Commercial Studies: PAPER 2 Arithmetic

This question paper consists of 5 printed pages and 3 blank pages.
SP (SM) S04473/2
CIE 2002 [Turn over
CAMBRIDGE INTERNATIONAL EXAMINATIONS
Joint Examination for the School Certificate
and General Certificate of Education Ordinary Level
COMMERCIAL STUDIES 7101/2
PAPER 2 Arithmetic
OCTOBER/NOVEMBER SESSION 2002
2 hours
Additional materials:
Answer paper
Graph paper (2 sheets)
Mathematical tables
TIME 2 hours
INSTRUCTIONS TO CANDIDATES
Write your name, Centre number and candidate number in the spaces provided on the answer paper/
answer booklet.
Answer all questions in Section A and any two questions from Section B.
Write your answers on the separate answer paper provided.
If you use more than one sheet of paper, fasten the sheets together.
All working must be clearly shown. It should be done on the same sheet as the rest of the answer.
INFORMATION FOR CANDIDATES
The number of marks is given in brackets [ ] at the end of each question or part question.
The businesses mentioned in the questions are entirely fictitious.
You may use a calculator in this examination.
N.B. 1 = 100p
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Section A (76 marks)
Answer all questions in this section.
1 Calculate
(a) 4.8% of 682 correct to the nearest penny, [3]
(b) the number of 750 millilitre bottles of water that can be filled from a tank holding 150 litres of
water, [3]
(c) 7 hours 30 minutes as a fraction of 24 hours. Give your answer in lowest terms. [3]
2 Calculate
(a) of 2 , [3]
(b) the amount of simple interest earned by investing $14 000 for 6 months at 5 % per annum,
[3]
(c) 680 as a percentage of 16 000. [3]
3 (a) A supermarket opens each week from 0830 to 2200 hours from Monday to Saturday inclusive
and from 0915 to 1600 hours on Sunday.
For how many hours each week is the supermarket open? [5]
(b) The bar chart shows the numbers of houses built by a construction company in the years
1995 to 2000 inclusive.
Calculate the mean number of houses built per year during that period. [5]
300
200
100
0
1995 1996 1997 1998 1999 2000
Year
N
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m
b
e
r

o
f

h
o
u
s
e
s
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4 (a) In a sale, a retailer reduces the price of a jacket from $125 to $85. If all the retailers prices
are reduced in the same proportion, calculate
(i) the sale price of a pair of trousers normally sold for $64, [3]
(ii) the normal price of a pair of shoes offered in the sale for $34. [3]
(b) By selling a stereo system for $312, a retailer makes a profit on cost price of 30%.
Calculate
(i) the cost price, [3]
(ii) the profit as a percentage of selling price. [3]
5 (a) A company trades in Zimbabwe, Swaziland and Lesotho. The ratio of the value of sales, in
US dollars, in each area is 5 : 6 : 3.
Calculate
(i) the value of sales in Lesotho when the value of sales in Zimbabwe was $1 126 000, [3]
(ii) the total value of sales when the value of sales in Swaziland was $2 004 000. [3]
(b) The company employs 252 agents.
Three times as many of the agents are employed in Zimbabwe as in Lesotho. The number
employed in Swaziland is twice the total number employed in Zimbabwe and Lesotho.
Calculate the number of agents employed in Lesotho. [6]
6 (a) An insurance company charges annual premiums for property insurance as follows.
Buildings 27.50 per 10 000 insured
Contents 3.90 per 1000 insured
Calculate the total premium payable to insure buildings valued at 180000 and contents valued
at 36 400. [6]
(b) A retailer ordered 50 packs of pencils at 4.20 per pack. The order was subject to a trade
discount of 15% and a cash discount of 1% for payment within seven days. Calculate how
much the retailer paid for the order if payment was made within seven days. [6]
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7 (a) A British businessman visited Singapore. He changed 1200 to Singapore dollars at the rate
of 2.69 Singapore dollars to the and was charged commission of 1 %.
(i) Calculate the amount in Singapore dollars received by the businessman. [4]
At the end of his visit, the businessman was left with 650 Singapore dollars which he changed
to sterling at the rate of 2.82 Singapore dollars to the , with no commission charged.
(ii) Calculate the amount, in sterling, received by the businessman. [2]
(b) A retail company has an annual turnover of 1212000 on purchases of 402110. The company
incurs overhead expenses as follows.
Rent 46 000
Salaries 310 000
Advertising 226 000
General expenses 36 000
Calculate
(i) the companys gross profit, [2]
(ii) the net profit as a percentage of turnover. [4]
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Section B (24 marks)
Answer any two questions in this section.
8 An item of equipment bought new by a company for $15 500 depreciates each year as shown in
the table.
(a) Calculate the annual percentage rate of depreciation, correct to the nearest whole percentage
(i) during the first year, [3]
(ii) during the fourth year. [3]
(b) (i) Plot on graph paper a suitable graph to show the information in the table. [4]
(ii) Use your graph to estimate the value of the equipment after 2 years. [2]
9 (a) An investor bought 2000 shares in a chemical company when the share price was 6.24.
The investor was charged 1 % commission by the stockbroker.
Calculate the total cost to the investor of buying the shares. [6]
(b) The company declared a dividend of 8.6p per share.
Calculate
(i) the dividend received by the investor, [2]
(ii) the dividend as a percentage of share price, [2]
(iii) the percentage rate of return on the investors total outlay on the shares. [2]
10 (a) A bank customer deposited $15 000 for 4 years at a fixed rate of interest of 5% per annum
compound.
Calculate the total amount of the investment at the end of the 4 years. [6]
(b) Based on a base year of 1990 = 100, the Index of Retail Prices was 165 in the year 2000 and
176 in the year 2001.
A sales representative was paid an annual salary of $27 000 in 2000.
Calculate the percentage increase in the representatives salary required for the 2001 salary
to maintain its 2000 buying power. [6]
11 (a) A market trader bought 4000 plates for 3000. Find the price at which she should mark each
plate if she wishes to make a profit of 20% on the cost price after allowing customers a 10%
discount on the marked price. [6]
(b) The trader actually sold a number of the plates for 1 each and the remainder for 70p each
and made a total profit of 370.
Calculate the number of plates she sold for 1 each. [6]
Value when new
$15 500
Value after
1 year
10 600
2 years
7980
3 years
6400
4 years
5300
5 years
4600
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This question paper consists of 5 printed pages and 3 blank pages.

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