Page 60 - Calculating Agriculture Cover 20191124 STUDENT - A

4-22 Percentages, Ratios and Relationships CH 4]

Homework #4-2
Name: ________________________________
Problems 1-26
Instructions: When given a percent ALWAYS convert it to its decimal equivalent
and then perform the arithmetic of the problem.

Refer to Pages 4-7 to 4-11
A) Solve these problems. Where applicable in each of the following problems,
round to the nearest cent.

1. Your bookstore sells its textbooks for 27% more than its cost. What is the
selling price for a text book costing your store $65?

$65.00 x 0.27 = $17.55

$65.00 + $17.55 = $82.55 Sale price

(1 + 0.27) x $65 = $82.55

2. Ralph Shirley bought an Automobile that was priced at $15,425. He made a
down payment of 20% of the price. How much was the down payment?

$15,425.00 x 0.20 = $3,085.00 Down Payment

3. Dean Martin owns 652 shares of stock for which he paid $24.50 a share. The
dividends that he received during the past year represent a 9.4% return on his
investment. What is the total amount of the dividends he received during the
year?

652 x $24.50 x 0.094 = $1,501.56 Value of Dividends

Refer to Pages 4-10 to 4-12
B) Calculate the Amount of sales tax for each of these purchases. Where
applicable in each of the following problems, round to the nearest cent.

4. 7% of $312 5. 8.2% of $119.47
0.07 x $312 = $21.84 0.082 x $119.47 = $9.80

6. 10% of $691 7. 9.125% of $2,512
0.10 x $691 = $69.10 0.09125 x $2,512 = $229.22

8. 7.4% of $247 9. 6.5% of $96
0.074 x $247 = $18.28 0.065 x $96 = $6.24

Refer to Pages 4-12 & 4-13
C) Using the Luxury tax rate of tax and sales tax as indicated on each sale, (a)
calculate first the total tax and then (b) the total cost for the buyer. Where
applicable in each round to the nearest cent. Total Tax + Sale Price = Total
Cost.

10. Sales tax 7%, luxury Tax 10%, sale price of airplane $452,000.

(a) (0.07 + 0.10) x $452,000 = $76,840 Total Tax

(b) $76,840 + $452,000 = $ 528,840 Total Cost

11. Sales tax 8.2%, luxury tax 10%, sale price of sail boat (yacht), $534,000.

(a) (0.082 + 0.10) x $534,000 = $97,188 Total Tax

(b) $97,188 + $534,000 = $ 631,188 Total Cost

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