These questions are related to Chapters- Trade Discounts, Series of Discounts and Equivalent Discounts, Exchange Rates, Buying and Selling Currencies, Currency Appreciation and Depreciation

1- A wholesaler listed a food additive for $42.00 per kg. Last winter, he offered 20.00% and 8.00% discounts to a retailer. Round your answer to 2 decimal places.

a. Calculate the net price to the retailer.

Round to the nearest cent

b. Calculate the single equivalent discount rate.

2- A bank in Toronto charges 2.3% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.1161.

a. How many Canadian dollars will you have to pay to purchase US$6,000?

Round to the nearest cent

b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction?

Round to the nearest cent

3- Vanessa, a florist, purchases roses for $1.79 each. Her operating expenses are 24% on cost and operating profit is 61% on cost.

a. What is the amount of operating profit on each rose?

Round to the nearest cent

b. What is the selling price of each rose?

Round to the nearest cent

c. What is the rate of markup on selling price?

%Round to two decimal places

4- Paige purchased dress shirts to sell in his clothing store that has overhead expenses equal to 12.00% of costs. To make a profit of 13.00% of the cost, he sells them at a regular price of $60.00 each.

a. What rate of markdown is required to sell the shirts at break-even?

%

Round to two decimal places

b. What rate of markdown is required to sell the shirts at cost?

%

Round to two decimal places