# Quiz 4: Mathematics of Merchandising

Business

Q 1Q 1

A 12½% discount allowed on an article amounted to $25.50. What was the list price?
A) $204.00
B) $229.50
C) $3.19
D) $29.14
E) $178.50

Free

Multiple Choice

A

Q 2Q 2

The net proceeds to the vendor of a house after payment of 4.8% real estate commission was $182,784.00. At what price did the house sell?
A) $192,000.00
B) $877,363.20
C) $191,557.63
D) $8773.63
E) $201,216.00

Free

Multiple Choice

A

Q 3Q 3

Mavis Industries sells industrial fans that have a list price of $587.50. The trade discount that they offer to Don Ellis Construction is 37%. What is the net price?
A) $217
B) $370
C) $551
D) $625
E) $806

Free

Multiple Choice

B

Q 4Q 4

The net price of a computer that is subject to a trade discount of 25% is $1,251. What is the list price?
A) $938
B) $1,276
C) $1,564
D) $1,600
E) $1,668

Free

Multiple Choice

Q 5Q 5

Calculate the net price of a snow blower that has a list price of $1,450 and is subject to a trade discount of 27.5%.
A) $1,175
B) $2,000
C) $1,137
D) $1,051
E) $992

Free

Multiple Choice

Q 6Q 6

What is the list price of a sofa that has a net price of $1,119 and a trade discount of 26.7%?
A) $1,356
B) $1,418
C) $1,527
D) $1,744
E) $1,939

Free

Multiple Choice

Q 7Q 7

Ace Fasteners Ltd. offers Bob's Hardware a trade discount of 44% on all products. Calculate the total list price of a shipment for which Bob's is charged $859.
A) $481
B) $665
C) $1,237
D) $1,340
E) $1,534

Free

Multiple Choice

Q 8Q 8

The list price is $593 and the net price is $318. What is the trade discount rate?
A) 53.6%
B) 27.5%
C) 72.5%
D) 46.4%
E) 86.5%

Free

Multiple Choice

Q 9Q 9

The net price on an item is $327. The list price is $855. What is the rate of trade discount?
A) 61.8%
B) 52.8%
C) 44.0%
D) 38.2%
E) 16.1%

Free

Multiple Choice

Q 10Q 10

Martin Auto Parts charges Sam's Service Centre $386 for a rebuilt transmission that has a list price of $925. What is the rate of trade discount?
A) 22.9%
B) 32.2%
C) 40.0%
D) 58.3%
E) 66.7%

Free

Multiple Choice

Q 11Q 11

Calculate the trade discount rate on an item that lists for $1,950 and has a net price of $1,433.
A) 36.1%
B) 73.5%
C) 26.5%
D) 63.9%
E) 51.7%

Free

Multiple Choice

Q 12Q 12

A 24% trade discount is equal to $365. What is the list price?
A) $453
B) $1,156
C) $1,521
D) $993
E) $1,799

Free

Multiple Choice

Q 13Q 13

The difference between the list price and the net price on a motorbike is $772. The rate of trade discount is 27%. What is the list price?
A) $$1,057
B) $2,859
C) $3,187
D) $981
E) $1,833

Free

Multiple Choice

Q 14Q 14

What is the net price of an item if the 17.5% trade discount is equal to $32.44?
A) $381
B) $185
C) $153
D) $217
E) $92

Free

Multiple Choice

Q 15Q 15

After a trade discount of 37% a set of patio furniture is sold at a net price of $577. Calculate the list price.
A) $941
B) $916
C) $790
D) $614
E) $364

Free

Multiple Choice

Q 16Q 16

Calculate the net price of a vacuum cleaner that has a list price of $699 and is subject to a trade discount of 35%
A) $245
B) $454
C) $664
D) $755
E) $944

Free

Multiple Choice

Q 17Q 17

A DVD player has a list price of $249 and is subject to a trade discount of 35%. Calculate the net price.
A) $411
B) $336
C) $214
D) $162
E) $87

Free

Multiple Choice

Q 18Q 18

The 55% trade discount on an item is equal to $509. What is the net price?
A) $355
B) $488
C) $667
D) $789
E) $416

Free

Multiple Choice

Q 19Q 19

How many employees will the employer have after all cuts?
A) 31,548
B) 29,280
C) 31,160
D) 34,960
E) 6,840

Free

Multiple Choice

Q 20Q 20

How many employees will be cut one year from now?
A) 6,840
B) 1,315
C) 2,280
D) 3,040
E) 2,098

Free

Multiple Choice

Q 21Q 21

The current price of Acme stock is $5.80. The stock is down 90% from its price one year ago. What was the stock price one year ago?
A) $11.02
B) $6.44
C) $6.38
D) $65.00
E) $58.00

Free

Multiple Choice

Q 22Q 22

After discounts of 20% and 10%, an item sold for $115.50. What was the amount of the discount?
A) $32.34
B) $385.00
C) $83.16
D) $80.85
E) $44.92

Free

Multiple Choice

Q 23Q 23

A trade discount series of 30%/15%/5% is offered on a product that has a list price of $8,900. What is the net price?
A) $4,450
B) $5,031
C) $6,555
D) $7,221
E) $7,925

Free

Multiple Choice

Q 24Q 24

The list price of a garden tractor is $2,899. The trade discount series is 20%/12%. Calculate the net price of the tractor.
A) $2,041
B) $1,971
C) $1,885
D) $1,842
E) $1,627

Free

Multiple Choice

Q 25Q 25

If the trade discount series is 40%/15%/10% and the net price is $555, what is the list price?
A) $916
B) $1,209
C) $1,421
D) $708
E) $591

Free

Multiple Choice

Q 26Q 26

What single rate of discount would be equivalent to a series of 25%/18%/10%?
A) 55.4%
B) 53.0%
C) 41.7%
D) 34.3%
E) 44.7%

Free

Multiple Choice

Q 27Q 27

What single discount rate is equivalent to multiple discounts of 20%, 5%, 2%?
A) 25.52%
B) 27%
C) 63%
D) 74.48%
E) 23.97%

Free

Multiple Choice

Q 28Q 28

If the trade discount series is 30% / 20% / 4% and the net price is $377, what is the list price?
A) $928
B) $1,335
C) $2,027
D) $701
E) $866

Free

Multiple Choice

Q 29Q 29

What single rate of discount would be equivalent to a series of 15% / 8% / 4%?
A) 48.0%
B) 27.0%
C) 24.9%
D) 9.99%
E) 21.4%

Free

Multiple Choice

Q 30Q 30

When does the discount period end?
A) March 26
B) April 15
C) April 16
D) April 21
E) none of these

Free

Multiple Choice

Q 31Q 31

When does the credit period end?
A) March 26
B) April 15
C) April 16
D) April 21
E) none of these

Free

Multiple Choice

Q 32Q 32

Given the following notation for an invoice: 4/10,n/30 What is the discount?
A) 20%
B) 10%
C) 4%
D) 30%
E) None of these

Free

Multiple Choice

Q 33Q 33

Given the following notation for an invoice: 4/10,n/30 What is the discount period?
A) 4 days
B) 10 days
C) 20 days
D) 30 days
E) None of these.

Free

Multiple Choice

Q 34Q 34

An invoice for $20,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17

^{th}. A payment of $10,000 is made on March 26. How much is credited to the account? A) $10,200 B) $10,150 C) $9,800 D) $9,850 E) $10,000Free

Multiple Choice

Q 35Q 35

An invoice for $25,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. A payment of $15,000 is made on March 26. What is the outstanding balance?
A) $9,550.00
B) $9,700.00
C) $10,000.00
D) $10,300.00
E) $9,693.88

Free

Multiple Choice

Q 36Q 36

An invoice for $50,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. If the company wants to reduce the outstanding balance to $25,000, how much should they pay on March 26?
A) $24,250
B) $25,000
C) $24,500
D) $25,500
E) $25,750

Free

Multiple Choice

Q 37Q 37

An invoice for $6,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3

^{rd}. A payment of $3,000 is made on September 12^{th}. What is the outstanding balance? A) $3,000 B) $2,955 C) $2,940 D) $3,060 E) $3,045Free

Multiple Choice

Q 38Q 38

An invoice for $7,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3. If the company wants to reduce the outstanding balance to $4,000, how much should they pay on September 12?
A) $3,000
B) $2,940
C) $2,955
D) $3,920
E) $3,940

Free

Multiple Choice

Q 39Q 39

An invoice for $620 dated November 5 with payment terms of 3/10, 2/15, n/30, was paid in full on November 15. What was the amount paid?
A) $18.60
B) $613.80
C) $620.00
D) $607.60
E) $601.40

Free

Multiple Choice

Q 40Q 40

An invoice for $45,780 has terms of 3/15, n/90. The date of the invoice is March 10. What payment on March 23 would be enough to settle the debt?
A) $44,407
B) $38,913
C) $41,660
D) $45,780
E) $44,219

Free

Multiple Choice

Q 41Q 41

The payment terms on a $2,433 invoice dated May 6 are 2/10, n/30. What payment on May 15 would pay off the debt?
A) $2,190
B) $2,433
C) $2,384
D) $1,845
E) $2,406

Free

Multiple Choice

Q 42Q 42

An invoice dated January 22 has payment terms of 3/25, n/90. On what date would the cash discount expire?
A) February 1
B) February 16
C) February 28
D) March 3
E) April 22

Free

Multiple Choice

Q 43Q 43

An invoice dated October 16 has payment terms of 2/20, n/45. On what date would the cash discount expire?
A) October 26
B) November 30
C) November 5
D) October 18
E) December 7

Free

Multiple Choice

Q 44Q 44

An invoice for $35,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. What payment April 14 would reduce the outstanding balance to $25,000?
A) $9,700
B) $10,000
C) $9800
D) $10,200
E) $10,300

Free

Multiple Choice

Q 45Q 45

An invoice for $2,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 18. What payment will settle the invoice on October 11?
A) $2,450.00
B) $2,500.00
C) $2,200.00
D) $2,462.50
E) $2,125.00

Free

Multiple Choice

Q 46Q 46

An invoice for $3,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 20. If the company wants to reduce the outstanding balance to $2,000, how much should they pay on October 10?
A) $1,470.00
B) $1,477.50
C) $1,530.00
D) $1,522.50
E) $1,500.00

Free

Multiple Choice

Q 47Q 47

An invoice for $50,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 17. The shipment of goods was received on March 29. What payment would settle the invoice on April 9?
A) $48,500
B) $50,000
C) $49,500
D) $48,000
E) $49,000

Free

Multiple Choice

Q 48Q 48

An invoice for $40,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on March 28. What payment April 8 would reduce the outstanding balance to $20,000?
A) $19,600
B) $20,000
C) $20,400
D) $20,600
E) $19,400

Free

Multiple Choice

Q 49Q 49

An invoice for $30,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. What payment April 14 would reduce the outstanding balance to $15,000?
A) $14,550
B) $14,700
C) $15,000
D) $15,300
E) $15,450

Free

Multiple Choice

Q 50Q 50

An invoice for $4,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 20. What payment would settle the invoice on October 15?
A) $4,500.00
B) $4,432.50
C) $4,410.00
D) $4,590.00
E) $4,567.50

Free

Multiple Choice

Q 51Q 51

An invoice for $8,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3. The company sent a cheque on September 12 for $2,500. How much is credited to their account?
A) $2,462.50
B) $2,500
C) $2,551.02
D) $2,537.50
E) $2,450

Free

Multiple Choice

Q 52Q 52

An invoice for $9,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3. The company sent a cheque on September 12 for $5,000. What is their outstanding balance?
A) $4,000.00
B) $3,897.96
C) $3,900.00
D) $3,925.00
E) $3,923.86

Free

Multiple Choice

Q 53Q 53

An invoice for $75,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. The company sent a cheque on March 26 for $50,000. How much is credited to their account?
A) $49,000.00
B) $48,500.00
C) $50,000.00
D) $51,020.41
E) $51,546.39

Free

Multiple Choice

Q 54Q 54

An invoice for $7,000 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 25. A payment is sent on October 10 for $3,000. What is the outstanding balance?
A) $3,940.00
B) $3,955.00
C) $3,938.78
D) $4,000.00
E) $3,954.31

Free

Multiple Choice

Q 55Q 55

An invoice for $10,000 dated September 10 with terms 3/10, 1½/20, n/30, EOM is received in the mail on September 25. A payment is sent on October 11 for $4,000. What is the outstanding balance?
A) $5,940.00
B) $6,000.00
C) $5,918.37
D) $5,939.08
E) $5,920.00

Free

Multiple Choice

Q 56Q 56

A $7,350 invoice dated August 3 has payment terms of 4/10, 2/30, n/60. If the invoice is paid on August 20 how much must the payment be?
A) $7,497
B) $6,832
C) $6,615
D) $7,056
E) $7,203

Free

Multiple Choice

Q 57Q 57

An invoice for $60,000 dated March 15 with terms 3/10, 2/20, n/30 is received in the mail on March 17. The company sent a cheque on March 26 for $40,000. What is their outstanding balance?
A) $20,000.00
B) $18,762.89
C) $19,200.00
D) $18,800.00
E) $19.183.67

Free

Multiple Choice

Q 58Q 58

An invoice for $2,500 dated September 15 with terms 2/10, 1½/20, n/30, EOM is received in the mail on September 20. A payment of $1500 is made on October 20. How much is credited to the account?
A) $1,522.50
B) $1,530.61
C) $1,560.60
D) $2,537.50
E) $1,522.84

Free

Multiple Choice

Q 59Q 59

An invoice for $25,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. A payment of $14,000 was made on April 14. How much was credited to the account?
A) $14,280.00
B) $14,420.00
C) $14,432.99
D) $14,285.71
E) $14,000.00

Free

Multiple Choice

Q 60Q 60

An invoice for $45,000 dated March 15 with terms 3/10, 2/20, n/30, ROG was received in the mail on March 18. The shipment of goods was received on April 3. A payment of $30,000 was made on April 14. What is the outstanding balance?
A) $14,400.00
B) $14,100.00
C) $15,000.00
D) $14,072.16
E) $14,387.76

Free

Multiple Choice

Q 61Q 61

Parker Transport received a bill for $11,400 dated June 8 with payment terms of 3/15, n/45. What payment on June 22 would reduce the amount owing to $4,000?
A) $7,178
B) $7,058
C) $7,400
D) $3,880
E) $9,690

Free

Multiple Choice

Q 62Q 62

Mack the Mover received a bill for $7,490 dated April 17 with payment terms of 4/20, n/90. What payment on May 4 would reduce the amount owing to $2,500?
A) $4,990
B) $5,019
C) $5,992
D) $4,690
E) $4,790

Free

Multiple Choice

Q 63Q 63

An invoice for $5,000 dated September 1 with terms 2/10, 1½/20, n/30 is received in the mail on September 3

^{rd}. A payment of $2,000 is made on September 12^{th}. How much is credited to the account? A) $2,030 B) $2,000 C) $2,040 D) $1,970 E) $1,930.60Free

Multiple Choice

Q 64Q 64

Sally sent a cheque for $8,000 on June 15 in response to an invoice for $12,000 dated June 8 with terms 5/10, n/30. What balance did Sally still owe?
A) $4,000.00
B) $8,400.00
C) $3,578.95
D) $8,421.05
E) $3,600.00

Free

Multiple Choice

Q 65Q 65

When does the discount period end?
A) March 26
B) April 15
C) April 16
D) April 21
E) none of these

Free

Multiple Choice

Q 66Q 66

When does the credit period end?
A) March 26
B) April 15
C) April 16
D) April 21
E) none of these

Free

Multiple Choice

Q 67Q 67

If a payment of $900 is made on March 20, what will be the new balance?
A) $918.00
B) $900.00
C) $918.37
D) $947.00
E) $946.63

Free

Multiple Choice

Q 68Q 68

M Studios buys cameras at a unit cost of $250. Their operating expense is 40% per unit of cost, and their desired unit operating profit is 30% of cost. What selling price should M Studios advertise for the camera?
A) $425
B) $350
C) $325
D) $320
E) $375

Free

Multiple Choice

Q 69Q 69

M Studios buys cameras at a unit cost of $150. Their operating expense is 20% per unit of cost, and their desired unit operating profit is 30% of cost. What is M Studios' rate of mark-up on cost?
A) 33.3%
B) 20%
C) 50%
D) 30%
E) 25%

Free

Multiple Choice

Q 70Q 70

M Studios buys cameras at a unit cost of $125. Their operating expense is 45% per unit of cost, and their desired unit operating profit is 25% of cost. What is M Studios' rate of mark-up on selling price?
A) 60%
B) 45%
C) 25%
D) 41.2%
E) 40%

Free

Multiple Choice

Q 71Q 71

A dining room set costs $400, less 30% and 10%. The overhead costs are 25% of cost and operating profit is 30% of cost. After three months, the set is reduced to $200. What is the selling price of the set?
A) $252.00
B) $315.00
C) $327.60
D) $390.60
E) $372.00

Free

Multiple Choice

Q 72Q 72

A dining room set costs $400, less 30% and 10%. The overhead costs are 25% of cost and operating profit is 30% of cost. After three months, the set is reduced to $200. What is the break-even price of the set?
A) $300.00
B) $390.60
C) $200.00
D) $325.00
E) $315.00

Free

Multiple Choice

Q 73Q 73

A dining room set costs $400, less 30% and 10%. The overhead costs are 25% of cost and operating profit is 30% of cost. After three months, the set is reduced to $200. What is the rate of markdown of the set?
A) 95.3%
B) 75.6%
C) 36.5%
D) 20.6%
E) 48.8%

Free

Multiple Choice

Q 74Q 74

A product costing $350, less 30%, 20%, and 10%, sells to allow for overhead expenses of 30% of the selling price and profit of 20% of the selling price. During a sale, the product is marked down by 40%. What is the final selling price?
A) $352.80
B) $211.68
C) $117.98
D) $86.43
E) $52.10

Free

Multiple Choice

Q 75Q 75

Acme Shoes marked up a pair of shoes from the $43.00 cost to $75.00. What is the rate of mark-up on cost?
A) 57.33%
B) 42.67%
C) 174.42%
D) 68.50%
E) 74.42%

Free

Multiple Choice

Q 76Q 76

Calculate the retail price of an item for which the retailer paid $120 and applied a mark-up on cost of 30% of cost.
A) $150
B) $156
C) $168
D) $171
E) $189

Free

Multiple Choice

Q 77Q 77

If Clarington Sporting Goods has to pay $88 for a pair of skates and then they apply a mark-up of 40% of cost, what is the selling price?
A) $82
B) $89
C) $123
D) $147
E) $176

Free

Multiple Choice

Q 78Q 78

What is the cost of an item for which the retail selling price is $860 and the margin is 25% of the selling price?
A) $215
B) $688
C) $645
D) $445
E) $1,147

Free

Multiple Choice

Q 79Q 79

If Maury's Work Warehouse sets retail prices so that mark-ups are equal to 20% of cost, what is the cost of a pair of work boots that have a retail price of $129?
A) $108.00
B) $103.20
C) $101.91
D) $92.00
E) $86.50

Free

Multiple Choice

Q 80Q 80

A shirt costing $30 was marked up by 150% and then reduced by 50%. What was the sale price?
A) $22.50
B) $60
C) $45
D) $37.50
E) $52.50

Free

Multiple Choice

Q 81Q 81

A shovel costing $8.50 in August was marked up by 200%. In April of the following year, it was reduced by 80%. What was the sale price?
A) $3.40
B) $5.00
C) $1.70
D) $10.20
E) $5.10

Free

Multiple Choice

Q 82Q 82

M Studios sells a camera listed at $400, less 25%. Todd's Factory sells the same camera for $325. What rate of markdown would Todd's have to offer to match the reduced price at M Studios?
A) 7.7%
B) 8.3%
C) 8%
D) 7.5%
E) 8.5%

Free

Multiple Choice

Q 83Q 83

Rick's sells a motorcycle for $5000, less 10%. Todd's Motors sells the same motorcycle for $4250. What rate of markdown would Rick have to offer to match the price at Todd's?
A) 5.9%
B) 5.6%
C) 15%
D) 10%
E) 7.5%

Free

Multiple Choice

Q 84Q 84

The retailer's cost is $86 and their rate of mark-up on selling price is 26%. Calculate the selling price.
A) $99
B) $108
C) $112
D) $116
E) $129

Free

Multiple Choice

Q 85Q 85

An item regularly priced at $89.00 is marked down to the cost price for a clearance sale. If the item cost the retailer $40.05, what is the rate of markdown?
A) 45%
B) 49%
C) 55%
D) 22%
E) 122%

Free

Multiple Choice

Q 86Q 86

A retailer buys T-shirts for $12.50. They are marked up to cover overhead of 40% of cost and a profit of 10% of cost. What is the rate of markdown if the T-shirts are sold at the break-even price?
A)
B) 50.0%
C)
D) 23.3%
E)

Free

Multiple Choice

Q 87Q 87

M Studios buys cameras at a unit cost of $225. Their operating expense is 30% per unit of the selling price, and their desired unit operating profit is 20% of the selling price. What is M Studios' rate of mark-up on cost?
A) 50%
B) 80%
C) 60%
D) 75%
E) 100%

Free

Multiple Choice

Q 88Q 88

M Studios buys cameras at a unit cost of $140. Their operating expense is 40% per unit of the selling price, and their desired unit operating profit is 25% of the selling price. What is M Studios' rate of mark-up on selling price?
A) 65%
B) 22.75%
C) 75%
D) 25%
E) 60%

Free

Multiple Choice

Q 89Q 89

M Studios buys cameras at a unit cost of $200. Their operating expense is 35% per unit of the selling price, and their desired unit operating profit is 25% of the selling price. What selling price should M Studios advertise for the camera?
A) $320
B) $500
C) $250
D) $270
E) $425

Free

Multiple Choice

Q 90Q 90

The cost of a sweater is $30. If the retailer wants a rate of mark-up on selling price of 50%, what is the selling price?
A) $45
B) $60
C) $75
D) $40
E) $50

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Multiple Choice

Q 91Q 91

The cost of a coat is $80. If the retailer wants a rate of mark-up on selling price of 40%, what is the amount of mark-up on cost?
A) $32
B) $120
C) $53.33
D) $150
E) $50

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Multiple Choice

Q 92Q 92

A dining room set costs $400, less 30% and 10%. The overhead costs are 25% of cost and operating profit is 30% of cost. After three months, the set is reduced to $200. What was the operating profit or loss of the set at the reduced price?
A) loss $52
B) loss $115
C) loss $390.60
D) loss $175
E) loss $63

Free

Multiple Choice

Q 93Q 93

A product costing $350, less 30%, 20%, and 10%, sells to allow for overhead expenses of 30% of the selling price and profit of 20% of the selling price. During a sale, the product is marked down by 40%. What is the regular selling price?
A) $264.60
B) $300.00
C) $315.00
D) $352.80
E) $385.00

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Multiple Choice

Q 94Q 94

A product costing $350, less 30%, 20%, and 10%, sells to allow for overhead expenses of 30% of the selling price. What is the break-even price?
A) $252.00
B) $255.78
C) $266.40
D) $270.90
E) $291.90

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Multiple Choice

Q 95Q 95

A product costing $250, less 10%, 15%, and 5%, sells to allow for overhead expenses of 25% of the cost. What is the break-even price?
A) $181.69
B) $227.11
C) $266.40
D) $270.90
E) $291.90

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Multiple Choice

Q 96Q 96

Roller skates cost a retailer $120.00 less 20%, 10%. The retailer sold them for $150.00. What was the rate of mark-up on cost?
A) 20%
B) 44%
C) 55%
D) 73.6%
E) 42.4%

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Multiple Choice

Q 97Q 97

A pair of shoes listed at $70 less 20% is purchased by a merchant who sells them for $98. What is the merchant's rate of mark-up on selling price?
A) 42.86%
B) 75%
C) 40%
D) 28.57%
E)

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Multiple Choice

Q 98Q 98

A television set which cost a dealer $375 was marked up 140%. This item was then marked down 40% for quick sale. What was the sale price?
A) $900.00
B) $210.00
C) $360.00
D) $525.00
E) $540.00

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Multiple Choice

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Multiple Choice

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Multiple Choice

Free

Multiple Choice

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Multiple Choice

Q 103Q 103

At the sale price, what was the rate of mark-up on cost?
A) 19.6%
B) 40%
C) 125%
D) 35%
E) 25.9%

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Multiple Choice

Q 104Q 104

What was the profit (loss) at the sale price?
A) $136.22
B) ($169.58)
C) ($116.76)
D) $408.66
E) $58.38

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Multiple Choice

Q 105Q 105

Benson's SuperMart sets retail prices so that the mark-up on everything they sell is 35% of the selling price. What price would Benson set on an item which costs him $3.28?
A) $4.43
B) $5.05
C) $7.30
D) $9.37
E) $3.63

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Multiple Choice

Q 106Q 106

An item costing $50 was marked up by 60% of the selling price. During a sale, the item was reduced to $75. What was the rate of markdown during the sale?
A) 6.25%
B) 60%
C) 40%
D) 50%
E) 33.3%

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Multiple Choice

Q 107Q 107

A television set costing $260 was marked up by 35% of the selling price. During a sale, the item was reduced to $300. What was the rate of markdown during the sale?
A) 33.3%
B) 15.4%
C) 13.3%
D) 25%
E) 35%

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Multiple Choice

Q 108Q 108

A retailer sells all goods on a rate of mark-up on cost of 25%. If she later marks down any unsold products to their cost, what is the rate of markdown?
A) 25%
B) 15%
C) 30%
D) 17.5%
E) 20%

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Multiple Choice

Q 109Q 109

A retailer sells all goods on a rate of mark-up on selling price of 25%. If she later marks down any unsold products to their cost, what is the rate of markdown?
A) 25%
B) 33.3%
C) 20%
D) 30%
E) 22.5%

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Multiple Choice

Q 110Q 110

Nagano Corporation purchased machinery for resale. The price was $4,450 less 42%, 16% and 1%. If there is a 66% mark-up on the selling price, determine the selling price.
A) $6,312.82
B) $3,391.25
C) $4,706.00
D) $8,423.93
E) $5,732.66

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Multiple Choice

Q 111Q 111

Marco purchased a high-end stove for $5,267 less 53% and 18%. The overhead rate is 30% of the regular selling price of $3,080. Unfortunately, the stove was dented in his store, so it had to be resold at a loss. During a midnight madness sale, Marco sold the stove for $2,618.Determine the rate of mark-down on the regular selling price.
A) 15.64%
B) 17.42%
C) 15.00%
D) 29 .62%
E) 30.76%

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Multiple Choice

Q 112Q 112

Bastic Corporation purchased industrial furnaces for $4,015 less 36% and 24%. Determine the mark up on cost given a regular selling price of $2,852.
A) 15.38
B) 32.82%
C) 45.16%
D) 49.65%
E) 46.04%

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Multiple Choice

Q 113Q 113

Ambient Corporation sells construction purchased saws for $5,415 less 43% and 22%. Operating expenses are 22% of selling price. Ambient sells the saws for $3,042. During a recent sale a preferred customer was given the opportunity to purchase the saw for $2,585.70. What rate of mark-up was actually realized if the customer took advantage of this price?
A) 4.10%
B) 5.20%
C) 6.30%
D) 7.40%
E) 8.50%

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Multiple Choice

Q 114Q 114

Salestopia purchases rebuilt engines for resale. Recently, it purchased engines from a wholesaler for $4,908 less 37%, 16% and 3%. Operating costs are 57% of the cost of the engine. Salestopia usually marks up the engines by 54% of the selling price. If the engines were to be sold at a break-even price, then determine the markdown percentage.
A) 28.98%
B) 27.78%
C) 26.67%
D) 16.54%
E) 6.13%

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Multiple Choice

Q 115Q 115

An irrigation pump is purchased for $5,402 less 40% and 25%. The pump is regularly priced at $3,100. Operating expenses are normally 26% of selling price. If the pump is sold at a discounted price of $2,635 then determine the profit or loss on product.
A) $427.93 Profit
B) $680.03 Profit
C) $601.90 Loss
D) $680.03 Loss
E) $25 profit

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Multiple Choice

Q 116Q 116

Office furniture is purchased for $4,685 less 48% and 21% from a distributor. The normal retail selling price on the furniture is $2,850. Operating expenses are 31% of retail selling price. Determine the profit or loss, if the furniture is sold at a discounted price of $2,422.50.
A) $98.72 Loss
B) $98.72 Loss
C) $385.60 Profit
D) $385.60 Loss
E) $41.90 Profit

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Multiple Choice

Q 117Q 117

A high performance laptop is purchased for $4,434 less 43% and 19%. Operating expenses are normally 27% of the selling price of $3,379. Determine the profit or loss, if the laptop is resold at a discounted price of $2,872.15.
A) $82.15 Profit
B) $87.36 Loss
C) $152.55 Profit
D) $272.23 Loss
E) $272.23 Profit

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Multiple Choice

Q 118Q 118

A retailer pays her supplier $240 for an item and applies a mark-up of 45% of cost. If she subsequently sells it during a "25% off" clearance sale, how much gross profit will she make?
A) $0
B) $21
C) $33
D) $108
E) $261

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Multiple Choice

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Multiple Choice

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Multiple Choice

Q 121Q 121

At the sale price, what was the rate of mark-up on cost?
A) 19.6%
B) 40%
C) 125%
D) 35%
E) 25.9%

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Multiple Choice

Q 122Q 122

What was the profit (loss) at the sale price?
A) $136.22
B) ($169.58)
C) ($116.76)
D) $408.66
E) $58.38

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Multiple Choice

Q 123Q 123

The rate of mark-up on selling price is 20% for an item that cost the retailer $84. What is the selling price?
A) $67.20
B) $16.80
C) $58.00
D) $105.00
E) $26.00

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Multiple Choice

Q 124Q 124

Fine's Furniture pays the manufacturer $200 for a reclining chair. They set a retail price to cover overhead expenses of 22% of cost plus profit. If they sell the chair for $399 what is their rate of profit expressed as a percentage of cost?
A) 28.4%
B) 38.8%
C) 99.5%
D) 49.9%
E) 77.5%

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Multiple Choice

Q 125Q 125

"Paul's Guitars always sells for Less" is a music store in Acoostic, Alberta. Their overhead expenses are 15% of cost. They recently sold a guitar for $675 and the mark-up on that guitar was equal to 22% of the selling price. How much net profit did they realize on that sale?
A) $47.25
B) $69.53
C) $89.55
D) $148.5
E) $215

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Multiple Choice

Q 126Q 126

A retailer marks up all cosmetic products to allow for overhead expenses of 30% of cost and operating profit of 40% of cost. If a product does not sell within two months, the product is marked down to its break-even price. What rate of markdown is the retailer using?
A) 40%
B) 23.5%
C) 30%
D) 70%
E) 50%

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Multiple Choice

Q 127Q 127

If the rate of mark-up on an item is 80% of cost and it is later sold after a 40% markdown, what is the rate gross profit that was actually realized?
A) 40% of cost
B) 32% of cost
C) -16% of cost
D) 8% of cost
E) Zero

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Multiple Choice

Q 128Q 128

A retailer marks up all cosmetic products to allow for overhead expenses of 40% of cost and operating profit of 25% of cost. If a product does not sell within two months, the product is marked down to its break-even price. What rate of markdown is the retailer using?
A) 25%
B) 40%
C) 15.2%
D) 30%
E) 65%

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Multiple Choice

Q 129Q 129

Car parts were purchased at a cost of $810 less 15%, 10% and 5%. The net cost of the parts were $603.20.

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Q 130Q 130

Fixtures were purchased at a cost of $615 less 25% and 8%. The net discount amounts to 31%.

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True False

Q 131Q 131

Ajax Corporation purchases business furniture at a cost of $500 less 18%. Its policy is to mark-up the cost of the furniture by 30% of the selling price. As well, operating expenses are 20% of cost. In order to breakeven, Ajax has to sell the furniture at a selling price of $450.

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True False

Q 132Q 132

Fasbe Corporation purchases computers at a cost of $425 less 9%. Its policy is to mark-up the cost of the computers by 40% of the selling price. As well, operating expenses are 15% of cost. In order to breakeven, Fasbe has to markdown the selling price by 33%.

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True False

Q 133Q 133

Pari Corporation purchases crystal vases for resale. The cost of each vase is $77 less 25%. Operating expenses are 30% of cost. Policy is to have a 60% mark-up on selling price. In order to breakeven Pari has to sell each vase at $75.08 or a 48% markdown.

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True False

Q 134Q 134

Fulton Corporation purchases leather sofas for resale. The cost of each leather sofa is $1200 less 13%. Operating expenses are 10% of cost. Policy is to have a 15% mark-up on selling price. In order to breakeven Fulton has to sell each leather sofas at a markdown of 10%.

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True False

Q 135Q 135

Alym Corporation purchases appliances for resale. The average cost of each appliance is $790 less 33%. Operating expenses are 30% of cost. Policy is to have a 44% mark-up on selling price. In order to breakeven Fulton has to sell each appliance at a markdown of 28.70%.

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True False

Q 136Q 136

A wholesaler sells a jacket that is normally $152 less 36%, 36% and 27%. If the mark-up on the jacket is 68%, then the selling price is $152.03

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True False

Q 137Q 137

Carl's Camping purchases high-end camping tents for $1,795 less 5%, 12% and 6%. Carl's operating expenses are 64% of cost, and Carl usually has a 54% mark-up on selling price. Given this information, operating expenses are $902.77

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True False

Q 138Q 138

Mercola's Equipment Warehouse purchased equipment for resale at $2,420 less 9%, 44% and 13%. Mercola has operating expenses equal to 56% of the product cost. There is a 56% mark-up on the selling price. If Mercola wanted to break-even, then it would have to sell the equipment at $1,574.74 to break-even.

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True False

Q 139Q 139

Bulk baking sugar was sold in 30Kg packages at a cost of $64 less 30%, 12% and 3%. The retail price is based on a 35% mark-up on the selling price. The final selling price is $58.83.

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True False

Q 140Q 140

The distributor of Nikita power tools is offering a trade discount of 38% to hardware stores. What will be their cost to purchase a rotary saw listed at $135?

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Short Answer

Q 141Q 141

Best Buy Entertainment can obtain Panasonic Blu-ray players for $134 less a trade discount of 35%. A comparable Samsung model is available for $127 less a discount of 30%. Which DVD player has the lower net cost? How much lower?

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Short Answer

Q 142Q 142

A 37.5% trade discount on a camera represents a discount of $223.14 from the suggested retail price. What is the net price to the buyer?

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Short Answer

Q 143Q 143

After a trade discount of 27.5%, a jeweller can obtain ahalf carot Canadian Polar Bear diamonds for $2,138.75. What is the dollar amount of the trade discount?

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Short Answer

Q 144Q 144

Net price to a car dealer of a model with a manufacturer's list price of $34,900 is $28,687.80. What trade discount rate is the dealer being given?

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Short Answer

Q 145Q 145

Green Thumb Nursery sells spreading junipers to the gardening departments of local grocery and building supply stores. The net price per tree is $27.06 after a trade discount of $22.14. What rate of trade discount is the nursery giving to retailers?

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Short Answer

Q 146Q 146

A college bookstore buys back good-condition textbooks for 45% off the retail price of new books. What will a student receive for a book currently selling at $104.50 new?

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Short Answer

Q 147Q 147

The net proceeds to the vendor of a house after payment of a 5.5% real estate commission were $160,555.50. At what price did the house sell?

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Short Answer

Q 148Q 148

A 28% trade discount on a personal video recorder represents a discount of $136.92 from the suggested retail price. What is the net price to the buyer?

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Short Answer

Q 149Q 149

The net price of an item after a discount of 22% is $155.61. What is the (dollar) amount of the discount?

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Short Answer

Q 150Q 150

The net proceeds to the vendor of a house after payment of a 4.5% real estate commission were $275,995. At what price did the house sell?

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Short Answer

Q 151Q 151

Specialty Builders Supply has two sources for the same power saw. Source A sells the saw at $196.00 less 20%, and Source B offers it at $186.60 less 16

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Essay

Q 152Q 152

A trade discount of 22.5% from the suggested selling price for a line of personal computers translates to a $337.05 discount. What net price will a retailer pay?

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Short Answer

Q 153Q 153

Specialty Builders Supply has two sources for the same power saw. Source A sells the saw at $196.00 less 20%, and Source B offers it at $186.60 less 16

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Essay

Q 154Q 154

Mr. and Mrs. Ogrodnik want to list their house at a price that will net them a minimum of $320,000 after a real estate commission of 5.5% of the selling price. Rounded to the nearest $100, what is the lowest offer they could accept on their home?

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Short Answer

Q 155Q 155

Niagara Dairies gives convenience stores a trade discount of 24% on butter listed at $72.00 per case. What rate of discount will Silverwood Milk Products have to give on its list price of $74.50 per case to match Niagara's price to convenience stores?

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Short Answer

Q 156Q 156

The evening news reports that the S&P/TSX Composite Index dropped 1.7% on the day to close at 13,646 points. Rounded to the nearest integer, how many points did the index fall on the day?

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Short Answer

Q 157Q 157

At its current price of $0.80 per share, the wholesale price of a commodity stock is down 73% from its price one year ago. What was that price?

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Short Answer

Q 158Q 158

Mapleview Poultry Farms gives convenience stores a discount of 25% on eggs listed at $43.00 per case. What trade discount will Sunnyside Farms have to give on its list price of $44.50 per case to match Mapleview's price to convenience stores?

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Short Answer

Q 159Q 159

At its current price of $1.10 per share, the price of Apex Resources stock is down 78% from its price 1 year ago. What was that price?

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Short Answer

Q 160Q 160

The evening news reports that the S&P/TSX Index dropped 0.9% on the day to close at 13,123 points. How many points did the index fall?

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Short Answer

Q 161Q 161

A wholesaler lists an item for $48.75 less 20%. What additional "special promotion" discount must be offered to retailers to get the net price down to $36.66?

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Short Answer

Q 162Q 162

Ever-rest sells its mattresses for $960 less 25%. Posture-Perfect mattresses are listed at $880 less 20% and 5%. What second discount would Ever-rest need to offer to match Posture-Perfect's net price?

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Short Answer

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Essay

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Essay

Q 165Q 165

White's Photography received an e-invoice from Fuji Canada dated February 27 of a leap year. The amount of the invoice is $2,896.77 with terms

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Essay

Q 166Q 166

What total amount must be paid on May 4 to settle invoices dated April 20 for $650, April 24 for $790, and April 30 for $465, all with terms 1½/10, n/30?

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Short Answer

Q 167Q 167

Custom Kitchens received an invoice dated November 17 from Idea Cabinets Ltd. for $7260 with terms 3/15, 1½/30, n/60. If Custom Kitchens made a payment of $4000 on December 2, what further payment on December 16 will settle the account?

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Short Answer

Q 168Q 168

Northern Outfitters' invoice to Rico's Menswear for $2,463.80 was dated October 22 with terms 2/10, n/30. Late payments are charged a 1% penalty on the overdue balance. Rico made payments of $1,000 on October 31 and $800 on November 20. What amount will pay off the balance on December 8?

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Short Answer

Q 169Q 169

What total amount must be paid on July 4 to settle invoices dated June 20 for $485, June 24 for $367, and June 30 for $722, all with terms 1½/10, n/30?

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Short Answer

Q 170Q 170

The Simcoe School Board has three invoices from Johnston Transport, all with terms 2/10, 1/20, n/60. Invoice 277, dated October 22, is for $14,200; Invoice 327, dated November 2, is for $8,600; and Invoice 341, dated November 3, is for $11,500. What total payment to Johnston on November 12 will settle all three invoices?

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Short Answer

Q 171Q 171

Omega Restaurant received an invoice dated July 22 from Industrial Kitchen Equipment for $3691, with terms 2/10, 1/20, n/45. Omega made payments of $1,100 on August 1, $900 on August 10, and $800 on August 31. What amount was still owed on September 1?

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Short Answer

Q 172Q 172

A payment of $500 on an invoice for $887 reduced the balance owed to $378.09. What cash discount rate was allowed on the $500 payment?

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Short Answer

Q 173Q 173

Ballard Jewellers received an invoice dated August 22 from Safeguard Security Systems for $2,856.57 with terms 2½/10, 1/20, n/45. Ballard made payments of $900 on September 1, $850 on September 10, and $700 on September 30. What amount was still owed on October 1?

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Short Answer

Q 174Q 174

Peak Roofing sent Jensen Builders an invoice dated July 12 for $5,400 with terms 3/10, 1½/20, n/45. Jensen made a payment of $2,000 on July 20, and a second payment on August 1 that reduced the balance owed to $1,000. What was the size of the second payment?

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Short Answer

Q 175Q 175

On August 6, A&B Construction has three outstanding invoices payable to Excel Builder's Supply. Invoice 535, dated July 16, is for $3,228.56; Invoice 598, dated July 24, is for $2,945.31; and Invoice 678, dated August 3, is for $6217.69. All invoices have terms 4/10, 2/20, n/60. If A&B makes a $10,000 payment to Excel on August 6, what further payment on August 15 will settle the account? Note that Excel applies payments to the oldest invoices first.

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Short Answer

Q 176Q 176

For a given dollar amount of mark-up, which will be the larger number: the rate of mark-up on cost or the rate of mark-up on selling price? Explain.

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Essay

Free

Short Answer

Free

Essay

Free

Essay

Free

Essay

Free

Essay

Free

Essay

Q 183Q 183

Omega Restaurant buys Shiraz wine at $16.95 per bottle, and sells it to customers at $34.95 per bottle. Calculate Omega's rate of mark-up on cost and rate of mark-up on selling price of the wine.

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Essay

Q 184Q 184

Loblaws purchases raisins at $85.75 per 25-kg box and then sells them in its bulk foods department for $0.59 per 100 g. What is Loblaws rate of mark-up on cost and rate of mark-up on selling price of the raisins?

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Essay

Q 185Q 185

Just Desserts buys cheesecakes from General Bakeries at $33.60 per cheesecake. It then cuts each cheesecake into 16 slices and sells them to customers at $6.50 per slice. Calculate the rate of mark-up on cost and the rate of mark-up on selling price.

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Essay

Q 186Q 186

Bosley's Pet Foods buys dog kibble for $19.50 per bag less 40%. The store's overhead is 33

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Essay

Q 187Q 187

The Annapolis Rotary Club sells hot dogs for $1.95 each at the annual Annapolis Fall Fair. The Rotary Club buys wieners at $3.95 per package of 10 wieners, and hot dog buns at $2.90 per dozen. It costs $78 for enough condiments for 1,000 hot dogs. What are the Rotary Club's rate of mark-up on selling price and rate of mark-up on cost?

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Essay

Q 188Q 188

Worker's World bought 250 pairs of rubber boots at $15 per pair. The manager applies a 90% rate of mark-up on cost when pricing footwear. What is the operating profit per pair if overhead expenses work out on average to be 20% of the selling price?

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Short Answer

Q 189Q 189

A florist buys potted poinsettias from a nursery at $15 each less 40% and 10%. The florist prices her stock to allow for overhead of 55% of cost and an operating profit of 20% of the selling price. At what price should she sell the poinsettias?

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Short Answer

Q 190Q 190

Beaver Building Supply obtains 4- by 8-ft sheets of half-inch plywood from Macmillan Forest Products at $34 per sheet less 30% and 5%. The price is to be set to cover Beaver's overhead of 20% of the selling price and to provide an operating profit of 12% of the selling price. What should be the retail price per sheet?

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Short Answer

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Essay

Q 192Q 192

A pharmacy marks up its springtime shipment of sunglasses to provide for overhead expenses of 40% of cost and a profit of 70% of cost. At the end of the summer, what rate of markdown can the pharmacy apply to the remaining inventory of sunglasses and still break even on sales at this level?

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Short Answer

Q 193Q 193

A retailer pays $81 to a wholesaler for an article. The retail price is set using a rate of mark-up on selling price of 40%. To increase traffic to his store, the retailer marks the article down 20% during a sale. What is the sale price?

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Short Answer

Q 194Q 194

The Shoe Shop's normal rate of mark-up on selling price is 45%. What rate of markdown can the store offer on a pair of shoes normally priced at $140, and still realize a 20% rate of mark-up on cost at the sale price?

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Short Answer

Q 195Q 195

Next Designs sets its regular prices based on overhead expenses at 50% of cost and an operating profit of 40% of cost. What will be the operating profit (as a percent of cost) for clothing sold at a 20% discount?

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Q 196Q 196

Water Sports Ltd. pays $360 less 25% for a backyard above-ground pool kit.
Overhead expenses are 16

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Essay

Q 197Q 197

A pair of noise-cancelling headphones retails for $349. The dealer's overhead is 25% of cost, and normal operating profit is 16

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Essay

Q 198Q 198

Rainbow Paints is discontinuing a line of paint that it purchased at $30 less 45% and 10% per 4-litre pail. The store's overhead is 50% of cost, and normal operating profit is 30% of cost. If the manager of the store is prepared to accept a loss of one-quarter of the overhead expenses, what markdown rate can the store offer in order to clear out the paint?

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Short Answer

Q 199Q 199

The Cell Kios buys Android smartphones at $550 less 40% and 10%. The price is marked up to allow for overhead of 50% of cost and profit of 35% of cost. The unit on display in the store is scratched. What rate of markdown from the regular price can the store offer if it is to recover only half of the unit overhead costs?

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Short Answer

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Essay

Q 201Q 201

Sunrise Building Supply obtains 4- by 8-ft sheets of wallboard from Canadian Gypsum at $30 per sheet less 30% and 10%. The price is to be set to cover Sunrise's overhead of 20% of the selling price and to provide an operating profit of 18% of the selling price. What should be the retail price per sheet?

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Short Answer

Q 202Q 202

Ski 'n Cycle purchased Elan 200 skis for $492 per pair and priced them to give a rate of mark-up on selling price of 40%. When this model was discontinued, the store marked down its remaining stock by 30%. What was the sale price after the markdown?

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Short Answer

Q 203Q 203

A pharmacy marked up its sunscreen to provide for overhead expenses of 40% of cost and a profit of 45% of cost. At the end of the summer, what rate of markdown can the pharmacy apply to the remaining inventory of sunscreen and still break even on sales at the reduced price?

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Short Answer

Q 204Q 204

A snow blower retails for $489. The dealer's overhead is 20% of cost, and normal operating profit is 16

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Essay

Q 205Q 205

Workwear Station uses a mark-up on cost of 60% to establish its retail prices. This pricing rule builds in a profit of 25% of cost. What rate of markdown can Workwear Station offer and just break even on the reduced price?

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Short Answer

Q 206Q 206

The rate of mark-up on cost of fresh peaches in a grocery store is 125% because of the large losses from spoilage and bruising while the peaches are in storage and on display. What is the rate of mark-up on selling price?

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Short Answer

Q 207Q 207

Village Foods employs a 35% rate of mark-up on cost of all dairy products. The store's overhead averages out to 20% of sales each month. What is the operating profit on a 4-litre pail of ice cream for which the wholesale cost is $4.65?

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Short Answer

Q 208Q 208

Prestige Clothiers' regular prices for menswear are set to provide a rate of mark-up on selling price of 40%. Overhead expenses are 30% of cost on average. What is the operating profit on a suit that sells for $495?

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Short Answer

Q 209Q 209

Digital Devices sets its retail prices on computers, monitors, and printers to generate a rate of mark-up on selling price of 30%. Overhead expenses normally work out to be 30% of cost. What is the operating profit on a monitor that costs $345?

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Short Answer

Q 210Q 210

The Pro Shop at Sunny Lake Golf and Country Club prices its golf club sets to allow for overhead of 33

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Essay

Q 211Q 211

If a grocery store's rate of mark-up on selling price of tomatoes is 55%, what is the rate of mark-up on cost of the tomatoes?

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Q 212Q 212

The list price of a coat is $125.00. A retailer is able to purchase the coat for $106.25.
What is the rate of trade discount?

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Q 213Q 213

A manufacturer of snowmobiles sells through distributors in some regions of the country, through wholesalers in other regions, and directly to retailers in its home province. The manufacturer gives a 25% trade discount to retailers, an additional 10% discount to wholesalers, and a further 7.5% discount to distributors. What net price does the manufacturer receive from each buying level on a snowmobile listed at $9,800?

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Q 214Q 214

A wholesaler advertises a 25% discount on all clothing. You buy several sweaters for $48.75 each for your retail boutique. What was the wholesaler's list price per sweater?

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Q 215Q 215

A wholesaler offers discounts of 10%, 8%, and 5%. What is the single equivalent discount rate?

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Q 216Q 216

Larissa sells coats for $200 less 30%. Kristina sells coats for $196 less 25% and 5%. What second discount would Larissa need to offer to match Kristina's net price?

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Q 217Q 217

M studios received an invoice for photography equipment for $500 dated May 5, with terms 2/10, n/30. What payment will settle the invoice on:
a) May 15?
b) May 16?

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Q 218Q 218

An invoice dated March 15 for $400 with terms 2/10, 1/20, EOM, was received on March 20. By what date should the invoice be paid to qualify for the 2% discount?

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Q 219Q 219

An invoice dated March 15 for $400 with terms 2/10, 1/20, ROG, was received on March 20. The goods were delivered on April 28. By what date should the invoice be paid to qualify for the 2% discount?

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Q 220Q 220

Sutton Trucking made two equal payments, on June 25 and July 15, on an invoice for $6,350 dated June 15 with terms 3/10, 1/30, n/60. The payments reduced the balance owed on the invoice to $1,043.33. What was the amount of each payment?

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Q 221Q 221

What total amount must be paid on June 19 to settle invoices dated June 1 for $600, June 5 for $300, and June 9 for $400, all with terms 3/10, 2/15, n/30?

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Q 222Q 222

What payment must be made on April 5 on an invoice for $2,250, dated March 16 with terms 2/10, 1/20, n/30 in order to reduce the outstanding balance to $1,500?

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Q 223Q 223

Stanford Marketing Inc. received an invoice for $3,500 on August 19, with terms 1/10, n/30, EOM. What amount will reduce the outstanding balance to $2,000 if paid on September 9?

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Q 224Q 224

Stanford Marketing Inc. received an invoice for $3,500 on August 19, with terms 2/10, n/30, ROG, for goods received October 15. What amount will reduce the outstanding balance to $2,000 if paid on October 25

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Q 225Q 225

An invoice for $2,956.60, dated February 2, has terms 2/15, 1/30, n/90. What three equal payments on February 17, March 2, and May 2 will settle the account?

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Q 226Q 226

A payment of $727.50 was made on May 7 on an invoice totalling $3,000.00 dated April 27 with terms 3/10, 1/15, n/30. What amount is still owed?

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Q 227Q 227

Stanford Marketing Inc. received an invoice for $7,500 on April 10, with terms 3/10, n/30, EOM. Stanford submitted a payment of $5,000 on May 10. What is the outstanding balance on the invoice after the payment is made?

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Q 230Q 230

M Studios is ordering a new type of camera, which costs $315. M Studios allows 35% of cost for operating expenses and 20% of cost for profit. What selling price should M Studios advertise the camera at?

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Q 231Q 231

Under what unusual circumstances will the rate of mark-up on cost equal the rate of mark-up on selling price?

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Q 232Q 232

What is the profit on a unit, which costs $21.60 and sells for $49.95, when operating expenses are expected to be 25% of cost?

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Q 233Q 233

M Studios sells a camera lens for $300. During their annual August sale, the camera lens is reduced by 15%. What is the sale price?

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Q 234Q 234

Cliff sells memberships at his karate club for $500 per year. His nearest competitor is offering a special price during the last two weeks of December of $425 per year. What rate of markdown will Cliff have to offer to match his competitor's price?

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Q 235Q 235

An item sells for $85. The cost of the item is $50 and overhead expenses are estimated to be 25% of the selling price. What is the rate of mark-up on selling price of the item?

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Q 236Q 236

A bedroom suite costs Town & Country Furniture $2,500 less 30% and 15%. The normal rate of mark-up on cost is 90%. The suite is marked down 30% in a Mid-Summer sale. What is the sale price?

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Q 237Q 237

An item costing $50 was marked up 40% of the cost price and then reduced for a quick sale by 40% of the selling price. What was the sale price?

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Q 238Q 238

After all discounts, the net cost of a product was $690.68. The regular retail price of the product was $946.23. Operating expenses associated with the product were $124.32. If the product was sold to actually realize a 16.45% mark-up, then determine the discounted retail price.

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Q 239Q 239

After all discounts, the net cost of a product was $399.43. The regular retail price of the product was $495.29. Operating expenses associated with the product were $39.94. If the product was sold to actually realize a 5.40% mark-up, then determine the discounted retail price.

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Q 240Q 240

Mining equipment was purchased at a wholesale price of $1,365 less 35% and 5%. The retail price is based on a 31% mark-up on cost. The retailer's operating expenses is approximately 10% of the selling price. Determine the profit or loss realized if the product is put on sale for $938.56.

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Q 241Q 241

Future Shop purchases computers for $787 less 31% and 6%. The normal retail price is 37% markup on cost. Determine the normal retail price

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Q 242Q 242

A product has a wholesale price of $876 less 27% and 8%. Mark-up on cost is 29%, while operating expenses are 16% of selling price. If the retailer sells the product for $645.09, determine the rate of mark-up realized.

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Q 243Q 243

London Drugs purchases digital cameras for $850 less 32% and 6%. Mark-up on cost is 38% and on average operating expenses are 18% of selling price. Determine the profit or loss realized per camera if they are put on sale for $662.34.

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Q 244Q 244

A dining set was purchased by Sears for $903 less 28% and 6%. Sears marks up this product by 38% of cost. If operating expenses amounted to $67.23, then determine the operating expenses as a percentage of selling price.

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Q 245Q 245

Office furniture was purchased by a retailer for $506 less 32% and 9%. There is a 39% mark-up on cost and operating expenses are 14% of selling price. If the retailer put the furniture on sale to realize an 18.15% mark-up, determine the price it was sold.

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Q 246Q 246

A product with a wholesale price of $4,524 is sold less 49% and 17%. The retail price of the product is $3,070. Determine the mark-up on cost.

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Q 247Q 247

The wholesale price of an industrial part is $5,523 less 37% and 25%. The retailer has a mark-up on cost is 29.83%. Operating expenses for the retailer is 35% of selling price. If the part is sold for $2,879.80, determine the rate of mark-up actually realized.

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Q 248Q 248

A retailer purchases mechanical equipment for $4,505 less 42% and 25%. The retail selling price is based on a 66.35% mark-up on cost. If the equipment is sold at a retail price of $2,771, determine the profit or loss realized.

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Q 249Q 249

A product is purchased for $1,460 less 30% and 5%. Mark-up on cost is 54%. Determine the retail price for the product.

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Q 250Q 250

Merchandise with a wholesale price of $4,926 is purchased less 55% and 22%. If the retail price is $3,074, determine the mark-up on cost.

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Q 251Q 251

A wholesaler sells a product for $4,637 less 36% and 19%. The retailer prices the product at 26.76% mark-up on cost. If operating expenses for the retailer are 25% of selling price, then determine the amount of operating expenses pertaining to the product.

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Q 252Q 252

Sonic Boom obtained a sound system for $2,400 less 30% and 15%. The system was originally priced so that, when sold in a "20% off" sale, the store's overhead and operating profit represent 25% and 15%, respectively, of the sale price. In a Midnight Madness Special, the system was sold at a "

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Q 254Q 254

An item costs $63. The selling price is set to include a profit of 25% of the selling price and estimated overhead expenses of 30% of the selling price. What is the rate of mark-up on cost?

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Q 255Q 255

Larissa bought summer dresses for her boutique at a cost of $80 each. The dresses were marked up by 50% of the selling price. At the end of August, three of the dresses were unsold, and Larissa reduced the price to $90 each. What was the rate of markdown for the remaining dresses?

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Q 256Q 256

If the rate of mark-up on selling price of lettuce in a grocery store is 60% of the selling price, what is the rate of mark-up on cost?

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Q 257Q 257

M. Studios buys cameras for $750, less 10%, plus an additional volume discount of 8% on orders of 200 or more. The list price of the cameras is based on operating expenses of 20% of cost and a desired profit of 15% of cost. The store manager has 10 cameras remaining from an order of 250, and has decided to sell them at the breakeven price. What will be the rate of markdown?

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Q 258Q 258

An item is purchased for $300, less 35%, 20%, and 10%. The selling price is set so that estimated overhead expenses are 30% of the selling price, and operating profit is 25% of the selling price. What is the breakeven price of the item?

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Q 259Q 259

A sweater sells for $130.50. Overhead expenses are 25% of cost and operating profit is 20% of cost. What rate of markdown will price the sweater at the break-even price?

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Q 260Q 260

An item purchased for $150, less 25%, was marked up by 40% of cost. The item was then reduced 30%. What was the sale price?

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