Chapter+10+sample+quiz

# Chapter+10+sample+quiz - Math 103 Section 11 2011 March 26...

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Math 103: Section 11 March 26, 2011 Sample quiz for Chapter 10 Problem like #1 or #2: 1. Stop & Shop marks up the price of eggs at 30% over cost. After a while, eggs go on sale for 20% off. When they don’t sell, the price is reduced by another 10% off. A customer buys eggs with a 5% off coupon. Is there a profit or loss to Stop & Shop? What is the percentage profit or loss to Stop & Shop? 2. For three consecutive years the tuition at a university increased by 1%, 2% and 3%, respectively. What was the overall percentage increase of tuition during the 3-year period? Simple interest problem in which you will be given 3 of the 4 variables and you will need to solve for the 4 th variable. You will be given the formula: F=P(1+rt) Here is an example: 3. 45 years ago Sally purchased a bond paying 4% annual simple interest. Today the investment has grown to a value of \$23,800. How much did Sally pay for the bond? Round your answer to the nearest dollar. Compound interest problem in which you will be given 3 of the 4 variables and you will

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Chapter+10+sample+quiz - Math 103 Section 11 2011 March 26...

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