Exam 5: Trade Discount, Cash Discount, Markup, and Markdown

A retailer buys an appliance for resale at $2123.00 less 27%, 20%. The store marks the merchandise to cover expenses of 23% of the regular selling price and a net profit of 12.9% of the regular selling price. During a clearance sale, the appliance is sold at a markdown of 22%. What is the operating profit or loss?

An invoice for $6 200.00, dated May 28, 3/10, 1/20, n/60, was received on May 30. What payment must be made on June 5 to reduce the debt to $4760.00?

A gross profit of $96.00 is made on a sale. If the gross profit was 52% based on selling price, what was the cost?

A fridge was sold during a clearance sale for $657.00. If the fridge was sold at a discount of 24%, what was the list price?

Determine the equivalent single rate of discount for each of the following series of discounts. a) 18 %, 10.0% b) 50%, 33 %, 5.0%

An invoice for $4755.00, dated March 27, terms 3/10 E.O.M., was received March 29. What payment must be made on April 10 to reduce the debt to $1900.00?

The following invoice was received for 30 shrubs at $3.50 each and 10 raspberry plants at $1.50 each. Terms 4/10, 1/30, n/60. If the invoice was dated May 20 and it was paid on May 30 what was the amount of the payment?

An invoice dated on March 31 was received on April 2. It was for 30 training manuals at $25.00 each and four posters at $40.00 each. The terms of the invoice were 5/10, 2/30, n/60. What is the invoice payment amount on April 3?

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?

A 12 % discount on a pair of washer and dryer that Gayle purchased, amounted to $156.00. Calculate the net price.

The Alpaca Wool Shoppe bought 150 scarves for $4 150.00; 50 scarves were sold at a markup of 175% of cost and 30 scarves at a markup of 125% of cost; 40 of the scarves were sold during a clearance sale for $35.50 each and the remaining Scarves were disposed of at 15% below cost. Assume all scarves had the same cost. a) What was the markup realized on the purchase? b) What was the percent markup realized based on cost? c) What was the gross profit realized based on selling price?

The Llama Wool Shoppe bought 225 wool overcoats for $16875; 75 overcoats were sold at a markup of 160% of cost and 100 overcoats at a markup of 115% of cost; 20 of the overcoats were sold during a clearance sale for $130.00 each and the remaining overcoats were disposed of at 11% below cost. Assume all overcoats had the same cost. What was the markup realized on the purchase?

A retailer buys a computer for resale at $500.00 less 35%, 10%. The store marks the merchandise to cover expenses of 15% of the regular selling price and a net profit of 24% of the regular selling price. During a clearance sale, the appliance is sold at a markdown of 25%. What is the operating profit or loss?

The Amusement Park bought 1200 t-shirts auctioned off en bloc for $6600.00. This means that each t-shirt has the same cost. On inspection, the t-shirts were classified as normal quality, seconds, and substandard. The 640 normal quality t-shirts were sold at a markup of 95% of cost, the 330 t-shirts classified as seconds were sold at a markup of 35% of cost, and the t-shirts classified as substandard were sold at 47% of their cost. What was the unit price at which each of the three classifications was sold?

Determine the equivalent single rate of discount for each of the following series of discounts. a) 18 %, 4.5% b) 36%, 7 %, 1.5%

Determine the equivalent single rate of discount for the following series of discounts: 15%, 12.5%, 8%.

A 47% discount allowed on an article amounts to $3.57. What is the net price?

Duckworth's Bird Supplies purchased sets of cages for $160.00 less 9%, 14%. Expenses are 17% of the regular selling price and the required profit is 55% of the regular selling price. The store decided to change the regular selling price so that it could offer a 25% discount without affecting its margin. During the Christmas season, the unsold sets were advertised at a discount of 25%. What operating profit or loss was realized on the sets sold during the Christmas season?

A value oriented store buys video recorders for $230.75 less 42%, 11.5%. Expenses are 65% of normal selling price and the required profit is 13% of normal selling price. All merchandise is marked so that the store can advertise a discount of 55%, while still maintaining its regular margin. During the annual clearance sale, the price of the unsold item is marked down 70%. What operating profit or loss is made by the store on items sold during the sale?

Determine the equivalent single rate of discount for the following series of discounts. Discount of 20%, 15% and 5%.