Questions from Business Mathematics

Q: Rainbow Paints is discontinuing a line of paint that it purchased at

Rainbow Paints is discontinuing a line of paint that it purchased at $30 less 45% and 10% per 4-L pail. The store’s overhead is 50% of cost, and normal operating profit is 30% of cost. If the manager...

Q: United Furniture buys reclining rocking chairs at $550 less 40%

United Furniture buys reclining rocking chairs at $550 less 40% and 10%. The price is marked up to allow for overhead of 50% of cost and profit of 35% of cost. The unit on display in the store acquire...

Q: Fashion Master purchased men’s sweaters for $72 less 40% and

Fashion Master purchased men’s sweaters for $72 less 40% and 15%. The normal rate of markup on selling price is 40%, and overhead is 25% of the regular selling price. The sweaters were reduced to $45....

Q: Mr. Vacuum obtains vacuum cleaners for $720 less 33 1

Mr. Vacuum obtains vacuum cleaners for $720 less 33 1 3 % and 15%. A demonstration unit regularly priced at $750 was sold for $450. The shop’s overhead is 22% of cost. 1. What was the markdown rate on...

Q: A discount furniture store bought a memory foam mattress at the wholesale

A discount furniture store bought a memory foam mattress at the wholesale price of $665. The “regular price” of the mattress is set so that, in a “20% off” sale, the rate of markup on selling price is...

Q: A jewellery store purchased a diamond ring for $2500 less 40

A jewellery store purchased a diamond ring for $2500 less 40% and 5%. The store’s average unit overhead expenses are 30% of cost. The “regular price” of the ring is established so that, if it is sold...

Q: Sonic Boom obtained a surround sound system for $2400 less 30

Sonic Boom obtained a surround sound system for $2400 less 30% and 15%. The store’s pricing is based on overhead expenses of 40% of cost. The “regular price” of the surround sound system is set so tha...

Q: A machine can be leased for four years at $1000 per

A machine can be leased for four years at $1000 per month payable at the beginning of each month. Alternatively, it can be purchased for $45,000 and sold for $5000 after four years. Should the machine...

Q: Express decimal and percent equivalent forms to five-figure accuracy.

Express decimal and percent equivalent forms to five-figure accuracy. 7 8

Q: A retailer marked up an item from its $7.92

A retailer marked up an item from its $7.92 cost to the regular selling price of $19.80. During the store’s anniversary sale, the item was offered at 20% off. On a sale at this price, what was the (re...