Business Math Fundamentals
A Grade 11 Business Math worksheet covering topics like profit, loss, interest, and basic financial calculations.
Includes
Standards
Topics
Business Math Fundamentals
Name:
Date:
Score:
Read each question carefully and answer to the best of your ability. Show all your work for calculations.
1. What is the formula for calculating simple interest?
P = I * R * T
I = P * R * T
T = P * I * R
R = P * I * T
2. If a business's revenue is $15,000 and its expenses are $12,000, what is the profit?
$27,000
$3,000
$0
$12,000
3. The money an individual or business earns is called .
4. When expenses are greater than revenue, a business experiences a .
5. A company buys raw materials for $8,000 and spends $3,000 on labor to produce goods. If they sell these goods for $15,000, calculate the gross profit.
6. Compound interest earns interest on both the principal and accumulated interest.
True
False
7. Depreciation is the increase in value of an asset over time.
True
False
8. Sarah invests $5,000 at an annual simple interest rate of 4% for 3 years. Calculate the total interest earned and the total amount after 3 years.
9. Analyze the following bar graph showing monthly sales for a small business. What was the total sales for Quarter 1 (January, February, March)?