Chapter6: Business Expenses
Section: Chapter Questions
Problem 89TPC
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Question
Transcribed Image Text:PROBLEM SOLVING
1) Mrs. Teresa bought P45.80 worth of groceries and P27.75 vegetables. How much change did she
receive from her 100 peso bill?
2) A fish vendor bought P653.85 worth of fish. The following day his order worth P562.15 arrived.
If she was able to sell them all for P1,625.05, how much did he gain?
3) A school canteen sold hot cakes at P0.55 each. How many were sold if the sale was P18.70?
4) Anne can type 55 words in 1 1/3 minutes. How long will it take her to type 100 words?
5) Suppose that P5,000,000 is allocated for sales department, marketing department and advertising
department in a ratio of 3:4:5 respectively. How much money will be allocated for each
department?
6) Noel's Auto Repair Shop paid P3,586.20 invoice dated November 12,2014 on December 10 of the
same year. If the invoice carried the discount of 23%, 10% with a term 8/10, 5/30 and n/60,
how much did the repair shop pay on the invoice?
7) Maricel Santos sells products from a direct selling company. She receives 10% commission for
her first P50,000 worth of sales, 15% of next P5,000 sales and 20% in excess of P55,000. During
the month of December, his sales amounted to P200,000. How much did he earn for the month
of December?
8) A machine costing P2,500 has an estimated useful life of 4 years with a scrap value of P500.
Compute its depreciation using
A. Straight-line Method
a. If the management will decide to sell the machine after 2 years, what is its book value?
b. After 3 years, what is the accumulated depreciation?
B. Sum of year's digit method
a. If the management will decide to sell the machine after 3 years, what is its book value?
b. After 2 years, what is the accumulated depreciation?
9) Crispin wants to buy a motorcycle. His mother will loan him some money at only 6% compounded
quarterly. If Crispin estimates that he will be able to repay a total of P3,600 in 2 years,
A. How much should he borrow from his mother today?
B. How much is the discount interest that his mother will gain out of the loan?
10) Compute the simple interest and final amount of each loan
Principal
Rate
Time
Final amount
Interest
?
A
P 400
7%
?
1 year
3 months
B
P 640
9%
?
?
C
P 985
10%
180 days (ordinary time period)
?
?
D
P 850
6%
60 days (exact time period)
?
?
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