UOP QRB 501 Final Exam Guide NEW .pdf
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UOP QRB 501 Final Exam Guide NEW
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1. Jorge makes a simple discount note with a face
value of $6000.00, a term of 240 days, and a 10%
discount rate. Find the discount.
2. The following test scores were recorded for a
student: 79, 74, 72, 68, 74, 60, 70. Find the mean,
median, and mode.
mean: 72, median: 68, mode: 74
mean: 72, median: 71, mode: 79
mean: 71, median: 68, mode: 79
mean: 71, median: 72, mode: 74
3.Megan Hughes deposits $2300 in an account that
pays simple interest. When she withdraws her
money 8 months later, she receives $2484.00.
What rate of interest did the account pay? Round
to the nearest whole percent.
12% per year
11% per year
14% per year
13% per year
4. Christine is currently taking college astronomy.
The instructor often gives quizzes. On the past
seven quizzes, Christine got the following scores:
53, 12, 41, 29, 18, 42, 57. Find the standard
5 Find the net price of a bicycle that lists for $82.95
if a discount rate of 15% is offered. Round to the
6 When finding the amount of change in
percentage problems, the percent is always based
the final or ending amount in decrease problems
the original or beginning amount
the original or beginning amount for increase
the final or ending amount
7 An invoice received from Royal Exporters totaled
$638.20, was dated October 10, and offered terms
of 1/11 ROG. The shipment was received
November 27. If the invoice was paid on December
12, find the net amount due. Round to the nearest
8 Sales of frozen pizza for a club fund-raiser
increased from 500 one year to 610 the next year.
What was the percent of increase?
9 The circle graph above gives the inventory of the
women's department of a store. What is the total
10 Find the maturity value of a loan of $6787 after
4 months. The loan carries a simple interest rate of
14% per year.
11 The primary difference between an annuity due
and an ordinary annuity is:
I. when the money is paid into the annuity
II. the way the money is paid out of the annuity
III. with an annuity due, payment is made at the
beginning of the period
both I and III
12 An invoice for a laptop computer that cost
$625.68 is dated September 15, with sales terms of
3/10 EOM. If the bill is paid October 8, find the
cash discount and net amount paid. Round to the
Cash discount: $0; net amount: $625.68
Cash discount: $62.57; net amount: $563.11
Cash discount: $18.77; net amount: $ $606.91
Cash discount: $18.47; net amount: $614.68
13 Barbara knows that she will need to buy a new
car in 4 years. The car will cost $15,000 by then.
How much should she invest now at 6%,
compounded quarterly, so that she will have
enough to buy a new car?
14 The bar graph below shows the percent of
income spent on leisure activities in various
countries of the world. In which country is the
highest percent of income spent on leisure
activities? What percent is this?
15 Find the range for the scores: 13, 23, 60, 46, 53,
16 Solve the problem. Round to the nearest cent or
tenth of a percent. Cost = $48.19; selling price =
$58.79. Find the markup and the rate of markup
based on the selling price.
Markup = $10.60
Rate of markup based on selling price = 18.0%
Markup = $21.20
Rate of markup based on selling price = 51.8%
Markup = $21.20
Rate of markup based on selling price = 22.0%
Markup = $10.60
Rate of markup based on selling price = 82.0%
17 Solve the problem. Round amounts to the
nearest cent and percents to the nearest tenth of a
percent. Cost = $5.22; Selling price = $10.35. Find
18 Which month in 2010 had the lowest sales?