quiz2- solutions
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School
Langara College *
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Course
1119
Subject
Mathematics
Date
Apr 3, 2024
Type
Pages
2
Uploaded by AdmiralAlbatrossMaster771
MATH1119 - Quiz 2 1.
(2 points) $559.35 is 113% of what amount? Rate
= Base
Portion
1.13 =
$559.35
Base
Base
=
$559.35
1.13
=
$495.00 2.
(3 points) The royalty rate performing artists receive from songs downloaded from Apple iTunes is 6.7%. If a band received royalties from Apple of $99,736.41 for a year, how many song downloads at $2.99 each did the band have for that year? The gross royalties ($99,736.41) are 6.7% of total revenue. That is, 0.067 =
$99,736.41
𝑇??𝑎𝑙 𝑟𝑒?𝑒??𝑒
Total revenue =
$99,736.41
0.067
= $1,488,603.13 Number of downloads at $0.99 each is $1,488,603.13
$2.99
=
497,861 3.
(2 points) $250 is what percent less than $750? Given: V
i
= $750, V
f
= $250 𝑐 = 250 − 750
750
x 100% = -66.67
4.
(3 points) The Edmonton Real Estate Board reports that the average selling price of homes last month in the greater Edmonton area was $338,500, an increase of 8.7% over the past year. Rounded to the nearest $100, what was the average selling price one year ago? Given: V
f
= $338,500, c
= 8.7% 087
.
1
500
,
338
$
=
+
=
c
1
V
V
f
i
= $311,400 The average price one year ago was $311,400
5.
(3 points) If the euro is worth 45% more than the Canadian dollar, how much less (in percentage terms) is the Canadian dollar worth than the euro? Given: Euro is worth 45% more than the Canadian dollar. That is, Euro = 1.45(Canadian dollar) Therefore, Canadian dollar = Euro
1.45
= 0.6897(Euro) = 68.97% of a Euro. That is, the Canadian dollar is worth 100% −
68.97% = 31.03% less than the Euro. 6.
(3 points) If the Canadian dollar is worth 6.5% less than the U.S. dollar, by what percentage does the U.S. dollar exceed the value of the Canadian dollar? If the Canadian dollar is worth 6.5% less than the US dollar, Canadian dollar = (1 −
0.065)(US dollar) = 0.935(US dollar) Hence, US dollar = 935
.
0
ollar
Canadian d
= 1.0695(Canadian dollar) Therefore, the US dollar is worth 6.95% more than the Canadian dollar.
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