M WOPR 1: Ratios and Proportions (OPMT 1110: Business Mathematics) 1. Canada Revenue Agency allows you to claim certain "office-in-home" expenses If you have a home-based business. You are allowed to claim a portion of your utilities, insurance, and mortgage interest. Kate uses 3 of the 11 rooms in her house for her real estate business. The combined floor area of the three rooms is 800 square feet. The floor area of the remainder of the house is 1,600 square feet. Kate's total home-related expenses were $37,950. How much could Kate claim as "office-in-home" expenses if the proration is based on: (a) The number of rooms used for the business? (b) The floor area used for the business? 2. You bought a pair of designer jeans that were on sale for 30% off the regular price of $150. How much did you pay for the jeans including the 12% sales tax? 3. Last month you bought a pair of dress shoes at Winners. You recall that you got a really good deal on them (they were on sale for 40% off the regular price) but can't remember what the regular selling price was. You check your credit card statement and the amount charged was $84 after the 12% sales tax. What was the regular selling price of the shoes? 4. Kate just got a 3.2% raise and now earns $36.120. How much did she earn before the raise? 5. Burnaby Auto Parts sells 4 regular batteries for every 3 heavy-duty batteries they sell. If they sold 60 regular batteries last month, how many batteries, in total, did they sell last month? (a) Determine the number of heavy-duty batteries sold first and then get the total. (b) Calculate the total directly (without first finding the number of heavy duty batteries sold) 6. A firm in Hong Kong and one in Thailand agree to jointly develop a controller chip to be sold to North American auto makers. They agree to split the development costs in the ratio of 5:8 (Hong Kong firm to Thailand firm), resulting in a cost of $4,500,000 for the Hong Kong firm. In total, how much are the development costs? 7. Two contractors agreed to share revenue from a job in the ratio 2:3. Contractor A, who received the smaller amount, made a profit of $1,600 on the job. If contractor A's profit compared to his revenue is in the ratio 4:7, determine (a) contractor A's revenue (b) the total revenue of the job. 5. Kevin, Lyle and Marnie are the three partners in KLM Consulting Services. Their agreeme provides that 1/4 of the profit be distributed in proportion to each partner's investment the partnership, and the remaining 3/4 be distributed in proportion to the total hours ea partner works in the business. If their recent profit is $600,000 and their investments ar $100,000, $80,000 and $60,000, respectively and their hours of work were 2,000, 2,500 and 1,500 respectively, how much is Kevin's share of the partnership's profit
