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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