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business math
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Terms in this set (14)
If the net price of a stove is $900 and the trade discount rate is 40%, the list price is:
$1,500
An invoice dated March 6 with terms of 1/10, EOM results in the end of the discount period on:
April 10
Brenda purchased a total of five computers for $3,300. She received a 20% trade discount. What did Brenda pay for the computers?
$2,640
Roland Corporation buys stoves from a wholesaler. The list price of a stove is $900, with a trade discount of 30%. The net price is:
$630
Joanne's Dress Shop received an invoice dated July 25 for $1,400, with terms of 2/10, 1/15, n/60. On August 8, Joanne's Dress Shop sent a partial payment of $750. The actual amount that should be credited is:
$757.58
Black & Decker Manufacturing sold a set of saws to True Value Hardware. The list price was $3,800. Black & Decker offered a chain discount of 8/3/1. The net price of the saws is:
$3,357.21
Gap sells jeans that cost $21.00 and sell for $29.95. The percent of markup based on cost is:
42.62%
Bill's Furrier marks up mink coats $3,000. This represents a 50% markup on cost. What is the cost of the coats?
$6,000
J.C. Penney sells a Timex watch for $139.99 that cost $89.97. J.C. Penney's percent of markup based on the selling price is:
35.73%
A local True Value Hardware Store marks its goods up 38% on cost. If a snow blower cost True Value $400, the selling price would be:
$552.00
At the end of the summer, Walgreens advertised blow-up pools for 66% off the regular price. Jeff Jones saw a pool with a regular price of $49.99. The dollar markdown is:
$32.99
Belle's Bake Shop makes croissants that cost $1.75 each. Past experience shows that 10% of the croissants will spoil and have to be discarded. Assuming Belle wants a 45% markup based on cost and produces 300 croissants, each croissant should sell for:
$2.82
A local Dot Dress Shop is selling a suit for $99. Because of changing styles, the first markdown was 8% and second markdown was 25%. The suit still did not sell, so a final markdown of 10% was taken. The sale price is currently:
$61.48
Macy's Department Stores markup men's cologne 63% on cost for an 8-ounce bottle. A bottle of cologne costs Macy's $23.00. What is the selling price for the 8-ounce bottle?
$37.49
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