A Contractor Mixes Concrete from Bags of Pre-Mix for Small

question 139

Multiple Choice

A contractor mixes concrete from bags of pre-mix for small jobs. How many bags with 6% cement should he mix with 3 bags of 12% cement to produce a mix containing 7% cement?

• A) 23 bags
• B) 17 bags
• C) 18 bags
• D) 15 bags

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Definitions:

Actuarial Calculations

The mathematical analysis performed by actuaries to calculate risks, premiums, life expectancies, and pension contributions, based on statistical data.

Assumed Investment Rate

The hypothesized annual rate of return expected from an investment used in financial planning and projections.

Annuity Cost

The initial sum paid or the series of periodic payments required to obtain an annuity.

Return On Investment

A measure used to evaluate the efficiency of an investment, calculated by dividing the benefit (return) of an investment by its cost.