UESTION 1

Fathers' Day suits were advertised for 35 percent off the regular price. A suit regularly sells for $210. The amount of the markdown is:

a.

$37.50

b.

$136.50

c.

$73.50

d.

$163.50

e.

None of these

1 points

QUESTION 2

The markdown percent is calculated by:

a.

Amount of markdown divided by sale price

b.

Amount of markdown divided by original selling price

c.

Sale price divided by amount of markdown

d.

Original selling price divided by amount of markdown

e.

None of these

1 points

QUESTION 3

Jackie Smith, a customer of Roger Blank, will only pay $190 for a tennis racket. Assuming Roger works on a 60 percent markup on the selling price, the most Roger will pay the manufacturer is:

a.

$76

b.

$114

c.

$67

d.

$141

e.

None of these

1 points

QUESTION 4

Gap sells jeans that cost $21.00 for a selling price of $29.95. The percent of markup based on cost is:

a.

42.62%

b.

46.26%

c.

29.88%

d.

28.9%

e.

None of these

1 points

QUESTION 5

Zales bought a tea set for $1,400. Zales wants to markup the set 55% of the selling price. The selling price of the tea set should be:

a.

$2,030

b.

$2,300

c.

$3,111.11

d.

$3,111.10

e.

None of these

1 points

QUESTION 6

A computer sells for $995, which is marked up 35 percent of the selling price. The cost of the computer is:

a.

$1,343.25

b.

$1,433.52

c.

$1,350.77

d.

$1,530.77

e.

None of these

1 points

QUESTION 7

Markup is:

a.

Selling price + cost

b.

Selling price divided by cost

c.

Selling price - cost

d.

Selling price - (1 + cost)

e.

None of these

1 points

QUESTION 8

If percent markup on cost and selling price is known, one is able to compute the:

a.

Amount of markdown

b.

Amount of spoilage

c.

Cost

d.

Selling price at wholesale

e.

None of these

1 points

QUESTION 9

A video game sells at Arnolds for $14.99. Arnolds marks the game up at 40 percent of the selling price. The cost of the video game to Arnold is:

a.

$6.00

b.

$8.99

c.

$6.50

d.

$9.10

e.

None of these

1 points

QUESTION 10

Jay King, owner of a local Bed and Bath Store knows that his customers will only pay at most, $299 for a blow up bed. Assuming Jay wants a 40% markup on selling price, the most he could pay the manufacturer for the blow up bed is:

a.

$197.04

b.

$179.04

c.

$104.65

d.

$179.40

e.

None of these