Math Exercises
Retailing
Practice Test
1.
There are about 78 million baby boomers (born 1946-1965) Which represents this number?
a.
78 X 10
6
b.
7.8 X 10
6
c.
0.78 X 10
7
d.
7.8 X 10
7
2.
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
3.
Oriesha's Toy Store has an open-to-buy figure of $86,000 for December. They have already received merchandise worth $64,000 and placed a $22,000 order which will be delivered next week. What was the value of planned purchases for December?
a.
$0
b.
$43,000
c.
$86,000
d.
$172,000
4.
Kwame owns a car repair business. What is the return on investment on a new set of tires costing $246 if expenses are $196?
a.
17%
b.
20%
c.
34%
d.
40%
5.
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%
6.
Giorgio's Italian Store has yearly stock turnover rate of about 6.0. This means that new stock needs to be ordered about how frequently?
a.
once a month
b.
twice a month
c.
every other month
d.
every six months
7.
Mac's Supply is taking inventory. They have 263 widgets and 170 wockets on hand. If widgets sell for $1.59 and wockets sell for $0.63, what is the total retail value of the inventory?
a.
$525.27
b.
$435.99
c.
$547.27
d.
$425.27
8.
Consumers in the United States use 5 billion coupons per year. Which represents this number?
a.
5 X 10
6
b.
5 X 10
7
c.
5 X 10
8
d.
5 X 10
9
9.
Kwame owns a car repair business. What is the return on investment on a brake job costing $90 if expenses include parts at $62 and labor at $25?
a.
7%
b.
9%
c.
11%
d.
14%
10.
What are interest expenses for 2 months on a $5000 loan borrowed at 1.5% interest per month?
a.
$30
b.
$75
c.
$150
d.
$300
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