EASY 1x
This is a fixed amount paid regularly every month, regardless of hours worked.
Salary
An employee earns ₱600,000 annually. What is the monthly salary?
A. ₱600,000
B. ₱50,000
C. ₱100,000
D. ₱25,000
B. ₱50,000
Leo purchases a tablet for a net price of ₱12,000. The government requires a 12% VAT on gadgets. Another store offers the tablet at a VAT-inclusive price of ₱13,440. How much VAT will be added to Leo’s purchase? What is the final price including VAT?
A. ₱1,440 & ₱13,440
B. ₱1,440 & ₱12,000
C. ₱1,404 & ₱13,440
D. ₱1,440 & ₱12,000
A. ₱1,440 & ₱13,440
MARK-UP, MARK-ON, or MARK-DOWN?
A clothing store buys a T-shirt for ₱350 and sells it for ₱500.
Mark-up
This type of pay is based on the number of hours or days worked.
Wage
A salesperson sold ₱250,000 worth of products and earns 6% commission. How much commission did the salesperson earn?
A. ₱250,000
B. ₱15,000
C. ₱150,000
D. ₱150
B. ₱15,000
A product cost ₱10,000 in 2022.
If inflation is 5% per year, what is its estimated price in 2024?
A. ₱11,025 B. ₱11,250 C. ₱11,205 D. ₱11,000
A. ₱11,025
MARK-UP, MARK-ON, or MARK-DOWN?
A grocery store sells a bottle of cooking oil for ₱180. Because of high demand, the manager increases the price to ₱200.
Mark-on
A worker earns ₱50 for every bag sewn. This type of earning is called ________.
A. Salary B. Wage C. Piecework D. Commission
C. Piecework
A bag costs ₱800 and is sold for ₱1,000. What is the mark-up?
A. ₱800 B. ₱1,000 C. ₱200 D. ₱500
C. ₱200
A watch costs the store ₱12,000. The store applies a 35% mark-up. What is the selling price?
A. ₱16,200
B. ₱16,000
C. ₱12,200
D. ₱12,000
A. ₱16,200
MARK-UP, MARK-ON, or MARK-DOWN?
A laptop was first sold for ₱42,000. During the holiday season, the store raised the selling price to ₱45,000.
Mark-on
The Philippines charges this percentage as the standard VAT.
A. 5% B. 12% C. 20% D. 50%
B. 12%
An item originally costs ₱5,000. A 12% VAT is added. What is the final price?
A. ₱5,600 B. ₱5,000 C. ₱600 D. ₱4,400
A. ₱5,600
An employee earns ₱480,000 annually. He works 22 days per month and 8 hours per day. Last week, he worked 2 overtime hours. Overtime is paid at 1.25× the hourly rate. How much did he earn from overtime only?
A. ₱40,000
B. ₱227.27
C. ₱1,818.18
D. ₱568.18
D. ₱568.18
MARK-UP, MARK-ON, or MARK-DOWN?
A department store advertised a 25% OFF sale on all jackets.
Mark-down
A worker earns 5% of every product sold. This earning is called ________.
A. Salary B. Wage C. Piecework D. Commission
D. Commission
An employee earns ₱150 per hour and works 2 overtime hours. Overtime is paid at 1.25× the hourly rate. How much overtime pay does the employee receive?
A. ₱375 B. ₱187.5 C. ₱150 D. ₱300
A. ₱375
A smartphone originally costs ₱25,000. Due to inflation, its price increases by 5% per year for 2 years. Afterward, a store applies a 20% mark-up, then offers a 10% discount, and finally adds 12% VAT. What is the final price the customer pays?
A. ₱39,339.60
B. ₱33,339.60
C. ₱39,336.90
D. ₱33,339.06
B. ₱33,339.60
Full Name of your General Mathematics Teacher
Fernando B. Margallo Jr.