Math Exercises

 Retailing Practice Test
 1. A warehouse club has 150,000 square feet of space. About a third of the store is devoted to food retailing. How many square feet of space is devoted to products other than food?
 a. 30,000 b. 33,000 c. 50,000 d. 100,000
 2. Women purchase \$70 billion in apparel and accessories each year. Which represents this amount?
 a. 7 X 107 b. 7 X 108 c. 7 X 109 d. 78
 3. Mario is shopping for a new TV. The department store has the model he wants for \$239. A specialty electronics store has the same model for \$289, but they are having a 20%-off sale starting next week. How much will Mario pay if he chooses the less expensive TV?
 a. \$239 b. \$231.20 c. \$289 d. \$216.75
 4. A clothing store sells last year's merchandise at a discount of about half off the original retail price. If an item doesn't sell after being displayed for a week, they reduce the price about another 10%, and so on each week until the item sells. Which could be the price of an item that originally was priced at \$69.00, but sits on the shelf for 2 weeks?
 a. \$48.30 b. \$20.70 c. \$27.95 d. \$31.05
 5. Isabelle earns \$6400 per month. She takes home about 72% of her salary after taxes and savings are deducted by her employer. If her expenses for basic needs are \$4000 per month, what is her yearly discretionary income?
 a. \$608 b. \$6,080 c. \$6,400 d. \$7,296
 6. If a diamond mine produces 10 million carats in a year, how many pounds of diamonds has it produced? (1carat=0.007 ounces)
 a. 4,375 lbs b. 7,000 lbs c. 43,750 lbs d. 70,000 lbs
 7. Josepina is a buyer for an outdoor store. For June, she has planned purchases of \$43,000. She's already received a shipment of hiking gear costing \$14,500, and she's ordered water sports equipment costing \$16,800. What is her open-to-buy figure for June?
 a. \$43,000 b. \$31,300 c. \$26,200 d. \$10,700
 8. An egg farm produces 6,000 dozen eggs per week. 30% are sold at retail for an average of \$1.29 per dozen. How much revenue is produced at retail?
 a. \$2,322 b. \$3,233 c. \$4,518 d. \$5,418
 9. 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
 10. 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%