "K to 12" programs, an annual budget of $87.4 million, and 635 full-time- equivalent teachers. The Middleton School District (MSD), with an annual budget of $69.1 million and 498 teachers, serves 10,320 students. What adjustments would have to be made to MSD's budget and staffing to have them in the same proportion to enrollment as the provincial average? reduce budget by $2.04 million and reduce staff by 11 teachers Difficulty: Medium Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-61 Chapter 03 - Ratios and Proportions 145. Shirley had a three-sevenths interest in a partnership. She sold three-fifths of her interest for $27,000. a) What is the implied value of the entire partnership? b) What is the implied value of Shirley's remaining partnership interest? a) $105,000 b) $18,000 Difficulty: Hard Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-62 Chapter 03 - Ratios and Proportions 146. Regal Resources owns a 58% interest in a mineral claim. Yukon Explorations owns the remainder. If Regal sells one-fifth of its interest for $1.2 million, what is the implied value of Yukon's interest? (Round to the nearest dollar) $4,344,828 Difficulty: Hard Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 147. The statistics for a professional accounting program indicate that five-sevenths of those who enter the program complete Level 1. Two-ninths of the Level-1 completers do not finish Level 2. If 587 students completed Level 2 last year, how many (including this group of 587) began Level 1? (Round to the nearest whole number) 1057 Difficulty: Hard Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 148. Executive Fashions sold four-sevenths of its inventory at cost in a bankruptcy sale. The remainder was sold at 45% of cost to liquidators for $6700. a) What was the original cost of the inventory that was sold to the liquidators? b) What were the proceeds from the bankruptcy sale? a) $14,888.89 b) $19,851.85 Difficulty: Hard Learning Objective: 03-02 Set up and solve proportions. Topic: 03-04 Proportions 3-63 Chapter 03 - Ratios and Proportions 149. A three-year magazine subscription costing $136 may be cancelled at any time, and a prorated refund will be made for the remaining weekly issues. If Juanita cancels her subscription after receiving 17 issues in the second year, what refund should she get? Assume there are exactly 52 weeks in a year. $75.85 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 150. When real estate is sold, the year's property taxes are allocated to the vendor and the purchaser in proportion to the number of days that each party owns the property during the year. If the purchaser took possession of a property effective August 8 (of a 365-day year), how will the year's property taxes of $2849 be allocated to the vendor and purchaser? Vendor's share: $1709.40 Purchaser's share: $1139.60 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 151. On May 3, Mary Ann bought a 2-year membership in a fitness club for $1260, on a special promotion. Cancellation is allowed at any time. A prorated refund will be paid based upon the number of days remaining in the membership period. If she cancelled the membership on the following September 9, what refund should she receive? (Count both May 3 and September 9 as days used.) $1035.62 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-64 Chapter 03 - Ratios and Proportions 152. If you use your car for both business and pleasure, the Canada Revenue Agency will usually allow you to report a portion of the costs of operating the vehicle as a business expense. This portion is determined by the ratio of the distance travelled on business to the total distance travelled in the year. Last year, Harjap spent a total of $11,348 on gasoline, oil, repairs and maintenance, and insurance. His travel log shows that he drove 14,488 km on business and 8,329 km on personal use. What vehicle expense can Harjap report for the year? $7205.58 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 153. If you operate a home-based business, the Canada Revenue Agency (CRA) will usually allow you to report certain "office-in-home" expenses. The portion of heat, insurance, electricity, property taxes, and mortgage interest that you may report must be (in the language of the CRA) "reasonable under the circumstances." Rose uses 2 of the 11 rooms in her home 2 for her real estate appraisal business. The combined floor area of the 2 rooms is 36 m . The 2 remainder of the house has an area of 147 m . Rose's total expenses in the home-related categories were $17,512 for the year. What amount will qualify as "office-in-home" expenses if the proration is based on: a) The number of rooms used for the business? b) The floor area devoted to business use? a) $3184.00 b) $3444.98 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-65 Chapter 03 - Ratios and Proportions 154. The leases in multiple-unit commercial developments commonly permit the landlord to allocate to the tenants various common area and general costs such as property taxes, janitorial services, security services, and snow removal. These costs are usually prorated on the basis of the floor area leased to each tenant. Granny's Chicken, Toys 'n Novelties, and Pine Tree Pharmacy are the three tenants in Pine Tree Square. They lease 172 square metres, 136 square metres, and 420 square metres, respectively. How should common costs totalling $9872 for the past year be allocated? Granny's Chicken: $2332.40 Toys 'n Novelties: $1844.22 Pine Tree Pharmacy: $5695.38 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 155. Andy, Candy and Sandy agree to split the annual cost of $2739 for high speed internet for the apartment they share. If the three roommates agree to allocate the cost of the service and their usage of the monthly download allowance in the ratio 3 : 8 : 5, respectively: a) What is the cost per month for the service that each roommate is responsible for? b) How will the monthly usage allowance of 500 GB be distributed? a) Andy's cost: $42.80 per month Candy's cost: $114.13 per month Sandy's cost: $71.33 per month (+/- $0.01) b) Andy's allowance: 93.75 GB Candy's allowance: 250 GB Sandy's allowance: 156.25 GB Difficulty: Medium Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-66 Chapter 03 - Ratios and Proportions 156. Mr. Bartlett's will specified that, upon liquidation of any asset, the proceeds be divided among his wife, his son, and his sister in the ratio of 7 : 5 : 3. a) If the son received $9500 from the sale of securities, what amounts did Bartlett's wife and sister receive? b) What amount would the sister receive from the sale of the deceased's boat for $27,000? a) Wife: $13,300 Sister: $5700 b) $5400 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 157. Their partnership agreement requires Bella, Edward, and Jacob to provide capital "when and as required" by the partnership in the ratio 1 : 1.35 : 0.85, respectively. a) The total initial capital requirement was $256,000. How much did each partner contribute? b) One year later, Jacob's share of an additional injection of capital was $16,320. What was Edward's share? a) Bella: $80,000 Edward: $108,000 Jacob: $68,000 b) $25,920 Difficulty: Easy Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 3-67 Chapter 03 - Ratios and Proportions 158. Kevin, Lyle, and Marnie operate Food Country as a partnership. Their agreement provides that half the profit in each calendar quarter be distributed in proportion to each partner's investment in the partnership, and that the other half be distributed in proportion to the total number of hours that each partner works in the business. The following table presents each partner's investment in the second column, and the hours worked (during the most recent quarter) in the third column. Rounded to the nearest dollar, how should the quarter's profit of $112,460 be allocated? Kevin: $39,620 Lyle: $36,742 Marnie: $36,099 Difficulty: Medium Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration Partner Kevin Lyle Marnie Amount Invested ($) 130,000 86,000 29,000 Hours Worked 3-68 Chapter 03 - Ratios and Proportions 159. The following table shows National Paper Products' capital investment in each of its three divisions, and the most recent year's gross sales for each division. The operating costs of the head office for the year were $839,000. These costs are allocated to the divisions before each division's profit is determined. Rounded to the nearest dollar, how much should be allocated to each division if the costs are prorated on the basis of: a) The capital investment in each division? b) The sales of each division? a) IP: $389,838 FP: $265,799 CP: $183,363 b) IP: $480,724 FP: $189,342 CP: $168,934 Difficulty: Medium Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration Division Industrial products Fine paper Containers and packaging Investment $25,300,000 17,250,000 11,900,000 Gross Sales $21,200,000 8,350,000 7,450,000 3-69 Chapter 03 - Ratios and Proportions 160. Canada reported the following sales of alcoholic beverages in Ontario and Quebec for the year 2013. (All figures are in $ millions.) If Ontarians had allocated their total expenditures on alcoholic beverages in the same proportion as Quebecers, a) How much more would they have spent on wine? b) How would their expenditure on beer have differed? Round both answers to the nearest $0.1 million. a) $703.6 million more on wine b) $247.9 million more on beer Difficulty: Medium Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration 161. Last year, Reliable Securities established a sales achievement bonus fund of $10,000 to be distributed at the year's end among its four-person mutual fund sales force. The distribution is to be made in the same proportion as the amounts by which each person's sales exceed the basic quota of $500,000. How much will each salesperson receive from the fund if the sales figures for the year were $910,000 for Mr. A, $755,000 for Ms. B, $460,000 for Mr. C, and $615,000 for Ms. D? Mr. A: $5256.41 Ms. B: $3269.23 Mr. C: $0 Ms. D: $1474.36 Difficulty: Medium Learning Objective: 03-03 Use proportions to allocate or prorate an amount on a proportionate basis. Topic: 03-06 Application: Allocation and Proration Province Ontario Quebec Beer $3232 $2276 Spirits $1664 $466 Wine $1492 $1436