financial math: Quiz 1: Discounts and Markup

An spark plug listed at $1.89, marked down 29%.

$1.34

What is the original list price if the discount is $25 and the discount rate is 12%?

.12x = $25 x = $25/.12 = $208.33

A candy bar costing $0.52 and selling for $0.79.

.27

Find the selling price of the following item. A box of pencils costing $0.20 and marked up $0.19.

.39

Your business signs a ninety-day promissory note for $1,000 at 4% monthly interest. How much interest will you have to pay on a collect basis?

120

A table marked up $45.00, selling for $189.95

144.95

You see a used car you wish to buy. The dealer quotes you a price of $8,595. You have a blue book quotation of $7,400 for the same model and year. How much markup on cost is the dealer using?

16.15

What price should a retailer place on an item that costs him $13.95, if he wants a markup of 30%?

18.14

You are offered an item for $22.85. If the seller states he normally sells the same item for $29.95, what percentage discount is he offering you?

23.96

If an item has a retail price = $1,995 and a discount of 15%, how much is the discount?

299.25

Find the sales price of the following item. A toaster originally costing $39.99, marked down $8.50.

31.49

If an article costs a store $7.45 and if it sells the article for $9.95, what percentage (to the nearest tenth) markup is it using?

33.6

If the cost is $35.96 and the desired markup is 10%, what is the price after markup?

39.56

You are offered an item for $13.79. If the seller states he normally sells the same item for $14.95, what percentage discount is he offering you?

7.76

Your bill from Acme Supply Company is marked "2/12, net 30." The amount of the bill is $89.95. If you pay the bill within 12 days, how much should you tender?

88.15

A skateboard costing $39.00 marked up 40% on cost.

Markup= 15.60 Selling price= 54.60

Which industry had the greatest percentage increase in profits as a percentage of sales between 1970 and 1974?

chemicals 64%

Liquidity refers to the degree of readiness of conversion of an asset into cash.

true

Manufacturers sometimes offer a quantity discount to buyers on large orders.

true