The Ultimate Business Math Test Quiz #5

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1. What is 20% of R100.00 ?

Explanation

Simple percentage
20% x R100.00 = 0.2 x 100 = 20%

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About This Quiz
The Ultimate Business Math Test Quiz #5 - Quiz

The Ultimate Business Math Test Quiz #5 assesses key financial skills such as calculating VAT exclusions, revenue growth, markup, budget variances, percentage calculations, and discounts. It's designed to... see moreenhance practical business math understanding, crucial for financial decision-making. see less

2. Your Business's Assets are R500,000 Your Business's Liabilities are R200,000What is the net worth of your business ?

Explanation

Net worth = Assets less Liabilities
R300,000 = R500,000 less R200,000

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3. Your salaries budget was R500,000.00You landed up spending R520,000.00What was the actual versus budget variance ? 

Explanation

Actual less Budget = Variance
R520,000.00 less R500,000.00 = R20,000 overrun
If actual costs are greater than budgeted costs you have a negative variance
It means you spent more than you expected which results in an overrun against budget

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4. You sold your product for R80.00 which normally sold for R98.20What was your discount ?

Explanation

Discount = Normal price less discounted price
R98.20 less R80.00 = R18.20
R18.20 / R80.00 = 18.53% discount

Submit
5. You buy an article for R114.00 including VAT at 14%.What did it cost you exclusive of VAT ?

Explanation

To arrive at the exclusive VAT amount : R114.00 x 14/114 = R100.00 |
R100.00 exclusive of VAT + 14% = R114.00

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6. You generated R500,000 in revenue.Your Cost of Sales was R300,000.What is your Gross profit margin 

Explanation

Revenue less Cost of Sales = Gross Profit
Gross profit / Revenue = Gross Profit Margin
(R500,000 less R300,0000) = R200,000 / R500,000 = 40%

Submit
7. Your revenue grew from R5m per annum to R5.2m.What was your revenue growth ?

Explanation

Rand value growth = R5.2m - R5m = R0.2m
Percentage growth = R0.2 / R5.0m = 4.00%
(New Less Old) / (Old)

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8. Your Current Assets are R250,000 compared to R180,00 in Current Liabilities.What is your the ratio of Current assets to Current Liabilities ?

Explanation

Current Assets to Current Liabilities
250,000 : 180,000
CA: 250,000 / 180,000 = 1.39
CL: 180,000 / 180,000 = 1
1.39 : 1

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9. Last year you paid R120.00 for a product and this year it cost you R131.20What is the rate of inflation ?

Explanation

New price less Old price / (Old price)
R131.20 less R120 = R11.20
R11.20 / R120 = 9.33% rate of inflation

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10. You sell your product for R20.00 which cost you R15,40What is your markup ? 

Explanation

Gross Profit Margin = Sales Price – Unit Cost = R20.00 – R15.40 = R4.60

Markup Percentage = Gross Profit Margin/Unit Cost = R4.60 / R15.40 = 30%.

So you sold you product at a 30% markup on what it cost you.

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What is 20% of R100.00 ?
Your Business's Assets are R500,000 Your Business's...
Your salaries budget was R500,000.00You landed up spending...
You sold your product for R80.00 which normally sold for R98.20What...
You buy an article for R114.00 including VAT at 14%.What did it cost...
You generated R500,000 in revenue.Your Cost of Sales was R300,000.What...
Your revenue grew from R5m per annum to R5.2m.What was your revenue...
Your Current Assets are R250,000 compared to R180,00 in Current...
Last year you paid R120.00 for a product and this year it cost you...
You sell your product for R20.00 which cost you R15,40What is your...
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