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CHAPTER 6 TEST - Personal Finance 12/2015 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ ____ ____ ____ ____ ____ ____ ____ ____ ____ 1. Nicole Nichols purchased a new carpet for $287 and a vacuum cleaner for $121. What is the sales tax if she lives in Iowa where the sales tax rate is 5 percent? a. $31.99 c. $20.40 b. $19.98 d. $24.48 2. Clarissa Gregory purchased a used car for $6,821 and four new tires for $110 each. What is the sales tax on her purchases if she lives in Connecticut where the sales tax rate is 6 percent? a. $325.98 c. $456.98 b. $435.66 d. $345.66 3. Cordell Johnson purchased a snow blower for $237.00 and two bags of rock salt for $3.15 each. What is the sales tax on his purchases if he lives in Maine where the sales tax rate is 5 percent? a. $12.17 c. $12.21 b. $12.01 d. $13.02 4. Linwood Marcus purchased a new couch for $878 and two end tables for $127 each. What is the sales tax on his purchase if he lives in Florida where the sales tax rate is 6 percent? a. $57.89 c. $60.30 b. $65.67 d. $67.92 5. Mary Steiner purchased school supplies at Office Emporium for $97.62. She then purchased a dictionary for $22.95 and a CD for $14.78 at Books Express. For all purchases she must pay the state sales tax of 6.5 percent and the county tax of 0.5 percent. What is the total tax on her purchases? a. $8.47 c. $7.49 b. $9.47 d. $9.89 6. Mike Meier purchased a lawnmower for $328.61, a lawn sprinkler for $13.27, and a hose reel for $27.96. He must pay the state tax of 5.5 percent, the county tax of 1.5 percent, and the city tax of 2 percent. What is the total purchase price? a. $33.29 c. $403.13 b. $369.84 d. $37.24 7. Carlotta Rodriguez purchased six bushes for $19.27 each, a porch swing for $88.22, and a gas grill for $321.77. She must pay the state tax of 4.5 percent, and the city tax of 2 percent. What is the total purchase price? a. $559.77 c. $43.61 b. $525.61 d. $34.16 8. Chin Quong purchased 11 binders for $1.37 each, a dozen pens for $0.87 each, and a box of copier paper for $27.19. He must pay state tax of 7.5 percent, the county tax of 0.5 percent, and city tax of 2 percent. How much will he pay in taxes for his purchases? a. $6.27 c. $5.23 b. $5.27 d. $6.23 9. Meyer Appliance store advertised a teapot for $23.95, a coffee maker for $33.95, and a deluxe microwave for $196.75. The state tax is 6.5 percent and the city tax is 1.5 percent. What is the total purchase price? a. $245.89 c. $254.65 b. $345.98 d. $275.02 10. Edward Taylor purchased two shirts for $17.95 and $27.50, a jacket for $94.20, and two ties for $12.30 each. The state tax is 5 percent, the county tax is 1.5 percent, and the city tax is 2 percent. What is the total amount of tax on his purchases? ____ 11. ____ 12. ____ 13. ____ 14. ____ 15. ____ 16. ____ 17. ____ 18. ____ 19. ____ 20. ____ 21. ____ 22. a. $11.23 c. $14.65 b. $13.96 d. $12.97 Rhonda Hartman purchased a camper for $4,927.00, a lantern for $32.87, and a propane grill for $86.50. The state tax is 4.5 percent, the county tax is 2.5 percent and the city tax is 0.5 percent. What is the total amount of tax on her purchases? a. $325.68 c. $321.99 b. $378.48 d. $353.25 Bill Atkins bought a new television set for $327.85. The sales tax rate is 5 percent. What is the total purchase price? a. $344.24 c. $356.77 b. $354.24 d. $234.88 Natalia Leon bought a new bicycle for $248. The sales tax rate is 6 percent. What is the total purchase price? a. $368.22 c. $262.88 b. $234.66 d. $12.40 Baker Bookstore advertised a deluxe dictionary for $38.75 and a full-color atlas for $41.10. The state sales tax is 6 percent, the city tax is 2.5 percent, and the county tax is 1 percent. What is the total purchase price? a. $89.98 c. $87.44 b. $85.66 d. $84.77 Roberto’s Salon advertised a shampoo for $4.25, a hair cut for $24.50, and a manicure for $27.25. The state tax is 5.5 percent, the county tax is 2.5 percent and the city tax is 1.5 percent. What is the total purchase price of the three services? a. $62.34 c. $87.00 b. $67.87 d. $61.32 An eight-ounce tube of toothpaste costs $1.69. What is the unit price per ounce to the nearest tenth of a cent? a. $0.221 per ounce c. $0.182 per ounce b. $0.091 per ounce d. $0.211 per ounce Manuel Cortez purchased a dozen donuts for $3.99. What is the unit price per donut to the nearest tenth of a cent? a. $0.433 per donut c. $0.333 per donut b. $0.232 per donut d. $0.332 per donut Dawn Dukes purchased six quarts of motor oil for $14.12. What is the unit price per quart rounded to the nearest cent? a. $2.98 per quart c. $2.39 per quart b. $2.54 per quart d. $2.35 per quart Zach Mazrahi can buy a dozen pencils for $1.89, 24 pencils for $3.60, or 36 pencils for $5.49. What is the best buy? a. 24 pencils for $3.60 c. A dozen pencils for $1.89 b. 36 pencils for $5.49 d. All are the same price. Sam Collins wants to buy the best deal in cereal he can find. He finds rice puffs for $2.49 for 24 ounces, $2.69 for 36 ounces, $2.29 for 12 ounces, and $4.00 for 48 ounces. What is the unit price of the best buy? a. 19.08¢ per ounce c. 10.38¢ per ounce b. 8.33¢ per ounce d. 7.47¢ per ounce Nathan Alexander wants to purchase ears of corn for a family reunion picnic. A farmers’ market near his home offers six ears of corn for $1.25, 12 ears of corn for $2.40, or 36 ears of corn for $7.20. Which is the best buy? a. 12 ears for $2.40 c. 36 ears for $7.20 b. 6 ears for $1.25 d. Both a and c Jennifer Edwards can subscribe to the Nashville Gazette for $99 for a year, $67 for eight months, $38 for four months, or $0.30 per day. Which is the better buy? ____ 23. ____ 24. ____ 25. ____ 26. ____ 27. ____ 28. ____ 29. ____ 30. ____ 31. ____ 32. ____ 33. ____ 34. a. $38 for four months c. $67 for eight months b. $99 for a year d. $0.30 per day Melanie Conrad needs four new tires for her car. She can buy one tire for $87, two tires for $174, three tires for $261, or four tires for $348. Which is the better buy? a. three for $270 c. one for $90 b. two for $180 d. All are the same price. Jeff Lytle can buy mulch for $2.39 a bag at the gas station. He can get six bags of the same mulch at the garden store for $15.00, or nine bags for $19.00. Which is the best buy? a. one bag for $2.39 c. nine bags for $19.00 b. six bags for $15.00 d. All are the same price. Megan Evans has a coupon that saves her $1 when she buys two jars of peanut butter. The peanut butter is $2.39 per jar. What is the final price? a. $3.21 c. $3.78 b. $3.98 d. $3.47 Martin Long purchased a roast beef sandwich for $2.55. He had a coupon for $0.50. What is the final price of the sandwich? a. $2.05 c. $1.95 b. $1.55 d. $2.35 Irma Hernandez purchased a new swimsuit for $47.50. She had a store coupon for $6.00. What is the final price of the swimsuit? a. $45.50 c. $42.50 b. $41.50 d. $39.50 Tien-Yu Moy had a coupon for $1.50 off a can of coffee that was valid if he also purchased coffee cream. The regular price of the can of coffee was $6.99 and the coffee cream was $2.15. What is the final price? a. $7.64 c. $7.98 b. $7.49 d. $7.89 Thomas Peters purchased a new SUV for $32,984. He received a $2,175 rebate from the car dealer and a $500 rebate from the manufacturer. What is the final price? a. $29,309 c. $30,309 b. $32,309 d. $31,309 Kesara Santiago purchased a riding mower for $2,746.00. She received a $49.95 rebate from the manufacturer and a $38.95 rebate from the store. What is the final price? a. $2,789.60 c. $2,345.89 b. $2,657.10 d. $2,567.10 Builder’s Warehouse has a clearance on overstocked merchandise. A picnic table that usually sells for $167 is on sale for $149. What is the markdown? a. $22 c. $31 b. $18 d. $15 Cate’s Bake Shop has a clearance on day-old baked goods. Loaves of bread that usually sell for $2.35 are on sale for $1.39. What is the markdown? a. $0.98 c. $0.88 b. $0.96 d. $0.89 Shashi Ram wants to buy software to help him with his income tax. The software regularly sells for $54.00. The sale price is $37.99. What is the markdown? a. $16.01 c. $15.99 b. $16.99 d. None of the above. Jerome Welage is ready to purchase a new lamp. It is regularly priced at $67.99. The sale price is $58.54. What is the markdown? a. $9.45 c. $9.00 ____ 35. ____ 36. ____ 37. ____ 38. ____ 39. ____ 40. ____ 41. ____ 42. ____ 43. ____ 44. ____ 45. b. $9.87 d. $9.65 Crystal Porter wants to purchase a new minivan. It regularly sells for $24,987. The manufacturer is offering a sale price of $18,994. What is the markdown? a. $4,998 c. $5,993 b. $5,665 d. $6,007 April Sanchez is ready to purchase a new suit. It regularly sells for $132.45. The suit is on sale for $89.95. What is the markdown? a. $43.50 c. $49.80 b. $42.50 d. $46.50 Connie Mason has a coupon for 25 percent off the purchase of a necklace that has a regular price of $100. What is the price after the coupon is used? a. $75.00 c. $90.50 b. $85.00 d. $95.50 Lee’s Leather Store marked down leather jackets 10 percent. What is the sale price of a leather jacket regularly priced at $130? a. $123 c. $113 b. $103 d. $117 Tracy’s Trends Store sells a line of dresses at a regular price of $40. The store marks down the dresses 25 percent. What is the sale price of one of these dresses? a. $32 c. $10 b. $42 d. $30 The regular selling price of a 22" color television is $389. The markdown rate is 33 percent. Use the percent paid to determine the sale price. a. $287.56 c. $260.63 b. $245.34 d. $267.89 The regular selling price of a mountain bike is $369.27. The markdown rate is 27 percent. Use the percent paid to determine the sale price. a. $269.57 c. $278.98 b. $260.98 d. $265.77 City Chicken Store’s regular selling price for a family pack of fried chicken is $14.67. The markdown rate on Wednesdays is 17 percent. What is the special Wednesday sale price? a. $13.87 c. $11.76 b. $12.18 d. $11.98 At Pablo’s Pizza the regular price for 2 large, one-topping pizzas is $12.98 each. Pablo’s offers a markdown rate of 32 percent on Tuesdays. What is the sale price for 2 large, one-topping pizzas? a. $17.45 c. $17.65 b. $18.99 d. $13.89 Express Books advertised a college dictionary for $27.65 and a dictionary software package for $29.80. The state tax is 5.5 percent and the city tax is 1.5 percent. What is the total purchase price? a. $55.67 c. $58.99 b. $61.47 d. $60.60 Weber Jewelry advertised a diamond necklace for $572.95 and a gold pendant for $113.76. The state tax is 6.5 percent and the city tax is 0.5 percent. What is the total purchase price? a. $786.23 c. $765.98 b. $789.00 d. $734.78 CHAPTER 6 TEST - Personal Finance Answer Section 12/2015 MULTIPLE CHOICE 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: ANS: C B A D B C A B D B B A C C D D C D A D D B D C C A B A C B B B A A C B A D D C A PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: PTS: 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: DIF: Basic Basic Basic Basic Average Average Average Average Average Average Average Basic Basic Average Average Basic Basic Average Basic Average Average Average Basic Average Basic Basic Basic Average Average Average Basic Basic Average Average Average Average Basic Basic Basic Average Average REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: REF: Section 6-1 Section 6-1 Section 6-1 Section 6-1 Section 6-1 Section 6-2 Section 6-2 Section 6-1 Section 6-2 Section 6-1 Section 6-1 Section 6-2 Section 6-2 Section 6-2 Section 6-2 Section 6-3 Section 6-3 Section 6-3 Section 6-4 Section 6-4 Section 6-4 Section 6-4 Section 6-4 Section 6-4 Section 6-5 Section 6-5 Section 6-5 Section 6-5 Section 6-5 Section 6-5 Section 6-6 Section 6-6 Section 6-6 Section 6-6 Section 6-6 Section 6-6 Section 6-5 Section 6-7 Section 6-7 Section 6-7 Section 6-7 42. 43. 44. 45. ANS: ANS: ANS: ANS: B C B D PTS: PTS: PTS: PTS: 1 1 1 1 DIF: DIF: DIF: DIF: Average Average Average Average REF: REF: REF: REF: Section 6-7 Section 6-7 Section 6-2 Section 6-2