St.

Judel Institute of Technology

#30 Karuhatan Rd. Karuhatan Valenzuela City, Valenzuela
Business Mathematics
(Midterm Exam)
Problem Solving

1. The sales of Abaya’s Enterprise last year were P116,789.28. The inventory at the beginning of the year was
P48,024.65. Purchases amounted to P39,403.76; operating expenses, P26,792.48 and ending inventory
amounted to P12,536.18. Find (a) cost of goods sold; (b) gross profit; (c) net profit.
2. Last month, the sales of a hardware store reached P8,647.40. The beginning inventory was P5,472.55;
purchases, P4,891.30; ending inventory, P2,476.80 and overhead, P1,867.30. Find (a) cost of good sold; (b) net
loss.
3. On the morning of September 30, Mrs Wenda Estrada deposited the following at the Producers Bank: 248
pieces of P100 bills; 119 pieces of P50 bills; 89 pieces of P20 bills; 37 pieces of P10 bills; 105 pieces of P5 bills;
185 pieces of P1 coins; 112 pieces of 50-centova coins and 67 pieces of 25-centavo coins. Find the total deposit
of Mrs. Estrada.
4. The profits of a business corporation for four consecutive years amounted to P1,165,785. For the first year, the
profit was P185,160; P220,375 for the second year and in the fourth year the profit was twice the second year
profit. What was the profit for the third year?
5. Find the total cash receipts from each of the following departments and the total for each month for all
departments. Prove by adding horizontally and vertically.

Month Groceries Dry Goods Hardware

January P4,509.20 P1,625.38 P2,715.39 ____________

February 3,918.43 2,348.62 1,046.92 ____________
March 4,718.55 1,516.83 989.75 ____________
April 1,995.86 3,824.95 1,316.45 ____________
May 2,608.39 1,614.75 3,491.25 ____________
June 3,712.42 2,399.85 2,112.36 ____________

Total __________ __________ __________ ____________

6. Last month, the readings of electric consumption in 10 residential houses were the following: Find the number
of kilowatt used.

Previous Reading Present Reading Kilowatt Used

a. 4442 4648 _____________________

b. 3988 4226 _____________________
c. 3773 3988 _____________________
d. 3581 3773 _____________________
e. 8312 8616 _____________________
f. 8617 8834 _____________________
g. 9053 9278 _____________________
h. 9748 9987 _____________________
i. 0460 0720 _____________________
j. 1390 1658 _____________________
7. From the data below, find the total receipts and total payments, then find the ending balance.

Receipts Payments

P 6,383.15 P 998.45
935.12 715.36
856.08 349.29
1,345.22 2,145.32
3,437.51 678.12
2,569.29 299.35
5,118.41 1,409.69
4,316.98 315.85
375.83 3,400.76

Total _________ ___________

Ending Cash Balance ____________________

8. The savings account of Yasmin showed the following:

Date Deposit Withdrawal Balance

June 7 P3,042.66
Aug. 19 P 1,005.85 ____________________
Sept. 24 564.23 P 450 ____________________
Oct. 17 385 ____________________
Oct. 31 895.68 ____________________
Nov. 5 218.60 ____________________
Nov. 16 647.38 479.20 ____________________
Dec. 13 390.00 ____________________
Dec. 15 1,000.00 ____________________
Dec. 22 650.00 ____________________
Dec. 26 300.00 ____________________
Dec. 31 1,200.00 ____________________
a. Fill up the balance for each date. ____________________
b. Find the total deposits. ____________________
c. Find the total withdrawals. ____________________
d. Find the ending balance. ____________________

9. Shown below is the cash budget of the George Aca family for the week of April 1.

The George Aca Family

Cash Budget
Week of April 1, 19____
 Explanation Estimated Receipts Estimated Payments

Balance, April, P315.00

Salary P750.00
Electric Bill P 45.00
Food 600.00
Transportation Fare 40.00
Newspaper Bill 15.00
Miscellaneous Expenses 150.00
Savings Deposit 100.00

Find the estimated cash balance on April 7 __________________________

10. Find the net sales.

Gross Sales Returns Net Sales

a. P5,401.73 P 990.95 ____________________

b. 2,756.35 584.33 ____________________
c. 4,819.71 1,030.27 ____________________
d. 7,009.62 2,341.39 ____________________
e. 3,709.18 569.46 ____________________

11. Shown below is the cashbook of the Ortiz’ family for the week of June 7.

Date Explanation Receipts Payments

June 7 Balance, P175.00

7 Medicine P 36.75
8 Salary P650
9 Water Bill 24.50
10 Groceries 120.90
13 Foods 385.00
13 Miscellaneous Expenses 105.90

a. Find the total payments of the week. ____________________________

b. Find the cash balance on June 13. ____________________________
12. Find the net balance of the following current accounts.

Previous Balance Check Issued Balance

a. P13,707.86 P5,451.96 ________________________

b. 989.59 356.00 ________________________
c. 4,214.75 939.40 ________________________
d. 5,711.80 1,450.00 ________________________
e. 11,942.64 4,576.25 ________________________
f. 8,759.18 756.00 ________________________
g. 7,111.92 516.83 ________________________
h. 25,758.49 3,670.55 ________________________
i. 9,153.00 888.75 ________________________
j. 10,312.39 2,004.66 ________________________