CAP Business Math and Calculations

Question 1

What is 15% of $2,400?

Accepted Answer

$360.00

Answer

$2,400 × 0.15 = $360.00.

Question 2

A vendor invoice shows terms of 3/10, n/30. What does '3/10' mean?

Accepted Answer

A 3% discount is available if the invoice is paid within 10 days

Answer

Trade discount terms written as 3/10 mean the buyer earns a 3% discount if the invoice is paid within 10 days of the invoice date.

Question 3

An invoice totals $850.00 and a 2% early-payment discount applies. What is the discounted amount due?

Accepted Answer

$833.00

Answer

$850.00 × 0.02 = $17.00 discount; $850.00 − $17.00 = $833.00.

Question 4

What is 3/8 expressed as a decimal?

Accepted Answer

0.375

Answer

3 ÷ 8 = 0.375.

Question 5

An employee earns $18.50 per hour and works 42 hours in a week. Overtime (hours over 40) is paid at 1.5× the regular rate. What is the total gross pay?

Accepted Answer

$795.50

Answer

Regular pay: $18.50 × 40 = $740.00; OT rate: $18.50 × 1.5 = $27.75; OT pay: $27.75 × 2 = $55.50; Total: $740.00 + $55.50 = $795.50.

(CAP) Certified Accounting Paraprofessional Practice Test

(CAP) Certified Accounting Paraprofessional Practice Test

CAP Business Math and Calculations