# Fundamental Quantitative Concepts Exercises

## Instructions

Instructions |

1. You have ten problems – one on each tab of this Excel file. |

2. Please show your work in the cells. Use Excel formulas instead of writing the values/answers directly in the cell. |

The instructor will then know where you made a mistake and provide you valuable feedback and partial credit (if appropriate). |

3. The grey cells are data values which are given (known values). The yellow cells are unknowns and have to be determined. |

Total Points: 6 |

## Problem 1

A scale drawing of an office building is not labeled, but indicates 0.25 inch = 5 feet. | |

On the drawing, one wall measures 2 inches. How long is the actual wall? | |

Inches | Feet |

0.25 | 5 |

2 | |

Refer to the Solved Example 5 on Page 166 of your text. |

## Problem 2

Marcus James purchased 2,500 pounds of produce. Records indicate he purchased 800 pounds of potatoes, | |

150 pounds of broccoli, and 390 pounds of tomatoes. He also purchased apples. How many pounds of apples | |

did he purchase? | |

Total produce | pounds |

Potatoes | pounds |

Broccoli | pounds |

Tomatoes | pounds |

Apples | pounds |

Refer to the Solved Example 1 on Page 163 of your text. |

## Problem 3

The formula for the installment price of an item purchased with ﬁnancing is Installment price = Total of installment payments + Down payment. | |

The formula can be written in symbols as I = T + D. | |

Part a | Find the installment price I if T = $24,846.38 and D = $2,500. |

= | + |

Part b | Find the down payment for an installment loan if the installment price is $13,846.76 and the total of installment payments is $10,673.26. |

= | + |

Part c | Find the total installment payments if I = $6,508.72 and D = $2,250. |

= | + |

## Problem 4

Wallpaper costs $12.97 per roll and a kitchen requires 9 rolls. What is the cost of the wallpaper needed to paper the kitchen? | |

Cost | per roll |

Total rolls needed | |

Total cost to paper kitchen |

## Problem 5

Wilson’s Auto, Inc., has 37 employees and a weekly payroll of $10,878. If each employee |

makes the same amount, how much does each make? |

Total no. of employees |

Total weekly payroll |

Earnings per employee |

## Problem 6

Jacob Kennedy borrowed $30,000 to start up his consulting business. The loan had a simple interest | |

rate of 6.2% for 3 years. Use the formula I = PRT to ﬁnd the amount of interest he will pay on the loan. | |

I = interest; P = principal; R = rate (expressed as a decimal 0.062); T = time in years | |

Principal (P) | |

Interest (R) | |

Time (T) | years |

Simple Interest (I) |

## Problem 7

A car odometer increased from 37,580.3 to 42,719.6. What was the increase? |

New Value |

Original Value |

Amount of increase |

## Problem 8

A number decreased from 486 to 104. Find the amount of decrease. |

New Value |

Original Value |

Amount of change |

## Problem 9

A number increased from 224 to 336. Find the percent of increase. |

New Value |

Original Value |

Amount of increase |

Percentage increase |

Relative Change |

## Problem 10

A number decreased from 250 to 195. Find the rate of decrease. |

New Value |

Original Value |

Amount of change |

Percentage change |

Relative Change |

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