(a) A wholesaler lists an item for $58.75 and gives 20% trade discount. What is the net price of the item?

(b) The wholesaler gives another discount (that is in addition to 20% trade discount) to promote more sales. What is the second discount rate if the price of the item is dropped to $42.30?

An invoice shows a net price of $199.16 after trade discounts of 22%, 7%, and 5% are deducted.

(a) What was the list price of the item ?

(b) What single trade discount would be equivalent to the discount series?

3.

Omega Restaurant received an invoice dated Aug 1 from Industrial Kitchen Equipment

for $3691, with terms 2/10, n/45. (a) Omega plans to pay the invoice on August 5th. How much would Omega pay?

(b) Omega missed to pay the invoice on August 5th and paid the invoice on Aug 29th. How much did it pay?

A retailer purchased 400 wallets at a cost of $15 each.

(a) What is the total cost?

(b) The retailer sold 250 at the regular price of $25, 100 at 20% off the regular price, and the remaining hats were cleared out at $15 each. What is the total revenue from selling the wallets?

(c) What is the total markup amount?

(d) Assume that the overhead expenses is 35% of cost. What is the total operating profit (or loss) on the sale of all the wallets?

4.

5.

Running a small shop in Vancouver you ordered a shipment of gas barbecues at a suggested retail price of $499.99. You received a trade discount and seasonal discounts at 30% and 10%.

(a) What is the net price of each barbecue?

(b) You intend to sell them at the suggested retail price. If overhead expenses are 20% of the selling price, what will be the unit operating profit?

(c) What is the rate of markup on cost?

(d) What is the rate of markup on selling price?

(e) What would be the break-even selling price for an inventory clearance sale?

If a five-month deposit at a bank pays a simple interest rate of 6.5%, how much will have to be deposited to earn $100 in interest?

6.

7. Maria's chequing account was $329 overdrawn beginning on September 24. On October 9 she made a deposit that restored a credit balance. If she was charged overdraft interest of $2.50, what annual rate of simple interest was charged?

8. An item is marked down by the same percentage as the rate of markup on selling price. Will the reduced operating profit be positive, negative or zero? Explain.

9. From Dec 27, 2019 to Dec 27, 2021, the S&P/TSX Composite Index changed from 17,168.21 to 21,344.65. If you had invested $20,000 in a portfolio of the shares of the companies in the index on Dec 27, 2019, what would the value of those shares have been on Dec 27, 2021?(a) A wholesaler lists an item for $58.75 and gives 20% trade discount. What is the net price of the item?

(b) The wholesaler gives another discount (that is in addition to 20% trade discount) to promote more sales. What is the second discount rate if the price of the item is dropped to $42.30?

An invoice shows a net price of $199.16 after trade discounts of 22%, 7%, and 5% are deducted.

(a) What was the list price of the item ?

(b) What single trade discount would be equivalent to the discount series?

3.

Omega Restaurant received an invoice dated Aug 1 from Industrial Kitchen Equipment

for $3691, with terms 2/10, n/45. (a) Omega plans to pay the invoice on August 5th. How much would Omega pay?

(b) Omega missed to pay the invoice on August 5th and paid the invoice on Aug 29th. How much did it pay?

A retailer purchased 400 wallets at a cost of $15 each.

(a) What is the total cost?

(b) The retailer sold 250 at the regular price of $25, 100 at 20% off the regular price, and the remaining hats were cleared out at $15 each. What is the total revenue from selling the wallets?

(c) What is the total markup amount?

(d) Assume that the overhead expenses is 35% of cost. What is the total operating profit (or loss) on the sale of all the wallets?

4.

5.

Running a small shop in Vancouver you ordered a shipment of gas barbecues at a suggested retail price of $499.99. You received a trade discount and seasonal discounts at 30% and 10%.

(a) What is the net price of each barbecue?

(b) You intend to sell them at the suggested retail price. If overhead expenses are 20% of the selling price, what will be the unit operating profit?

(c) What is the rate of markup on cost?

(d) What is the rate of markup on selling price?

(e) What would be the break-even selling price for an inventory clearance sale?

If a five-month deposit at a bank pays a simple interest rate of 6.5%, how much will have to be deposited to earn $100 in interest?

6.

7. Maria's chequing account was $329 overdrawn beginning on September 24. On October 9 she made a deposit that restored a credit balance. If she was charged overdraft interest of $2.50, what annual rate of simple interest was charged?

8. An item is marked down by the same percentage as the rate of markup on selling price. Will the reduced operating profit be positive, negative or zero? Explain.

9. From Dec 27, 2019 to Dec 27, 2021, the S&P/TSX Composite Index changed from 17,168.21 to 21,344.65. If you had invested $20,000 in a portfolio of the shares of the companies in the index on Dec 27, 2019, what would the value of those shares have been on Dec 27, 2021?