Business Math
Summer Assignment for school year 2015-2016
The exercises in this assignment are examples of skills that should be mastered before beginning the
study of Business Math. This assignment is for optional skill development for no credit.
This assignment is for practice only. If you complete these exercises before August 28, 2015, you may
submit this assignment to be corrected to see what skills you have mastered.
1. Round 5.46 to the nearest tenth.
1
2. Round $.064 to the nearest cent.
2
3. Round $399.49 to the nearest dollar.
3
4. Multiply: 7801 ⃰ 1758
4
5. Divide: 11,032 ÷ 35
5
6. Write 15/21 in lowest terms.
6
7. Change 8⅞ to an improper fraction.
7
8. Change 40/26 to a mixed number.
8
9. Add:
3
/4 + 1/5 + 7/8
10. Add: 22/3 + 71/4 + 101/2
11. Subtract:
3
/8 – 7/24
12. Subtract: 833/4 – 212/5
3
13. Multiply:
/8
3
⃰ /5
9
10
11
12
13
14. Divide: 151/4 ÷ 51/8
14
15. Express .625 as a common fraction.
15
3
16. Express /5 as a decimal.
16
17. Subtract: 598.316 – 79.839
17
18. Multiply: 30.67
⃰ 5.39
18
19. Divide: 309.6 ÷ 1. 2
19
20. Express 7/8 as a percent.
20
21. Find 23% of $517.65 to the nearest cent.
21
22. Sara goes to a restaurant with her best friend Jeanne on her birthday, and brings two of their friends.
Sara pays the bill for everyone and gives a 20% tip because the service was excellent. The bill was
$73.12. How much is Sara paying for a tip, and how much is Sara paying for the total?
a) amount of the tip $
b) total amount to pay $
If Sara does not want to bother with change, and wants to round the amount to pay up to the next
dollar amount, then how much will she pay?
c) total amount to pay $
23. An employee who is paid monthly receives
paychecks each year.
24. An employee who is paid weekly receives
paychecks each year.
25. An employee who is paid semimonthly receives
paychecks each year.
26. An employee who is paid biweekly receives
paychecks each year.
Find the gross weekly earnings for the employee. Round the answer for gross earnings to the nearest
cent. Regular hours are up to 40 hours per week. Overtime hours are any hours worked over 40 hours in
a week. Overtime is paid at time-and-a-half.
Hours Worked
Regular
Gross
Employee
for the Week
Hourly Rate
Earnings
27. Davis, R.
45
$16.35
28. Whiting's Oak Furniture sells a dining room set for $1462.96 after deducting 26% from the original
price. Find the original price.
29. Find the percent of markup based on selling price if some home exercise equipment that cost $1584 is
sold for $1980.
30. Intelnet spent 5. 2% of its sales on advertising. If sales amounted to $864,250 what amount was
spent on advertising?
31. Stephen Wells earns $14.78 per hour and time and a half for all hours worked over 8 hours in a day.
Find his gross earnings for a week when he worked: Monday 8 hours, Tuesday 9 hours, Wednesday
8.5 hours, Thursday 8 hours, and Friday 8.75 hours. Round the answer for gross earnings to the
nearest cent.
$
32. Louis Stills is paid a salary of $540 a week and a 9% commission on all sales over $1000. Find his
gross earnings for a week that Louis had total sales of $2600.
$
33. Find the ending balance on the credit card account on April 25th, when the following transactions were
posted on the account from March 25th to April 25th.
Transactions for the month are:
March 25th – credit card balance of $409.23, March 28th – use your credit card to make your car payment
of $352.40, April 4th – buy shirts for $73.00, April 5th – return merchandise for $48.00, April 9th - get
gasoline for $52.00, April 24th - make a payment of $100.00, April 24th – interest of $29.25.
$
34. In the checkbook register on the next page, enter the following transactions. After each transaction,
enter the balance in the right column.
Sep. 12 – deposit from paycheck for $427.12
Sep. 13 – pay cell phone bill to Verizon for $80.14 using check #2014
Sep. 17 – pay for groceries at Price Chopper for $103.92 using check #2015
Sep. 22 – deposit of $30.00 from birthday present received
Sep. 25 – make car payment to Wells Fargo for $318.45 using check #2016
Sep. 30 – checking account interest for $1.24
CHECK
NUMBER
DATE
DESCRIPTION OF
TRANSACTION
PAYMENT, FEE OR
WITHDRAWAL
DEPOSIT OR
INTEREST
BALANCE
$ 438.55
35. Complete the check below for a payment that Joe C. Dollar made on February 8, 2014 to National Grid
to pay his electric bill of $285.31 for the month of January 2014. Be sure to complete all six entries.