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

A 14% discount on a dryer that Sean purchased, amounted to $70.00. Calculate the net price.

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?

A clothing retailer buys winter coats from one of its suppliers for $67.50. The regular selling price of the coats includes operational expenses of 46% of the selling price and a profit of 30% of the selling price. Due to an unexpected warm winters, the sales have been slow. The retailer decides to mark down this line of coats by 20% to increase sales. What is the operating profit or loss on the coats sold during the promotional sale?

Canadian Tire lists a lawn mower at $449 less 20%. What is the net price of the lawn mower?

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?

Find the cost of a car sold for $25 000 to realize a markup of 8% based on cost.

Lumber King sells 2x4 studs for $3.15 each less 15%. Its competitors across town offer the same stud for $3.55 less 22%, 18%. What additional rate of discount must Lumber King offer to meet the competitor's price?

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?

A convenience store received an invoice of $10 680 on May 3 with the terms 5/10, n/30 EOM. What amount will reduce the amount due on the invoice by $7 500.00 if the payment was made on June 3?

Budget Electronics bought slightly used computers for $275.00 less 29%. The store's overhead is 23% of the cost and the desired profit is 37.5% of cost.