Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 1 (a) (b) [20 MARKS] Green Danube sells an item for RM100 less 20% while Black Danube sells the same item for RM120 less

QUESTION 1 (a) (b) [20 MARKS] Green Danube sells an item for RM100 less 20% while Black Danube sells the same item for RM120 less 40%. (1) (ii) Find the net prices of the item for the two shops. (4 marks) What further discount percentage must be offered by the shop that sells at a higher net price in order to meet the competitor's prices? (3 marks) The net price of a machine listed as RM1,450 after deducting trade discounts of 13%, 10% and x% is RM1,078.58. Find (10) the value of x, (ii) the single discount that is equivalent to trade discounts given. (4 marks) (3 marks) (c) A retailer receives an invoice dated 20 June 2019 for RM3,500. This amount includes a handling charge of RM23. The trade discounts offered are 10%, 5% and the cash discount terms are 4/10, 2/20 and n/60. If the invoice is paid on 28 June 2019, find the amount paid. (6 marks)
image text in transcribed
(a) Green Danube sells an item for RM100 less 20\% while Black Danube sells the same item for RM120 less 40%. (i) Find the net prices of the item for the two shops. (4 marks) (ii) What further discount percentage must be offered by the shop that sells at a higher net price in order to meet the competitor's prices? (3 marks) (b) The net price of a machine listed as RM1,450 after deducting trade discounts of 13%, 10% and x% is RM1,078.58. Find (i) the value of x, (4 marks) (ii) the single discount that is equivalent to trade discounts given. (3 marks) (c) A retailer receives an invoice dated 20 June 2019 for RM3,500. This amount includes a handling charge of RM23. The trade discounts offered are 10%,5% and the cash discount terms are 4/10,2/20 and n/60. If the invoice is paid on 28 June 2019 , find the amount paid. (6 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Nuclear Auditing Handbook A Guide For Quality Systems Practitioners

Authors: Charles Moseley, Norman Moreau, Karen Douglas

1st Edition

1636940072, 978-1636940076

More Books

Students also viewed these Accounting questions