Math Exercises

 Retailing Practice Test
 1. Phil's Bagel Shop has a stock turnover rate of 4.0 per day. If the shop is open from 6 AM to 6 PM daily, how often should Phil plan to bake fresh bagels?
 a. every 6 hours b. every 4 hours c. every 3 hours d. every 12 hours
 2. Jama has just become owner of a franchise fast-food restaurant. He pays an initial fee of \$150,000 plus \$8,000 per month for advertising and management support to the franchisor. How much will he pay in all to the franchisor during his first year in business?
 a. \$120,000 b. \$158,000 c. \$220,000 d. \$246,000
 3. A retail hardware store generates \$2.2 million in revenue in its first year. Cost of goods sold is \$0.88 million, operating expenses are \$0.74 million, and interest expense is \$0.01 million. What are expenses as a percentage of revenue?
 a. 22% b. 34% c. 25.9% d. 74.1%
 4. If the annual salary for a job is \$56,000 and 27% is taken out for taxes, a savings plan, and health insurance, what is the monthly take-home pay?
 a. \$3,437.08 b. \$4,708.33 c. \$3,766.67 d. \$4,124.50
 5. A warehouse club offers a 15% discount on purchases that total \$150 or more. If the Wagar family buys a stereo for \$109, clothes for \$42, and food for \$64, how much will they save?
 a. \$32.25 b. \$9.75 c. \$27.50 d. \$1.50
 6. A flower grower produces 500 dozen daffodil bulbs. If a wholesaler purchases 40% of the grower's production, how many bulbs remain for the grower to sell?
 a. 1200 b. 2400 c. 3600 d. 4800
 7. If you purchase a suit for \$435 plus 7.5% sales tax and a \$25 alteration fee, what is your total bill?
 a. \$460.00 b. \$467.50 c. \$492.63 d. \$543.75
 8. Sales of a large coffee merchandiser recently reached \$3.3 billion annually. If they have 6300 locations around the world, about how much revenue does each location generate in a year?
 a. \$50,000 b. \$500,000 c. \$5,000,000 d. \$50,000,000
 9. In a merchandising plan, sales for April are projected to be 10% greater than sales in April last year. If April sales were \$14,100 last year, what are sales projected to be this year?
 a. \$12,818 b. \$14,805 c. \$15,400 d. \$15,510
 10. Jane finds two stores where she can buy some linens for her bedroom. They cost \$119 at a discount store and \$129 at a specialty bed and bath store. How much will Jane pay if she chooses the less expensive store?
 a. \$116.10 b. \$119.00 c. \$126.10 d. \$129.00