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Word Problems on Consumer Math
Word problems on consumer math are practical mathematics used in everyday life. The concept on consumer math will teach us how to apply these techniques in real life situations such as buying a car, banking, budgeting your money, investing, paying taxes, and managing a household,
Word problems on consumer math:
1. Find the mark-up on retail for an article with a wholesale price of $20 that sells for $35. I have to find the answer to the nearest tenth.
Answer: 75%
2. Find the price for 48 ounces at 2.40
Answer: 115.2
3. Find the selling price for a 5000 bond with a quoted price of 80 1/2
Answer: 402500
4. Choose the better buy 1 litter at 1.06 or 1 quart at 1.06
Answer: 1 liter at 1.06
5. Find the mark-up on cost for a dress bought for 18 and sold for 90
Answer: 400%
6. Find the overtime rate if straight time pay is 11.80 per hour and time and a half is paid for overtime.
Answer: 17.7 per hour
7. Find the new balance for 1000 left on deposit for 6 months at 4% interest compounded quarterly
8. Find the cost for 3.5 yards of fabric at 8.50 per yard
Answer: 29.75
9. Find the total cost to purchase 1,200 in traveller’s checks if a 1 3/4 % is charged
Answer: 1221.
10. House assessed at 150,000 property rate is9.17 per thousand. What’s the amount of annual property tax?
Answer: Annul Party Tax: 1375.50
11. Seven corporate 1,000 bonds quoted at 101 3/4 were purchased. if a 10$ brokerage fee was paid per bond find the total cost
Answer: $ 111750
12. Sold 12, $1000 bonds quoted price 102 broker charged 1 ½ %. What’s the total amount?
13. Larry owed a credit card company 4,000. He paid 350 one month and didn’t charge anything else he is charged 1.8% monthly interest on the unpaid balance. How much will his new balance be?
Answer: $ 3715.7
14. Bonds selling price 950, annual interest 76, annual yield would be?
15. Quotation price 73 1/2, purchased 150, total price?
Answer: 11025
16. Face value 1,000, quoted price 98, interest rate 10%, and interest period Jan 1 through Jan 11, accrued interest?
17. Find the rate of commission on a 15,000 dollar sale if commission is 45$
Answer: 0.30%
18. James borrowed $ 9000 for 3 1/2 years at 12% interest, what’s the interest?
Answer: $3780
To become well-informed consumer, students can practice the different types of word problems on consumer math.
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