Questions from Business Mathematics

Q: Pet Mart purchased a litter of six puppies from a reputable breeder

Pet Mart purchased a litter of six puppies from a reputable breeder for $121 each. If the rate of markup on selling price is 45%: 1. What is the selling price of each puppy? 2. What is the rate of mar...

Q: If the rate of markup on selling price of lettuce in a

If the rate of markup on selling price of lettuce in a grocery store is 60%, what is the rate of markup on cost?

Q: The rate of markup on the cost of fresh peaches in a

The rate of markup on the cost of fresh peaches in a grocery store is 125% because of the large losses from spoilage and bruising while the peaches are in storage and on display. What is the rate of m...

Q: A firm is considering the purchase of a $30,000

A firm is considering the purchase of a $30,000 machine that would save labour costs of $5000 per year in the first three years and $6000 per year for the next four years. Will the firm purchase the m...

Q: Workers World buys rubber boots from the manufacturer for $15 per

Workers World buys rubber boots from the manufacturer for $15 per pair. The manager applies a 90% rate of markup on cost when pricing footwear. What is the operating profit per pair if overhead expens...

Q: A florist buys potted poinsettias from a nursery at $15 each

A florist buys potted poinsettias from a nursery at $15 each, less series discounts of 40% and 10%. The florist prices her stock to allow for overhead of 55% of cost and an operating profit of 20% of...

Q: Beaver Building Supply obtains 4-ft by 8-ft sheets

Beaver Building Supply obtains 4-ft by 8-ft sheets of half-inch plywood from Macmillan Forest Products at $54 per sheet less discounts of 30% and 5%. The trade price is to be set to cover Beaver’s ove...

Q: Village Foods employs a 35% rate of markup on the cost

Village Foods employs a 35% rate of markup on the cost of all dairy products. The store’s overhead averages out to 20% of sales each month. What is the operating profit on a 4-L pail of ice cream for...

Q: Prestige Clothiers’ regular prices for menswear are set to provide a 40

Prestige Clothiers’ regular prices for menswear are set to provide a 40% rate of markup on selling price. Overhead expenses are 30% of cost on average. What is the operating profit on a suit that sell...

Q: Digital Devices sets its retail prices on computers, monitors, and

Digital Devices sets its retail prices on computers, monitors, and printers to generate a 30% rate of markup on selling price. Overhead expenses normally work out to be 30% of cost. What is the operat...