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Consumer Math A unit 1 a
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Terms in this set (59)
The earliest form of trade was____.
Bartering
Negotiating in trade means you are___.
Coming to an agreement on an item's value.
If a dozen eggs (12 eggs) are worth 3 cowry shells, how much would 6 dozens eggs be worth?
18 cowry shells
I have 7 cowry shells. If a dozen eggs (12 eggs) cost 3 cowry shells, how many dozens can i purchase?
2 dozen
The biggest problem when using metals (or cowry shells) for trading is___.
Large amounts become very heavy to carry around
The gold standard is___.
No longer used by many countries
When using metal as the exchange basis, two coins must have the same value if___.
The are the same weight and the same metal
If gold is currently trading at $800.00/oz. and you inherited a gold coin worth $1600.00, how much does the coin weight?
2 oz.
Currency exchange rates are based on___.
Each country's economy
When needing to complete a you should___.
Go to a currency exchange rates
You are traveling to japan and need Japanese Yen (JPY). How much JPY could you get for $200 USD if the rate is USD/JYP 0.9333?
186.66 JPY
You have returned from a trip to Europe and still have $100 euro. How much in U.S. dollars should you receive if the exchange rate is USD/EUR 0.6991?
$143.04 USD
Smart shoppers usually buy items that they need__.
At their lowest cost
When adding decimals by hand, you must___.
Line up the decimals of the numbers then add from right-to-left
You buy a serving spoon for $4.05 and a bread knife for $3.99. What is the total cost of your purchase?
$8.04
You buy some living room furniture: couch = $499.99, loveseat = $239.49 and rocker = $139.73. How much is your total purchase?
$879.21
when using a calculator, be sure you press____first.
"C" to clear any previous calculations
You spent $103.46 the original price totaled $165.77. How much did you save?
$62.31
The original cost of a lamp is $18.95. The lamp is on sale for 75% off. How much will you pay?
$4.74
When trying to find the best deal items, you should___.
All of the above
If you calculating a 15% off discount, you need to ___to know the sale price.
Multiply the original price by 85%
You are purchasing 2 shirts at $15.00 (each) and 1 pair of jeans at $30.00 (each). You have a coupon for 10% off. How much is the total cost with the discount?
$54.00
The original sale price of an item at Markdown is $110.95. You have an additional 20% off coupon for Markdowns for purchases totaling $90.00 or more using the coupon, how much more do you save when compared to the original sale price?
$22.19
Bartering was an early way that people___.
Exchanged a good or service directly for a good or service
Currency is used to __.
Make the exchange of goods or service easier
Reducing the original price of an item is often called____.
Discounting
People wait for sales to___.
Get the best price for a good
When calculating how much you saved, you have to ____.
Subtract the sale price from the original price
Exchange rates help you to know___.
How much your currency is worth in another currency
Using the following information, how much will you save compared to the original prices if you buy one T-shirt and one pair of sandals at the sale prices?
$12,45
When exchanging from your currency to another country's currency using a foreign rate exchange table, you should___.
Multiply the amount you have by the exchange rate
You are traveling to Colombia, where the currency is the Colombian peso (COP). The exchange rates is USD/COP 1,983.24. How many Colombian pesos will you get if you exchange $100 USD?
$198,324.00 COP
You are returning from a trip to Italy with 100 euro. The exchange rate is USD/EUR 1.3847. How much in US dollars should you receive?
$72.22 US
Which activity at the grocery store would not involve mathematics?
Choosing what kind of apple to buy
When calculating total savings, you must___.
Calculate the total cost of the item when not on sale and subtract the sale cost.
You go to the grocery store and find that bread is $4.99 for one loaf or two loaves for $6.50. how much would you save by buying two loaves at the discounted price, compared to the cost of buying two loaves at full price?
$3.48
You buy 2 gallons of milk at $2.48/gallons of ice cream at $1.49/gallon, and 5 lbs of strawberries at $0.58/lb. What is your total cost?
$12.33
Store brands have a tendency to be ___.
Less expensive than brand names
"Stackable" coupons___.
Allow you to add a discount onto another discount
You are buying two bags of potato chips at the grocery store. You have a manufacture's coupon for $0.50 off and the store is offering 50% off if you buy two bags. The discounts are stackable. How do you compute your final cost?
Add the two bags together, divide by 2, and then subject $0.50
You are buying two bags of potato chips at the grocery store. You have a manufacturer's coupon for $0.50 off and the store is offering 50% off if you buy two bags . One bag of potato chips cost $2.00 . The discounts are stackable. What is your final cost?
$1.50
Sales tax is ___.
all of the above
To calculate the total purchase price of on-sale items with a 6% sales tax, you must___.
Add the sales prices and multiply by 1.06
You purchase a stereo that originally costs $250 but is marked 10% off. The sales taxis 5%. How much of your total purchase cost is sales tax?
$11.25
You purchase 3 packs of batteries at $11.99/ pack. You have a coupon for 10%off and the sales tax is 7%. how much is the total cost of your purchase?
$34.64
Percentages are___.
all of the above
____Is an additional amount added to the total purchase price.
sales tax
When calculating your final total, including sales tax, you must___.
Multiply the sales tax percentage by the sales cost of the purchase (including any applicable discounts) and then add it to that total
sales tax is___.
given to the state government
Before going to the grocery store, you should___.
all of the above
You buy 6 apples at $0.49/apples, 1 gallon of milk at $3.48/gallon, and 2 loaves of bread at $1.49/loaf. How much was your total purchase?
$9.40
using your total from #6, calculate the total purchase cost if the sales tax is 4% on foods.
$9.78
The grocery store has a special deal on potato chips where if you buy 1 bag you get the second bag for 50%off. if the sales tax is 5%, how much is your total purchase for 3 bags of chips ig each bag costs $2.50?
$6.56
You go to electronics store to buy 3 CDs. Each CD's original cost is $9.99. You have a coupon for 10% off and the sales tax is 6%. What is your total purchase cost?
$26.97
At the electronics store you have a coupon for 20% off of up to 2 CDs. You buy 4 CDs with an original cost of $10.99/each. The sales tax 5%. what is the total cost of your purchase?
$41.45
outlet malls sell goods___.
At a discount
When calculating your total purchase on sale items, you must____.
Add all the items together at their sales cost the add sales tax
If you buy 3 pairs of socks with an original cost of $9.99/pair at a discount of 15% with a sales tax of 5%, how much do the socks cost in total?
$26.75
You buy 3 pants an original cost of $24.99 and the sale is buy 1 get the 2nd pair half off. The sales tax is 6%. How much do you pay in total for the pants?
$66.23
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