Revision 1

4601AFYPC Business Mathematics and Statistics
Revision Section A:
All questions are worth 1 mark unless otherwise stated.
1) Glen Browns’ mobile phone costs are estimated as £25,000 per annum for 2018, this
follows an increase of 2% in 2017 and an increase of 4% in 2016. Glen Browns’ annual
mobile phone costs, prior to the increases, (rounded to the nearest £100) was:
A £26,300 B £23,600 C £23,567.12 D £23,567.11

(2 marks)
2) If costs are estimated as £8,500 accurate to the nearest ±2%, and sales revenues are
estimated to be £7,450 accurate to the nearest ±3%. The estimated maximum LOSS for the
business, (rounded to the nearest £100) is:
A) £1,400 B) £659.83 C £1,050 D £1,600
3) A business models its sales revenues (R) using the equation:
R = 3M3 +4N2 – 3P
If M = 5, N=3 and P = 6, the value of R would be:
A) -15 B) 939 C) 128 D) 393
4) A business manufactures two types of Jewellery, Rings and Necklaces. The per unit profit
contributions for Rings and Necklaces are, respectively, £45 and £100.
Using R to represent the number of Rings manufactured and N to represent the number of
Necklaced manufactured. The formula that represents the total profit contribution (π) is:
A) π = 45N+ 100R B) π = 45R-100N

C) π = 45R+100N D) π = 45R-100N
5) If 2L – M= 5, and 4L + 3M =20 the value of L and M in the simultaneous equations is:
A) L= 3.5, M= -2 B) L= 3.5, M= -2.5

C) L=3.5, M = 2 D) L= -3.5, M= -2
6) The sum of a geometrical progression is given by the formula

𝑎(1 − 𝑟 𝑛 )
𝑆𝑛 =
1−𝑟
A business cost of sales are currently increasing by 1.5% per month. If its cost of sales in
month 1 were £10,000 its total cost of sales, month 1 to month 12 inclusive would be:
A) £130,412.11 B) £120,000 C) £290,016.67 D) £120,994.67

(2 marks)
Sep – Dec 2022

7) A business supplies a maximum of 1,550 units of its product K, per month. Also it
generates total revenues (R) of greater than £17,000 per month. And it uses less than 400
units of raw material T: Which ONE of the following statements is true:
A) K≤1,550, R>£17,000, T>400

B) K≥1,550 R≥£ 17,000, T>400
C) K≤ 1,550, R< £17,000, T<400
D) K≤1,550, R> £17,000, T<400
Questions 8 and 9 uses the following table:
Griffswan uses three components (Component G, Component H and Component I) when

undertaking the manufacturing of food products. The per unit prices and the quantities of
each component, for the past two months, are indicated within the following table:
Month October November

Component Price (£) P0 Quantity Q0 Price (£) P1 Quantity Q1
G 7 4 7 3
H 9 5 10 5
I 17 2 15 3
8) Using October as the base period, the expenditure index number for November is:
A) 92.24% B) 108.4% C) 107.46% D) 93%

(2 Marks)
9) Using October as the base period, the Laspeyre price index number for November is:
A) 100.9% B) 99.07% C) 120% D) 109%

(2 Marks)
Sep – Dec 2022

10) Jumbo bread manufacturers plans’ to acquire a new bread making machine in five years
time. The purchase price (SSF) is anticipated to be £75,000. Find the minimum identical
end of year sinking fund provisions (A) that will be required to be deposited within a
savings account yielding 2% interest (i) per annum, compounded annually, that will enable
the acquisition of the new bread making machine in 5 years time.
A) 14,940.12 B) 15,000.00 C) £14,411.88 D) 75,000.00

(2 marks)
11) A savings account yields 1.75% fixed interest per annum, compounded annually. The total
amount of interest received during the 5.5 years following the initial deposit (P) of
£25,000 within the savings account would be:
A) £27,502.95 B) 35,694.35 C) £ 10,694.35 D) £2,502.95

(2 marks)
12) A savings account contains an initial amount (P) of £30,000, the nominal rate of interest (i)
is 2.4%, compounded annually. How many years (n) will it take to produce a total level of
savings (S) of £36,000?
A) 76.06 years B) 6.79 years C) 5 years D) 7.69 years

(2 marks)
13) The following table shows the drinks preference of a sample of people.
DRINKS PREFERENCE
AGE-GROUP Tea Coffee Other
Under 13 years 5 10 30
13 to under 25 years 15 20 25
25 years and older 35 40 10
If somebody is selected at random, what is the Probability that they are in the age- group
under 13 to under 25 years OR have Other as their drinks preference?
A) 125/190 B) 125/380 C)100/190 D) 100/380
Sep – Dec 2022

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4601AFYPC Business Mathematics and Statistics

A £26,300 B £23,600 C £23,567.12 D £23,567.11

A) £1,400 B) £659.83 C £1,050 D £1,600

3) A business models its sales revenues (R) using the equation:

If M = 5, N=3 and P = 6, the value of R would be:

A) -15 B) 939 C) 128 D) 393

A) π = 45N+ 100R B) π = 45R-100N

5) If 2L – M= 5, and 4L + 3M =20 the value of L and M in the simultaneous equations is:

A) L= 3.5, M= -2 B) L= 3.5, M= -2.5

6) The sum of a geometrical progression is given by the formula

A) £130,412.11 B) £120,000 C) £290,016.67 D) £120,994.67

Sep – Dec 2022

A) K≤1,550, R>£17,000, T>400

Questions 8 and 9 uses the following table:

Griffswan uses three components (Component G, Component H and Component I) when

Month October November

A) 92.24% B) 108.4% C) 107.46% D) 93%

A) 100.9% B) 99.07% C) 120% D) 109%

Sep – Dec 2022

A) 14,940.12 B) 15,000.00 C) £14,411.88 D) 75,000.00

A) £27,502.95 B) 35,694.35 C) £ 10,694.35 D) £2,502.95

A) 76.06 years B) 6.79 years C) 5 years D) 7.69 years

A) 125/190 B) 125/380 C)100/190 D) 100/380

Sep – Dec 2022

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