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Financial Algebra Unit 1 Review

Quiz by Nicki Ross

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19 questions
Show answers
  • Q1
    A budget for a school event allocates $500 for decorations, which is 25% of the total budget. What is the total budget for the event?
    $10000
    $250
    $2000
    $1000
    30s
  • Q2
    A store is having a sale where all items are 20% off. If an item is originally priced at $50, how much will it cost after the discount?
    $60
    $10
    $30
    $40
    30s
  • Q3
    A store is offering a 15% discount on all items. If an item is originally priced at $80, how much will it cost after the discount?
    $68
    $90
    $85
    $75
    30s
  • Q4
    A company's sales tax rate is 7%. If a customer purchases an item for $50, how much sales tax will they pay?
    $10
    $3.50
    $7
    $0.35
    30s
  • Q5
    A company has a profit margin of 20%. If the company's revenue is $500,000, what is its profit?
    $250,000
    $50,000
    $20,000
    $100,000
    30s
  • Q6
    A store is having a clearance sale where all items are marked down by 40%. If an item originally costs $80, how much will it cost after the markdown?
    $32
    $60
    $20
    $48
    30s
  • Q7
    A company gives a sales commission of 5% on each sale made. If a salesperson makes a sale worth $10,000, how much commission will they earn?
    $100
    $1000
    $500
    $50
    30s
  • Q8
    Which of the following is an example of a real-world financial problem that can be modeled using a linear function?
    Determining the value of a car as it depreciates over time
    Estimating the future value of a stock market investment
    Analyzing the impact of inflation on purchasing power
    Calculating compound interest on a savings account
    Calculating monthly health care premiums over a year.
    30s
  • Q9
    Which of the following equations represents a linear function?
    y = x^2 + 3
    y = 4/x
    y = sqrt(x) + 2
    y = 2x - 1
    30s
  • Q10
    A clothing store is having a sale with a discount of 20% off the original price of all items. If a shirt originally costs $25, what is the sale price of the shirt?
    $15
    $20
    $22
    $18
    30s
  • Q11
    A customer's phone plan charges a fixed monthly fee of $50 and an additional $0.10 per minute for talk time. Which of the following equations represents the total monthly cost, C, in dollars, for x minutes of talk time?
    C = 0.10x + 50
    C = 50 + 0.10x
    C = x/0.10 + 50
    C = 50x + 0.10
    C = 0.10 + 50x
    30s
  • Q12
    What is the formula for calculating compound interest?
    A = P(1 + r/n)^(nt)
    A = P * r * t
    A = P + (P * r * t)
    A = P * (1 + r)^t
    30s
  • Q13
    Which of the following equations represents a linear function?
    y = 3x^2 + 2
    y = 3x + 2
    y = 3/x + 2
    y = 2^x + 3
    30s
  • Q14
    Which of the following equations represents an exponential function?
    y = 2^x
    y = x^2 + 2
    y = 3x + 2
    y = 3/x + 2
    30s
  • Q15
    Which of the following is a benefit of saving money in a bank account?
    Not having access to your money.
    Paying fees for keeping your money in the bank.
    The possibility of losing your money.
    Earning interest on your savings.
    30s

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