Question 1

A 7.5% discount on a microwave at Lowes amounted to $75. Calculate the net price.

Accepted Answer

0.075L = 75
L = $100

Question 2

RV World sells a make of motor home for $66 725. This regular selling price covers overhead of 12% of cost and a normal profit of 30% of cost. The cruisers were marked with a new regular selling price so that the company can offer a 25% discount while still maintaining its regular gross profit. At the end of the summer season, the motor home was marked down. The company made 20% of its usual profit and reduced the usual commission paid to the sales personnel by 27%. The normal commission accounts for 45% of the normal overhead. What was the rate of markdown?

Accepted Answer

S = C + E+ P
S = C + 0.12C + 0.3C
66725

Question 3

A discount store lists an article for $875.00 less 25% and 20.5%. a competitor carries the same article for $847.90 less 21.5%. What further discount (correct to the nearest   of 1%)must the competitor allow so that its net price will be the same as that of the discount store?

Accepted Answer

Net price of discount store = 875(1-0.25

Question 4

The Great Outdoors buys camping tents for $160.00 less 35% for buying them out of season from the manufacturer. The store's markup is 45% of the sale price. To attract customers, the store advertises all camping gear to be sold at a discount of 20% of the regular selling price. What is the regular selling price of the camping tents?

Accepted Answer

Cost = 160.00(1 - 0.35)
= $104.00
Sale p

Question 5

Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for $205.00.

Accepted Answer

Amount of discount =

Question 6

Kahn Motors purchased 2008 an off-lease Nissan Altima from the Nissan dealer for $9850 in 2012. Kahn Motors marked up the price by 20% of the regular selling price. After failing to sell it for 3 months, Kahn Motors decided to sell the car at a markdown of 15%. What is the final sale price of the car?

Accepted Answer

A) $12 312.50 
B) $11 820 
C) $10 047 
D) $10 465.63 
E) $10 368.42 
A) $12 312.50 
B) $11 820 
C) $10 047 
D) $10 465.63 
E) $10 368.42

Question 7

A store advertises a discount of $10.00 on a shirt. If the discount is 30%, for how much was the shirt sold?

Accepted Answer

30% of list = $10
0.

Question 8

Find the cost of an item sold for $4115 to realize a markup of 36% based on cost.

Accepted Answer

C + M = S

Question 9

Kalotyre sells Bridgestone tires at $141.67 each. They purchase the tires from the factory for $103.11 each. Overhead expenses are 20% of the selling price. Determine the rate of markup on the selling price and the cost price?

Accepted Answer

Cost = $103.11
Markup = $141.6

Question 10

Fred's Electric Supplies sells an electric women's shaver for $112.83. The markup is 39% of cost. How much does the store pay for this electric razor?

Accepted Answer

A) $184.97 
B) $58.46 
C) $88.37 
D) $152.40 
E) $81.17 
A) $184.97 
B) $58.46 
C) $88.37 
D) $152.40 
E) $81.17

Question 11

Overstock.com advertised a discount of $1250 on one of the 3D printers. If the discount is 30.7%, how much was the printer sold for? Round the answer to the nearest dollar value.

Accepted Answer

30.7% of list = $1250
.307L =

Question 12

An invoice for $1121.45 with terms 2/10, n/30 is dated March 7. The contractor received it on March 14. What payment will settle the invoice if the contractor pays it March 20?

Accepted Answer

A) $1121.45 
B) $1009.31 
C) $22.43 
D) $1099.02 
E) $1119.45 
A) $1121.45 
B) $1009.31 
C) $22.43 
D) $1099.02 
E) $1119.45

Question 13

An invoice dated on September 30 was received on October 2. It was for 4 pairs of in-line skates at $125.00 each and two pairs of gel roller blades at $110.50 each. The terms of the invoice were 5/10, 2/30, n/60. What is the invoice payment amount on October 27?

Accepted Answer

A) $707.58 
B) $708.58 
C) $705.58 
D) $706.85 
E) $706.58 
A) $707.58 
B) $708.58 
C) $705.58 
D) $706.85 
E) $706.58

Question 14

Find the cost of an item that was sold for $4230.00 in order to realize a margin of 113% based on cost.

Accepted Answer

C + 1.13C

Question 15

The Exotic Import Company received an invoice dated January 5 for a shipment of goods received January 11. The invoice was for $5525.00 less 40%, 8% with terms 3/20 R.O.G. How much must Exotic Import pay on January 20th to reduce its debt
a)by $3000.00?
b)to $3000.00?

Accepted Answer

Net invoice = (.60)(.92)(5525.

Question 16

An invoice for $5999.00, dated June 27, terms 2/10 E.O.M., was received June 30. What payment must be made on July 10 to reduce the debt to $2000.00?

Accepted Answer

Reduction needed = 5

Question 17

A retailer paid $59.23 for a set of utensils. Overhead is 14% of the regular selling price and profit is 11% of the regular selling price. During a clearance sale, the set was sold at a markdown of 17%. What was the operating profit or loss on the sale?

Accepted Answer

Regular selling price = C + E + P
S = 59

Question 18

National sports sets the selling price of the ice-hockey kit to include expected overhead expenses of 30% of the selling price and a desired profit of 50% of the selling price. Determine the selling price of the ice-hockey kit if it costs the store $79.81?

Accepted Answer

Let selling price be

Question 19

The net price of an article is $125.46. What is the list price if a discount of 38% was allowed?

Accepted Answer

A) $200.90 
B) $204.13 
C) $202.35 
D) $90.91 
E) $738.00 
A) $200.90 
B) $204.13 
C) $202.35 
D) $90.91 
E) $738.00

Question 20

What is the cost of the perfume set that is sold for $165.00 with a margin of 215% based on cost.

Accepted Answer

C + 2.15C

A 7.5% discount on a microwave at Lowes amounted to $75. Calculate the net price.

A discount store lists an article for $875.00 less 25% and 20.5%. a competitor carries the same article for $847.90 less 21.5%. What further discount (correct to the nearest of 1%)must the competitor allow so that its net price will be the same as that of the discount store?

Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for $205.00.

A store advertises a discount of $10.00 on a shirt. If the discount is 30%, for how much was the shirt sold?

Find the cost of an item sold for $4115 to realize a markup of 36% based on cost.

Kalotyre sells Bridgestone tires at $141.67 each. They purchase the tires from the factory for $103.11 each. Overhead expenses are 20% of the selling price. Determine the rate of markup on the selling price and the cost price?

Fred's Electric Supplies sells an electric women's shaver for $112.83. The markup is 39% of cost. How much does the store pay for this electric razor?

Overstock.com advertised a discount of $1250 on one of the 3D printers. If the discount is 30.7%, how much was the printer sold for? Round the answer to the nearest dollar value.

An invoice for $1121.45 with terms 2/10, n/30 is dated March 7. The contractor received it on March 14. What payment will settle the invoice if the contractor pays it March 20?

An invoice dated on September 30 was received on October 2. It was for 4 pairs of in-line skates at $125.00 each and two pairs of gel roller blades at $110.50 each. The terms of the invoice were 5/10, 2/30, n/60. What is the invoice payment amount on October 27?

Find the cost of an item that was sold for $4230.00 in order to realize a margin of 113% based on cost.

The Exotic Import Company received an invoice dated January 5 for a shipment of goods received January 11. The invoice was for $5525.00 less 40%, 8% with terms 3/20 R.O.G. How much must Exotic Import pay on January 20th to reduce its debt a)by $3000.00? b)to $3000.00?

An invoice for $5999.00, dated June 27, terms 2/10 E.O.M., was received June 30. What payment must be made on July 10 to reduce the debt to $2000.00?

A retailer paid $59.23 for a set of utensils. Overhead is 14% of the regular selling price and profit is 11% of the regular selling price. During a clearance sale, the set was sold at a markdown of 17%. What was the operating profit or loss on the sale?

National sports sets the selling price of the ice-hockey kit to include expected overhead expenses of 30% of the selling price and a desired profit of 50% of the selling price. Determine the selling price of the ice-hockey kit if it costs the store $79.81?

The net price of an article is $125.46. What is the list price if a discount of 38% was allowed?

What is the cost of the perfume set that is sold for $165.00 with a margin of 215% based on cost.

Review of Arithmetic

Review of Basic Algebra

Ratio, Proportion, and Percent

Linear Systems

Cost-Volume-Profit Analysis and Break-Even

Simple Interest

Simple Interest Applications

Compound Interest - Future Value and Present Value

Compound Interest - Further Topics

Ordinary Simple Annuities

Ordinary General Annuities

Annuities Due, Deferred Annuities, and Perpetuities

Amortization of Loans, Residential Mortgages, and Sinking Funds

Bond Valuation

Investment Decision Applications

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Exam 6: Trade Discounts, Cash Discounts, Markup, and Markdown

A 7.5% discount on a microwave at Lowes amounted to $75. Calculate the net price.

A discount store lists an article for $875.00 less 25% and 20.5%. a competitor carries the same article for $847.90 less 21.5%. What further discount (correct to the nearest of 1%)must the competitor allow so that its net price will be the same as that of the discount store?

Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for $205.00.

A store advertises a discount of $10.00 on a shirt. If the discount is 30%, for how much was the shirt sold?

Find the cost of an item sold for $4115 to realize a markup of 36% based on cost.

Kalotyre sells Bridgestone tires at $141.67 each. They purchase the tires from the factory for $103.11 each. Overhead expenses are 20% of the selling price. Determine the rate of markup on the selling price and the cost price?

Fred's Electric Supplies sells an electric women's shaver for $112.83. The markup is 39% of cost. How much does the store pay for this electric razor?

Overstock.com advertised a discount of $1250 on one of the 3D printers. If the discount is 30.7%, how much was the printer sold for? Round the answer to the nearest dollar value.

An invoice for $1121.45 with terms 2/10, n/30 is dated March 7. The contractor received it on March 14. What payment will settle the invoice if the contractor pays it March 20?

An invoice dated on September 30 was received on October 2. It was for 4 pairs of in-line skates at $125.00 each and two pairs of gel roller blades at $110.50 each. The terms of the invoice were 5/10, 2/30, n/60. What is the invoice payment amount on October 27?

Find the cost of an item that was sold for $4230.00 in order to realize a margin of 113% based on cost.

The Exotic Import Company received an invoice dated January 5 for a shipment of goods received January 11. The invoice was for $5525.00 less 40%, 8% with terms 3/20 R.O.G. How much must Exotic Import pay on January 20th to reduce its debt a)by $3000.00? b)to $3000.00?

An invoice for $5999.00, dated June 27, terms 2/10 E.O.M., was received June 30. What payment must be made on July 10 to reduce the debt to $2000.00?

A retailer paid $59.23 for a set of utensils. Overhead is 14% of the regular selling price and profit is 11% of the regular selling price. During a clearance sale, the set was sold at a markdown of 17%. What was the operating profit or loss on the sale?

National sports sets the selling price of the ice-hockey kit to include expected overhead expenses of 30% of the selling price and a desired profit of 50% of the selling price. Determine the selling price of the ice-hockey kit if it costs the store $79.81?

The net price of an article is $125.46. What is the list price if a discount of 38% was allowed?

What is the cost of the perfume set that is sold for $165.00 with a margin of 215% based on cost.

Review of Arithmetic

Review of Basic Algebra

Ratio, Proportion, and Percent

Linear Systems

Cost-Volume-Profit Analysis and Break-Even

Simple Interest

Simple Interest Applications

Compound Interest - Future Value and Present Value

Compound Interest - Further Topics

Ordinary Simple Annuities

Ordinary General Annuities

Annuities Due, Deferred Annuities, and Perpetuities

Amortization of Loans, Residential Mortgages, and Sinking Funds

Bond Valuation

Investment Decision Applications

Filters