Fundamental Quantitative Concepts Exercises

QRB501_R10_Fundamental_Quantitative_Concepts_Exercises_Excel_Template.xls

Instructions

1. You have ten problems - one on each tab of this Excel file.

2. Please show your work in the cells. Use Excel formulas instead of writing the values/answers directly in the cell.

The instructor will then know where you made a mistake and provide you valuable feedback and partial credit (if appropriate).

3. The grey cells are data values which are given (known values). The yellow cells are unknowns and have to be determined.

Total Points: 6

A scale drawing of an office building is not labeled, but indicates 0.25 inch = 5 feet.
On the drawing, one wall measures 2 inches. How long is the actual wall?
Inches	Feet
0.25	5
2
Refer to the Solved Example 5 on Page 166 of your text.

Marcus James purchased 2,500 pounds of produce. Records indicate he purchased 800 pounds of potatoes,
150 pounds of broccoli, and 390 pounds of tomatoes. He also purchased apples. How many pounds of apples
did he purchase?
	Total produce	pounds
	Potatoes	pounds
	Broccoli	pounds
	Tomatoes	pounds
	Apples	pounds
Refer to the Solved Example 1 on Page 163 of your text.

The formula for the installment price of an item purchased with ﬁnancing is Installment price = Total of installment payments + Down payment.
The formula can be written in symbols as I = T + D.
Part a	Find the installment price I if T = $24,846.38 and D = $2,500.
		=	+
Part b	Find the down payment for an installment loan if the installment price is $13,846.76 and the total of installment payments is $10,673.26.

		=	+
Part c	Find the total installment payments if I = $6,508.72 and D = $2,250.
		=	+

Wallpaper costs $12.97 per roll and a kitchen requires 9 rolls. What is the cost of the wallpaper needed to paper the kitchen?
	Cost	per roll
	Total rolls needed
	Total cost to paper kitchen

Wilson’s Auto, Inc., has 37 employees and a weekly payroll of $10,878. If each employee
makes the same amount, how much does each make?
	Total no. of employees
	Total weekly payroll
	Earnings per employee

Jacob Kennedy borrowed $30,000 to start up his consulting business. The loan had a simple interest
rate of 6.2% for 3 years. Use the formula I = PRT to ﬁnd the amount of interest he will pay on the loan.
I = interest; P = principal; R = rate (expressed as a decimal 0.062); T = time in years
	Principal (P)
	Interest (R)
	Time (T)	years
	Simple Interest (I)

A car odometer increased from 37,580.3 to 42,719.6. What was the increase?
New Value
Original Value
Amount of increase
	Absolute Change

A number decreased from 486 to 104. Find the amount of decrease.
New Value
Original Value
Amount of change
	Absolute Change

A number increased from 224 to 336. Find the percent of increase.
New Value
Original Value
Amount of increase		Absolute Change
Percentage increase
	Relative Change

A number decreased from 250 to 195. Find the rate of decrease.
New Value
Original Value
Amount of change		Absolute Change
Percentage change
	Relative Change