Unlock hundreds more features
Save your Quiz to the Dashboard
View and Export Results
Use AI to Create Quizzes and Analyse Results

OR
Sign inSign in with Facebook
Sign inSign in with Google
Quizzes > High School Quizzes > Mathematics

FBLA Business Calculations Practice Quiz

Master Essential Business Math Skills Today

Difficulty: Moderate
Grade: Grade 11
Study OutcomesCheat Sheet
Colorful paper art promoting the FBLA Calculation Challenge, a high school business math quiz.

If a store sells a shirt for $40 and offers a 25% discount, what is the discounted price?
$30
$25
$35
$20
A 25% discount on $40 amounts to $10 off, so subtracting $10 from $40 results in a final price of $30. This basic percentage calculation confirms the correct answer.
A product is marked up by 50% on its cost of $20. What is its selling price?
$25
$30
$35
$20
A 50% markup on a $20 cost means an additional $10 is added, making the selling price $30. This reinforces the straightforward concept of percentage increases.
Calculate the simple interest earned on $1000 invested at an annual rate of 5% for 1 year.
$50
$60
$55
$45
Using the formula Interest = Principal à - Rate à - Time, the interest is $1000 à - 0.05 à - 1 = $50. This problem tests a basic understanding of simple interest calculation.
If a product's cost is $60 and it sells for $75, what is the profit percentage based on the cost?
15%
20%
30%
25%
The profit is $75 - $60 = $15. To find the profit percentage, divide the profit by the cost: $15/$60 = 0.25 or 25%.
If an item originally costs $80 and is reduced by 10%, what is the amount saved?
$8
$10
$12
$6
A 10% reduction on an $80 item is calculated as 10% of $80, which equals $8. This straightforward computation confirms the correct amount saved.
If a product is sold with a 40% profit margin on cost and the selling price is $70, what is the cost?
$60
$50
$40
$55
A 40% profit margin means the selling price is 1.4 times the cost. Solving 1.4 Ã - Cost = $70 yields a cost of $50. This problem requires setting up a simple equation.
A business invested $5000 at an annual simple interest rate of 6% for 3 years. How much interest is earned?
$800
$750
$1000
$900
The simple interest is calculated by multiplying the principal by the rate and time: $5000 Ã - 0.06 Ã - 3 = $900. This reinforces the application of the simple interest formula.
If a company marks up its product by 30% on the cost price and then offers a 10% discount on the marked price, what is the net markup percentage on the cost?
30%
17%
20%
27%
Starting with cost C, a 30% markup gives a price of 1.3C. A subsequent 10% discount reduces the price to 0.9 Ã - 1.3C = 1.17C, which is a 17% increase over the original cost. This multi-step calculation illustrates net effect.
A retailer buys goods at $150 each and sells them with a 25% markup. If a customer uses a 5% discount coupon on the selling price, what is the final price paid by the customer?
$182.50
$178.13
$175.00
$187.50
A 25% markup on $150 gives a marked price of $187.50. Applying a 5% discount reduces the price by $9.375, resulting in a final price of approximately $178.13. This problem tests sequential percentage operations.
A company has fixed costs of $2000 and variable costs of $10 per unit. If the selling price is $25 per unit, how many units must be sold to break even?
150 units
140 units
134 units
133 units
The break-even point is found by dividing the fixed costs by the contribution per unit (selling price minus variable cost). Here, 2000 ÷ (25 - 10) = 2000 ÷ 15, which is approximately 133.33, meaning 134 units must be sold when rounding up.
A car depreciates in value by 15% per year. If its initial price is $20,000, what is its approximate value after 2 years, applying depreciation consecutively?
$16,000
$13,500
$15,250
$14,450
After the first year, the value becomes $20,000 à - 0.85 = $17,000. After the second year, it becomes $17,000 à - 0.85 ≈ $14,450. This problem illustrates consecutive percentage decreases.
If a loan of $10,000 is taken at an annual simple interest rate of 8% for 5 years, what is the total amount payable at the end of the term?
$12,000
$14,000
$13,000
$15,000
The interest is calculated as $10,000 Ã - 0.08 Ã - 5 = $4,000, so the total amount payable is $10,000 + $4,000 = $14,000. This reinforces the simple interest concept.
A store's sale price of a product is $60 after applying a 20% discount on the marked price. What was the marked price before the discount?
$85
$75
$72
$80
Let the marked price be X. A 20% discount means the sale price is 0.8X. Setting 0.8X = $60 gives X = $75. This problem tests reverse percentage calculations.
A business offers an employee a starting salary of $40,000 with an annual increase of 3% compounded each year. What is the approximate salary after 2 years?
$42,436
$41,200
$43,000
$42,400
After one year, the salary becomes $40,000 à - 1.03 = $41,200. After the second year, it is $41,200 à - 1.03 ≈ $42,436. This problem applies compounded growth over multiple periods.
A manufacturer experiences a production increase of 12% in one month followed by a decrease of 8% the next month. What is the net percentage change in production over the two months?
Approximately +3%
0%
-3%
+4%
Assume an initial production of 100 units. After a 12% increase, production is 112 units. A subsequent 8% decrease yields 112 Ã - 0.92 = 103.04 units, an approximate net increase of 3%.
A product's selling price is determined by first marking it up by 35% over its cost and then applying a 15% discount on the marked price. If the final selling price is $115.50, what was the original cost?
$105.00
$110.00
$100.65
$95.00
Let the cost be C. The marked price becomes 1.35C, and after a 15% discount the price is 0.85 à - 1.35C = 1.1475C. Setting 1.1475C = $115.50 gives C ≈ $100.65. This sequential calculation tests multi-step percentage problems.
A business takes out a loan with compound interest of 6% annually. If the principal is $8,000 and the balance after 3 years is $9,577.29, which formula represents this situation?
8000 Ã - 1.06 Ã - 3
8000 + (8000 Ã - 1.06 Ã - 3)
8000 Ã - (1.06)^3
8000 Ã - (1.06 + 3)
Compound interest is calculated by raising (1 + rate) to the power of the number of periods. The correct formula is 8000 Ã - (1.06)^3. This problem assesses understanding of compound growth formulas.
A company's revenue is modeled by the equation R = 200x - 0.5x², where x represents the number of units produced in hundreds. At what value of x is the revenue maximized?
100
250
200
150
For a quadratic function in the form R = ax² + bx + c, the maximum occurs at x = -b/(2a). With a = -0.5 and b = 200, the vertex is at x = -200/(2 à - -0.5) = 200. This identifies the production level that maximizes revenue.
A business offers two pricing models. Model A charges a flat fee of $50 plus $0.25 per unit, while Model B has no flat fee but charges $0.40 per unit. For what number of units do both models cost the same?
400 units
Approximately 333 units
500 units
250 units
Setting Model A's cost, 50 + 0.25x, equal to Model B's cost, 0.40x, results in 50 = 0.15x, so x ≈ 333.33. Rounding appropriately gives approximately 333 units, making the costs equivalent.
A company's annual production cost is given by C(x) = 0.02x² - 0.8x + 500, where x is the number of units produced. What is the production level that minimizes cost?
40 units
10 units
20 units
25 units
A quadratic cost function reaches its minimum at x = -b/(2a). With a = 0.02 and b = -0.8, the minimizing production level is x = 0.8/0.04 = 20 units. This problem tests optimization using algebra.
0
{"name":"If a store sells a shirt for $40 and offers a 25% discount, what is the discounted price?", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"If a store sells a shirt for $40 and offers a 25% discount, what is the discounted price?, A product is marked up by 50% on its cost of $20. What is its selling price?, Calculate the simple interest earned on $1000 invested at an annual rate of 5% for 1 year.","img":"https://www.quiz-maker.com/3012/images/ogquiz.png"}

Study Outcomes

  1. Analyze and solve business math problems using appropriate formulas.
  2. Apply algebraic methods to compute financial calculations accurately.
  3. Interpret numerical data to support sound business decisions.
  4. Evaluate key financial concepts such as percentages, ratios, and interest rates.
  5. Synthesize mathematical techniques to solve complex business scenarios.

FBLA Business Calculations Cheat Sheet

  1. Accounting Equation - Think of it as the DNA of every balance sheet: Assets = Liabilities + Equity keeps your numbers alive and well. This nifty formula helps you spot when something's off before your boss does! 11 Accounting Formulas Small Business Owners Need to Know
  2. Break-Even Analysis - Crunch the numbers to find out when your biz stops owing and starts growing. By dividing fixed costs by the difference between selling price and variable cost per unit, you'll know exactly how many widgets you need to sell before turning a profit. It's a survival must-have in any financial toolkit. 11 Accounting Formulas Small Business Owners Need to Know
  3. Simple Interest - Calculate interest the straightforward way using SI = P × R × T, where P is principal, R is rate per year, and T is time in years. It's perfect for quick loans or refreshing your math mojo without the compounding frills. Use it to forecast what you owe or earn in just a few easy steps. Business Mathematics | GeeksforGeeks
  4. Compound Interest - Compound interest is like the snowball effect of finance: A = P × (1 + r/n)^(n×t) shows how your money grows faster when interest hits interest. Adjust the number of compounding periods per year to see the magic in action. Great for long-term savings, retirement accounts, or impressing friends with math wizardry! Business Mathematics | GeeksforGeeks
  5. Net Income - Net Income = Revenue - Expenses is your business's report card for profitability. It tells the tale of how well you turned sales into cold, hard cash after everything's paid. Keep an eye on it like you would your favorite game's high score! Business Mathematics | GeeksforGeeks
  6. Cost of Goods Sold (COGS) - COGS = Beginning Inventory + Purchases - Ending Inventory tracks the direct costs of producing your stellar products. It reveals how much you're really spending on materials each month. Knowing COGS is the secret sauce for accurate profit analysis and planning. Business Mathematics | GeeksforGeeks
  7. Markup Percentage - Markup Percentage = [(Revenue - COGS) / COGS] × 100 tells you by what percent you've marked up costs to set your sale price. It's the golden rule for pricing strategies so you don't sell yourself short. Use it to balance competitive pricing with healthy profit margins. Business Mathematics | GeeksforGeeks
  8. Return on Investment (ROI) - ROI = [(Investment Gain - Cost of Investment) / Cost of Investment] × 100 shows which bets pay off and which ones flop. It's your financial crystal ball for comparing different opportunities fast. Whether it's a new project or marketing campaign, ROI keeps you in the winner's circle. Business Mathematics | GeeksforGeeks
  9. Straight-Line Depreciation - (Cost of Asset - Salvage Value) / Useful Life of Asset spreads asset costs evenly like a financial butterfly. It's the simplest way to see how value drops year after year. Ideal for budgeting replacements of everything from laptops to warehouse robots. 11 Accounting Formulas Small Business Owners Need to Know
  10. Inventory Shrinkage - Inventory Shrinkage = [(Recorded Inventory - Actual Inventory) / Recorded Inventory] × 100 exposes the mystery of missing stock due to theft, damage, or miscounts. Tracking it helps you close loopholes before they cost you a fortune. Shrinkage control is a must for retailers and warehouse wizards alike. Business Mathematics | GeeksforGeeks
Make a Quiz (FREE) Copy & Edit This Quiz Create a Quiz with AI

Mathematics Quizzes

Powered by: Quiz Maker