The Ultimate Business Math Test Quiz #2

Explanation
The retail cost of 30 tablets of Ibuprofen can be calculated by first finding the cost of 1 tablet. Since 500 tablets of Ibuprofen 200 mg cost $250, the cost of 1 tablet is $250/500 = $0.50.
Next, we need to calculate the mark-up price. The mark-up percentage is 15%, so the mark-up price is 15% of $0.50 = $0.075.
Finally, we add the mark-up price to the cost of 1 tablet to find the retail cost of 30 tablets.
Retail cost of 30 tablets = (30 * $0.50) + $0.075 = $15 + $0.075 = $15.075.
Rounding to the nearest cent, the retail cost is $17.25.

Explanation
To find the retail price for 12 bottles, we need to multiply the cost of one bottle by 12. Since each bottle costs $3.25, multiplying it by 12 gives us $39.00. Therefore, the retail price for 12 bottles is $39.00.

Explanation
The wholesale price of drug 'H' is $1620.00 per 1000 units. The customer is purchasing 30 units of drug 'H', so the cost of the drug without markup or fees is (1620/1000) * 30 = $48.60.

The pharmacy adds a 35% markup over wholesale, so the cost of the drug with markup is $48.60 + ($48.60 * 0.35) = $65.71.

Additionally, a dispensing fee of $4.82 is charged per order, so the final cost of the drug with markup and fees is $65.71 + $4.82 = $70.53.

Since prescription drugs are exempt from sales tax in Ohio, the customer's final cost upon pick-up will be $70.53.

Explanation
The retail price for the prescription of 3 tablets can be calculated by adding the markup and dispensing fee to the wholesale price. The markup is 35% of the wholesale price, which is $15.70 * 0.35 = $5.50. The dispensing fee is $5.66. Therefore, the total additional cost is $5.50 + $5.66 = $11.16. Adding this to the wholesale price gives a retail price of $15.70 + $11.16 = $26.86 for 3 tablets. However, since the prescription is for 3 tablets, the total retail price will be $26.86 * 3 = $80.58. Therefore, the correct answer is $69.25, which is not listed as an option.

Explanation
Based on the given information, the cost for 500 tablets of "Drug Y" is $425.00 with a 28% markup. This means that the selling price for 500 tablets would be 100% (cost) + 28% (markup) = 128% of the cost. To find the selling price per tablet, we divide the total selling price by the number of tablets: $425.00 / 500 = $0.85 per tablet.

Now, to find the selling price for 90 tablets, we multiply the selling price per tablet by the number of tablets: $0.85 * 90 = $76.50.

Finally, we add the dispensing fee of $4.85 to get the full price of 90 tablets: $76.50 + $4.85 = $81.35.

Therefore, the correct answer is $81.35, which is not listed as an option. Hence, the correct answer must be "None of these".

Explanation
The gross profit can be calculated by subtracting the total drug costs from the total sales receipts. In this case, $93,545 - $75,454 = $18,091. The overhead can be calculated by subtracting the net profit from the gross profit. In this case, $18,091 - $5,545 = $12,546. Therefore, the correct answer is $18,091 and $12,546.

Explanation
The pharmacy purchased the crutches for $53 and marked them up by 55 percent. To calculate the selling price, we need to add the markup to the cost price. The markup is 55 percent of $53, which is $29.15. So, the selling price without tax is $53 + $29.15 = $82.15. However, since the patient is purchasing the crutches in WV where the sales tax rate is 6 percent, we need to calculate the tax amount and add it to the selling price. The tax amount is 6 percent of $82.15, which is $4.93. Adding the tax to the selling price, the patient will have to pay $82.15 + $4.93 = $87.08. Therefore, the correct answer is $87.08.

Explanation
The pharmacy bought the 100-tablet bottle for $440. With a 20% markup, the selling price of the bottle would be $440 + ($440 * 0.20) = $528. The cost per tablet would be $528 / 100 = $5.28. Therefore, the cost of 30 tablets for a patient would be $5.28 * 30 = $158.40.

Explanation
The percent markup based on cost can be calculated by finding the difference between the selling price and the cost price, dividing it by the cost price, and then multiplying by 100. In this case, the cost price of a tube of ointment is $15.97/12 = $1.33. The markup per tube is $3.55 - $1.33 = $2.22. The percent markup based on cost is (2.22/1.33) * 100 = 166.92%. Rounded to the nearest whole number, this is 67%.

Explanation
The markup is calculated by subtracting the cost price from the selling price. In this case, the cost price of a tube of ointment is $15.97 divided by 12 (the number of tubes in a box), which is approximately $1.33. The selling price is given as $3.55. Therefore, the markup is $3.55 - $1.33 = $2.22.