Business Math Reviewer
BUSINESS MATH SEMESTER REVIEW
I. BANKING
1. In a check with the correspondent stub, students should know how to:
* Record transactions.
* Determine who is the payee, the drawee, the drawer, the banks identification number, the account number, write checks, calculate balances, etc.
2. With a list of transactions, all dated and numbered, students are requested to prepare a Bank Reconciliation.
II. PERCENTS, DECIMALS AND FRACTIONS
1. Students should be prepared to make conversions as follows: Decimals to percents, Percents to decimals, Fractions to percents, Percents to fractions
2. Calculate rate of percents of increases and decreases.
Examples for conversions:
1. Convert the following decimals to percents . 0.75; 9.00; 6.006
2. Convert the following percents to decimals: . 18%; 45⅞%; 119%
3. Convert the following fractions to percents: . ⅞ %; [pic]%; [pic]%
3. Convert the following percents to fractions and reduce to lowest terms: . 6%; 31[pic]%; 182%
Sample Problems:
1. Colegio Menor has 600 male students. This is 60% of the total student body. How many students attend Colegio Menor?
2. The price of TI calculators dropped from $29.95 to $ 16.99. What was the percent decrease in price?
III. TRADE DISCOUNTS AND CASH DISCOUNTS
Students should know how to: • Calculate single and trade discounts with formulas and complements. • Find List Price when net price and trade discount rate are known. • Calculate chain discounts with the net price equivalent and single equivalent discount rate. • Explain the freight terms FOB and their effect on cash discounts. • Understand the use of credit periods. • Calculate outstanding balance for partial payments.
Exercises as Tables: Net Price Single
I. BANKING
1. In a check with the correspondent stub, students should know how to:
* Record transactions.
* Determine who is the payee, the drawee, the drawer, the banks identification number, the account number, write checks, calculate balances, etc.
2. With a list of transactions, all dated and numbered, students are requested to prepare a Bank Reconciliation.
II. PERCENTS, DECIMALS AND FRACTIONS
1. Students should be prepared to make conversions as follows: Decimals to percents, Percents to decimals, Fractions to percents, Percents to fractions
2. Calculate rate of percents of increases and decreases.
Examples for conversions:
1. Convert the following decimals to percents . 0.75; 9.00; 6.006
2. Convert the following percents to decimals: . 18%; 45⅞%; 119%
3. Convert the following fractions to percents: . ⅞ %; [pic]%; [pic]%
3. Convert the following percents to fractions and reduce to lowest terms: . 6%; 31[pic]%; 182%
Sample Problems:
1. Colegio Menor has 600 male students. This is 60% of the total student body. How many students attend Colegio Menor?
2. The price of TI calculators dropped from $29.95 to $ 16.99. What was the percent decrease in price?
III. TRADE DISCOUNTS AND CASH DISCOUNTS
Students should know how to: • Calculate single and trade discounts with formulas and complements. • Find List Price when net price and trade discount rate are known. • Calculate chain discounts with the net price equivalent and single equivalent discount rate. • Explain the freight terms FOB and their effect on cash discounts. • Understand the use of credit periods. • Calculate outstanding balance for partial payments.
Exercises as Tables: Net Price Single