FBLA Business Math Practice Questions with Explanations

154 questions · Business · by Study Foxy

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Questions

  1. Round 47,862 to the nearest thousand.

    • 48,000
    • 47,000
    • 47,900
    • 50,000

  2. Round $3.4567 to the nearest cent.

    • $3.46
    • $3.45
    • $3.50
    • $3.457

  3. What is 0.375 expressed as a fraction in lowest terms?

    • 3/8
    • 3/5
    • 37/100
    • 5/8

  4. What is 5/8 expressed as a decimal?

    • 0.625
    • 0.58
    • 0.875
    • 0.6

  5. What is 2 3/4 + 1 5/8?

    • 4 3/8
    • 3 8/12
    • 4 1/4
    • 3 7/8

  6. What is 3/4 x 2/3?

    • 1/2
    • 5/7
    • 6/7
    • 9/8

  7. What is 3/5 divided by 1/2?

    • 1 1/5
    • 3/10
    • 5/6
    • 2/3

  8. A worker uses 2 1/2 yards of fabric per jacket. How many yards are needed for 12 jackets?

    • 30 yards
    • 24 yards
    • 14 1/2 yards
    • 25 yards

  9. What is 12.5 x 0.04?

    • 0.5
    • 5
    • 0.05
    • 50

  10. What is 84.6 divided by 0.3?

    • 282
    • 28.2
    • 2,820
    • 25.38

  11. What is 4/5 of 365?

    • 292
    • 73
    • 300
    • 456

  12. Which fraction is largest?

    • 5/6
    • 3/4
    • 7/10
    • 2/3

  13. What is 7.25 - 3.875?

    • 3.375
    • 4.375
    • 3.625
    • 4.125

  14. What is 15% of $240?

    • $36
    • $24
    • $16
    • $360

  15. $18 is what percent of $72?

    • 25%
    • 18%
    • 40%
    • 4%

  16. $45 is 30% of what amount?

    • $150
    • $135
    • $13.50
    • $75

  17. Convert 0.065 to a percent.

    • 6.5%
    • 65%
    • 0.65%
    • 0.065%

  18. Convert 125% to a decimal.

    • 1.25
    • 12.5
    • 0.125
    • 125

  19. Sales rose from $40,000 to $46,000. What is the percent increase?

    • 15%
    • 6%
    • 13%
    • 46%

  20. A price dropped from $80 to $60. What is the percent decrease?

    • 25%
    • 20%
    • 33.3%
    • 75%

  21. A price drops from $60 back up to $80. What is the percent increase?

    • 33.3%
    • 25%
    • 20%
    • 133%

  22. A store's sales of $50,000 were 125% of last year's sales. Last year's sales were:

    • $40,000
    • $62,500
    • $37,500
    • $45,000

  23. A company has 80 employees, and 35% work remotely. How many work remotely?

    • 28
    • 35
    • 45
    • 52

  24. A company's expenses are $36,000, which is 45% of revenue. Revenue is:

    • $80,000
    • $16,200
    • $52,200
    • $65,000

  25. A town's population grew from 12,500 to 13,250. The percent increase is:

    • 6%
    • 7.5%
    • 5.7%
    • 0.6%

  26. An investment loses 20% one year and gains 20% the next. The overall change is:

    • A 4% loss
    • No change
    • A 4% gain
    • A 2% loss

  27. A $120 jacket is on sale for 25% off. What is the sale price?

    • $90
    • $95
    • $30
    • $100

  28. An item's list price is $500 with a trade discount of 20%. What is the net price?

    • $400
    • $480
    • $100
    • $420

  29. A chain discount of 20/10 on a $1,000 list price gives a net price of:

    • $720
    • $700
    • $800
    • $900

  30. The single discount equivalent to a 20/10 chain discount is:

    • 28%
    • 30%
    • 25%
    • 18%

  31. An invoice of $2,400 dated June 5 has terms 2/10, n/30 and is paid June 14. The amount paid is:

    • $2,352
    • $2,400
    • $2,160
    • $2,376

  32. An invoice of $2,400 dated June 5 has terms 2/10, n/30 and is paid June 20. The amount paid is:

    • $2,400
    • $2,352
    • $2,448
    • $2,160

  33. Under terms 2/10, n/30, the final due date for an invoice dated March 3 is:

    • April 2
    • March 13
    • March 30
    • April 3

  34. A store marks down a $75 item by $15. The markdown percent is:

    • 20%
    • 15%
    • 25%
    • 80%

  35. A $200 item is discounted 10%, and then the sale price is discounted another 10%. The final price is:

    • $162
    • $160
    • $180
    • $170

  36. A chain discount of 25/10/5 on a $2,000 list price gives a net price of:

    • $1,282.50
    • $1,200.00
    • $1,350.00
    • $1,425.00

  37. An invoice for $850 has terms 3/15, n/45. The cash discount if paid within 15 days is:

    • $25.50
    • $38.25
    • $8.50
    • $127.50

  38. A store marks an item down from $48 to $36. The markdown as a percent of the original price is:

    • 25%
    • 33.3%
    • 12%
    • 75%

  39. An item costs $40 and is marked up $16. The selling price is:

    • $56
    • $24
    • $64
    • $46

  40. An item costs $60 with a 40% markup based on cost. The selling price is:

    • $84
    • $100
    • $64
    • $24

  41. An item sells for $100 with a 40% markup based on selling price. The cost is:

    • $60
    • $71.43
    • $40
    • $140

  42. An item costs $30 and sells for $50. The markup percent based on cost is:

    • 66.7%
    • 40%
    • 20%
    • 60%

  43. An item costs $30 and sells for $50. The markup percent based on selling price is:

    • 40%
    • 66.7%
    • 20%
    • 60%

  44. A retailer wants a 50% markup on selling price for an item that costs $45. The selling price must be:

    • $90
    • $67.50
    • $95
    • $22.50

  45. A markup of 25% on cost is equivalent to what markup on selling price?

    • 20%
    • 25%
    • 33.3%
    • 15%

  46. A product's cost is $12 and the selling price is $20. The gross profit per unit is:

    • $8
    • $12
    • $32
    • $20

  47. A retailer pays $72 for a jacket and sells it for $108. The markup on cost is:

    • 50%
    • 33.3%
    • 36%
    • 150%

  48. A product costs $80 to make. The company wants a 35% markup on cost. The selling price is:

    • $108
    • $123.08
    • $115
    • $28

  49. Simple interest on $4,000 at 5% for 3 years is:

    • $600
    • $200
    • $6,000
    • $4,600

  50. Simple interest on $6,000 at 8% for 9 months is:

    • $360
    • $480
    • $720
    • $4,320

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