Department of Education

Division of Cebu Province

COMPOSTELA NATIONAL HIGH SCHOOL – DAY CLASS
Final Exam in Business Mathematics
GAS 1, 2, 3 & ABM 12

Name: ___________________________ Date: _______________ Strand: _______________ Score: ________

Test I. Encircle the letter that corresponds to the best answer. If the answer is not in the choices provide it.
1. What is the total earning if your net income is P20 000 and your total deduction is P 5 000?
a. P 25, 000 b. P 15, 000 c. P 4, 000 d. none of the above
2. Mr. Xavier’s annual net income is P 700 000. What is his annual gross income if the total deduction is 30% of
his gross?
a. 1.1 million b. 1 million c. 0.9 million d. 0.8 million
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3. What is your 13 month pay if your basic monthly salary is P30 000?
a. P20 000 b. P30 000 c. P40 000 d. P13 000
4. If the minimum wage is P500 and they are exempted from taxes and the deduction is about the benefits of
a wage earner like Philhealth, SSS, and/or retirement. What is the monthly gross income if this employee
works 6 times a week and there are 4 weeks in a month?
a. P10 000 b. P11 000 c. P12 000 d. P13 000
5. Suppose a company gives an employee a clothing allowance amounting to P3500 semiannually, then which
of the statements is true?
a. The allowance is taxable c. It depends if the employee is a private or gov’t
b. The allowance is not taxable d. Some amount of the allowance is taxable.
6. The minimum retirement pay R is given by the formula R=22.5*P*T where P is the daily rate and T is the
number of years served. Suppose P=2 500 and T=10, then what is the value of R?
a. P520 000 b. P526 500 c. P562 500 d. P565 200
7. The company will monetize Ms. Deanne’s sick leave credits which is equivalent to 22 days. Assuming that
her daily rate is P500, then what is her additional income?
a. P 10 000 b. P 11 000 c. 12 000 d. P13 000
8. An employee worked from 8 PM to 6 AM with a regular pay of 200 per hour. What is his pay for this time if
the night differential pay, only valid from 10 PM to 6 AM and is 1.1 of that regular pay?
a. P 1620 b. P2 160 c. P 2 610 d. none of the above
9. Jordan worked on a holiday where the pay is 1.25 of the regular pay. If his regular daily rate is P 1 800, then
what is his holiday pay?
a. P2 025 b. P2 250 c. P2 520 d. none of the above
10. Jenny earns P 30 000 a week. She is paid every two weeks. What gross pay does she receive every payday?
a. P 30 000 b. P60 000 c. P90 000 d. P120 000
11. Mr. Yaguchi’s work starts from 2:00 PM until 11:00 PM. If his hourly rate is P523.50, how much is his daily
income?
a. P4 376.35 b. P4 673.5 c. P4 763.85 d. P4 876.35
12. An employee earned a gross of P40 200. This gross is inclusive of P300/hour in his part-time job where he
worked for 34 hours in a month. What is then his total gross income without his part time pay?
a. P 30 000 b. P60 000 c. P 90 000 d. P 120 000
13. Renzo works for 9 hours and earns P890 on a regular day. How much is his overtime pay?
a. P 97.80 b. P 107.58 c. P 108.57 d. none of the above
14. Selene’s deduction is 45% of her total gross income. If her annual total deduction is P400 000, then what is
her net income?
a. P488 888.89 b. P466 666.67 c.P433 333.33 d. P400 000
15. Which of the following government agencies/departments do you think is the least relevant in relation to
salaries and wages?
a. Department of Labor and Employment c. Bureau of Internal Revenue
b. Social Security System d. Department of Education
16. Measures of central tendency for a given set of observations measures ____________________.
a. the spread of the observations c. central location of the observations
b. range d. both A and B
17. Which of the following measures of central tendency is affected by extreme values?
a. Mean b. median c. mode d. range
18. Which of the following shows the range of values of the middle of the distribution?
a. interquartile range b. range c. standard deviation d. variance
19. Which of the following is the graphical representation of the frequency distribution table?
a. bar graph b. histogram c. line graph d. pie chart
20. If you want to find out the units of measurement used in the numerical information in a statistical table,
which of the following parts should you look for?
a. Box head b. footnotes c. prefatory notes d. source notes
21. A real estate agent sold a piece of property for P 50 000. His commission is 7.5%. How much does he
receive?
a. P 13 000 b. P 13 750 c. P 12 000 d. P 12 750
22. How much would you have to deposit at 4% in order to withdraw P 819 at the end of 1 year and 3 months?
a. P500 b. P 650 c. P 780 d. P 700
23. Sarah earns a base salary of P 350 every week with an additional 10% commission on everything she sells.
If Sarah sold P 2 200 worth of items last week, what was her total pay?
a. P570 b. P500 c. P430 d. P525
24. Jim works at a store where he is paid a weekly salary of P 125 plus a 5 ½% commission on his total sales.
On a particular week, Jim sold a total of P985. How much did Jim earn that week?
a. P117.15 b. P108.4 c. P179.18 d. P150
25. A salesman earns a monthly salary of P850 plus a 9% commission on all sales above P6000. On a particular
month, he had total sales of P11 875. How much did he earn in all that month?
a. P1378.75 b. P1350.25 c. P1250 d. 1375
Test II. Write TRUE if the statement is correct and FALSE if it is incorrect.
___________ 1. The amount earned by any person before subtracting the taxes, benefits, loans and other possible
deductions is called net pay.
_____________2. A payment in excess of the regular payments of the employee ( including the payments due to
holidays and other possible benefits) is called holiday pay.
_____________3. Given the daily rate P and the number of years T, the minimum retirement pay R is given by the
formula R= 22.5*P*T.
______________4. Let x be the annual basic salary of an employee. The 13th month pay of the employee must be the
1/12 of x.
______________5. The payment of regular daily wage for any unworked regular holiday is referred to as holiday pay.
______________6. A benefit that can only be availed by pregnant women is called paternity benefit.
______________7. Uniform and clothing allowance not exceeding P 5000 per annum is not taxed.
______________8. The amount of tax withheld from an employee that will be contributed to the annual tax payment of
the employee is called withholding tax.
______________9. Pag-IBIG or SSS are institutions where you contribute a portion of your salary. It provides benefit to
the wage earner.
______________10. The amount paid by the wage earner to the government is called tax.
______________11. De minimis benefits shall not be taxed.
______________12. Gross earnings are always greater than the net income.
______________13. Net earnings can be equal to total deductions.
______________14. If Deduction=Net Earnings, the Gross Earnings = 2 x Net Earnings.
______________15. Taxes are multiplied in the deduction.
______________16. Other benefits and payment of loans are deducted from the net income.
______________17. Retirement benefits can only be availed if the age of the employee is at least 85 years old.
______________18. If the total deduction is more than the net earnings, then the gross earnings is more than half of the
net earnings.
______________19. If you work at night, which is not part of your regular hour, then you will only merit the overtime
payment without the night differential.
______________20. Medical cash allowance to dependents of employees, not exceeding 1000 per employee per
semester of 250 per month, is not taxed.

Test III. Write a paragraph on what have you learned in this subject. ( 5 sentences will do) – 5 points

Success is not final. Failure is not fatal. It is the courage to continue that counts.
GOD BLESS EVERYONE! ---- rwd
 Answer Key
Business Math

TEST I TEST II.

1. A 1. FALSE
2. B 2. FALSE
3. B 3. TRUE
4. C [Link]
5. D [Link]
6. C [Link]
7. B [Link]
8. B [Link]
9. B [Link]
10.B [Link]
11. C [Link]
12. A [Link]
13. B [Link]
14. A [Link]
15. D [Link]
16. B [Link]
17. A [Link]
18. A [Link]
19. C [Link]
20. D [Link]
21. D
22. A
23. B
24. C
25. A