MIchael needs 55 gallons if paint to paint an apartment building. He would like to purchase the paint for the least amount money possible. Which of the following should he buy? (a) two 25-gallon buckets at $550 each (b) eleven 5-gallon buckets at $108 each (c) six at 10-gallon buckets at $215 each (d) fifty-five 1-gallon bucket at $23 each {Ans: B. Choice (a) doesn't have enough paint (2 ×25 gal = 50 gal) so it's wrong. Choice (b): 11 × $108 = $1,188 Choice (c): 6 × $215 = $1,290 Choice (d): 55 × $23 = $1265}A waitress earns an average of 12% of the cost of the food she serves. If she serves $375 worth of food in one evening, how much money in tips will she earn on average? (a) $37 (b) $45 (c) $42 (d) $420 {Ans: B. Multiply the amount spent on drinks, $375, by 12% (or 0.12) to determine the amount of tips: $375 × 0.12 = $45}Jack loaned Bob $1,500 at an annual interest rate of 7%. After one year, how much will Bob owe Jack? (a) $105 (b) $1,500 (c) $1,605 (d) $1,507 {Ans: C. First find interest then