Question: A pharmacy marks up its springtime shipment

> Use the graphical method to solve the pairs of equations. 7 p − 3 q = 23 −2 p − 3 q = 5

> Use the graphical method to solve the pairs of equations. 4 a − 3 b = −3 5 a - b = 10

> Use the graphical method to solve the pairs of equations. y − 3 x = 11 5 x + 30 = 4 y

> Use the graphical method to solve the pairs of equations. x + y = 4 2 x - y = 8

> Draw graph each of the equations. −2x + y = 4 over the range x = −3 to x = 6

> Express decimal and percent equivalent forms to five-figure accuracy. 37.5 50

> Use the graphical method to solve the pairs of equations. x − 3 y = 0 x + 2 y = −5

> Use the graphical method to solve the pairs of equations. 6 x = 3 y 4 x - y = 1

> Use the graphical method to solve the pairs of equations. x − 3 y = 3 y = −2

> Use the graphical method to solve the pairs of equations. x + y = 2 x = 5

> Randolph runs a home appliance repair business and charges a service call fee of $85 plus $15 per half hour for his labour. Write an equation for calculating the total charges, C, in terms of hours of labour, H. What would be the slope and C-intercept?

> The formula for converting from Celsius temperatures, C, to Fahrenheit temperatures, F, is F = 9 5 C + 32 . 1. If you were to plot a graph of F vs. C, what would be the slope and F-intercept of the line? 2. The slope represents the change in F per unit c

> In his sales job, Ehud earns a base salary of $1500 per month plus a commission of 5% on sales revenue. Write an equation for calculating his gross earnings, E, for a month in terms of his sales revenue, R. If you were to plot a graph of E vs. R, what wo

> A plumber charges a flat $50 for a home service call plus $10 per 15 minutes of labour. Write an equation for calculating the total charges, C, in terms of the hours of labour, H. If you were to plot a graph of C vs. H, what would be the slope and C-inte

> Determine the x-intercept and y-intercept of each of the following equations. 1. 5x + 25y – 15 = 0 2. 0 = 63 – 7x + 21y 3. 13x = 35y 4. 11x + 110 = 22y

> Determine the r-intercept and s-intercept of each of the following equations. 1. 10r – 4s = 20 2. 3r + 4s –12 = 0 3. 15 – 3r = 20s 4. 7r = 9s

> Express decimal and percent equivalent forms to five-figure accuracy. -1 11 32

> Draw graph each of the equations. −2x + y = 0 over the range x = −3 to x = 6

> Comfort Shoes’ normal rate of markup on selling price is 45%. What rate of markdown can the store offer on a pair of shoes normally priced at $140 and still realize a 20% rate of markup on cost at the sale price?

> A bedroom suite costs Town & Country Furniture $5000 less 30% and 15%. The normal rate of markup on cost is 90%. The suite is marked down 30% in a mid-summer sale. What is the sale price?

> A retailer pays $81 to a wholesaler for an article. The retail price is set using a 40% rate of markup on selling price. To increase traffic to his store, the retailer marks the article down 20% during a sale. What is the sale price?

> In February, Long Lake Nursery ordered lawn fertilizer at $18.60 less 33 1 3 % , 12 1 2 % , and 5% per 20-kg bag. The fertilizer is normally priced to provide a 55% rate of markup on selling price. Operating (overhead) expenses are 30% of cost. To clear

> Hi-Lites Inc. purchased a ceiling light fixture for $480 less 40% and 25%. The fixture was then marked up by 120% of cost. Overhead expenses are 55% of cost. In an anniversary sale, Hi-Lites offered the fixture at 40% off. Determine: 1. The net cost of t

> Morgan Photography’s markup on its antique picture frames is 35% of selling price. Its cost on the medium-size antique frame is $115.70. For portrait photos shot by Morgan’s, this frame’s price is reduced to $133.50. What is Morgan’s operating profit or

> Elite Sports sells Kevlar-graphite shaft hockey sticks for $147 each. Elite’s wholesale cost is $98. For a spring clearance sale, the prices are marked down by 20%. If overhead expenses are 15% of the regular selling price, what is the unit operating pro

> Furniture Warehouse bought upright freezers for $1800 less 33 1 3 % and 5%. The store’s overhead works out to 30% of cost. The freezers are initially priced so that a profit of 16 2 3 % cost will be realized when a freezer is sold at a “15% off” price. 1

> 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 (reduced) operating profit if unit overhead expenses were

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

> 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 be purchased or leased if the firm’s cost of borrowin

> 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 that, if it is sold in a “20% off” sale, the store’s oper

> 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 in a “20% off” sale, the unit operating profit at the

> 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 30%. 1. What is the price of the mattress in a “20% o

> 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 the vacuum cleaner? 2. What was the profit or loss on

> 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 $45.90 for the store’s Boxing Day Blowout. 1. What was the

> 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 acquired a stain. What rate of markdown from the regular pric

> 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 of the store is prepared to accept a loss of one-quart

> A lawn mower retails for $349. The dealer’s overhead is 25% of cost, and normal operating profit is 16 2 3 % of cost. 1. What is the largest amount of markdown that will allow the dealer to break even? 2. What rate of markdown will price the lawn mower a

> Water Sports Ltd. pays $360 less 25% for a backyard above-ground pool kit. Overhead expenses are 16 2 3 % of the regular selling price, and the operating profit is 15% of the selling price. 1. What is the maximum rate of markdown the store can offer and

> Just Dresses sets its regular prices based on overhead expenses at 50% of cost and an operating profit of 40% of cost. What will be the operating profit (as a percent of cost) for dresses sold at a 20% discount?

> The label on a single-serving can of soup states that it contains 35% of an adult’s daily sodium intake. If the maximum recommended sodium intake is 2300 mg, how many grams of sodium need to be consumed daily through other foods?

> An item that cost $37.25 was marked up by 60% of cost. Later, the retail price was reduced to $41.72. If unit overhead expenses were 20% of cost, what was the unit operating profit at the reduced price?

> Poles Apart obtains Nitro T1 snowboards at a cost of $345 and marks them up by 35% of the selling price. For its annual spring sale, Poles Apart marks down prices by 25%. What is the sale price of the Nitro T1 snowboards?

> 1. Merchant A operates on a rate of markup on cost of 45%. If she later marks the price of a few items down to their cost in order to attract additional customers to the store, what rate of markdown can she advertise? 2. Merchant B operates on a 45% rate

> Digital Devices plans to stop carrying the Casio FC-100 calculator. It normally marks up the calculator from the $71.50 wholesale cost to the regular selling price of $99.95. 1. What is the normal rate of markup on selling price? 2. What rate of markdown

> Garden Centre purchases lawnmowers from a wholesaler for $249 and marks them up by 25% of selling price. At the end of the summer, a scratched floor-display mower’s price is reduced to 10% above cost. What percentage price reduction should the price tag

> Calculate the reduced price if an item costing $19.25 is marked up by 35% of the selling price and then marked down by 25%.

> The manager of a home and garden store buys patio furniture sets for $580 each and marks them up by 50% of cost. In late August, he clears out remaining inventory at a 30% markdown. Determine: 1. The clearance price. 2. The rate of markdown (from the reg

> An item was marked up from $24.99 to $49.98 before it was marked down to $24.99 and sold at cost. Determine: 1. The rate of markup on cost. 2. The rate of markdown.

> An item was marked up from $58.50 to $95.00, then later marked down by 30% during a spring sale. Determine: 1. The original rate of markup on selling price. 2. The price during the spring sale.

> The maximum amount an individual can contribute to her Registered Retirement Savings Plan (RRSP) for a year is set from time to time by the regulations of the Income Tax Act. For the year 2020, the maximum contribution is the lesser of $27,230 or 18% of

> Workwear Station uses a markup on cost of 60% to establish its retail prices. This pricing rule builds in a profit of 25% of cost. What rate of markdown can Workwear Station offer and just break even on the reduced price?

> Morgan’s Department Store mailed out 15%-off coupons for its 20th Anniversary Sale. The coupons may be used for any products in the store. For items already on sale, the coupon applies to the sale price. 1. What price would a coupon-holder pay for a beds

> Merchants C and D sell the same article at $69.95 and $64.95, respectively. They both advertise that they will match the price offered by any other store on any product that they stock. 1. What discount rate must C give to match D’s price marked down by

> Calculate the reduced selling price on an item that is marked down 55%, an amount equivalent to a discount of $358.

> Bargain Express advertises cookware sets at 40% off. Their ad claims, “You save $102.” What are the regular and reduced selling prices for the cookware sets?

> The sign on a rack of sport coats reads: “All prices already marked down 30%!” What is the regular selling price of a coat marked at: 1. $100? 2. $196.49?

> An item costing $185 was marked up by 50% of cost and subsequently marked down by $60 during a sale. Determine: 1. The regular selling price. 2. The rate of markdown.

> A men’s clothing store marks up suits by 75% of cost. This provides an operating profit of 15% of the selling price. If a suit’s cost to the store is $132, determine: 1. Its selling price. 2. The rate of markup on selling price. 3. The operating profit.

> The price structure in a store is such that, for every $100 of sales, $40 is the cost of the goods sold and $45 goes to overhead costs. For an item with a wholesale cost of $119, determine: 1. Its selling price. 2. The rate of markup on cost. 3. The rate

> A merchant prices his inventory to allow for operating expenses at 30% of selling price and an operating profit of 20% of selling price. If an item is priced at $49.98, determine: 1. The rate of markup on selling price. 2. Its cost. 3. The rate of markup

> Projects X and Y both require an initial investment of $100,000. Project X will generate an annual operating profit of $25,000 per year for six years. Project Y produces no profit in the first year, but will yield an annual profit of $25,000 for the seve

> A retailer prices her goods to cover operating expenses at 30% of cost and to generate a profit of 20% of cost. For an item she buys from her wholesaler at $49, determine: 1. Its selling price. 2. The rate of markup on cost. 3. The rate of markup on sell

> Unit operating expenses for an item costing $30 are estimated at 40% of cost, and the desired operating profit is 25% of cost. Determine: 1. The selling price. 2. The rate of markup on cost. 3. The rate of markup on selling price.

> Loblaws purchases raisins at $85.75 per 25-kg box and then sells them in its bulk foods department for $0.59 per 100 g. What are Loblaws’ rate of markup on cost and rate of markup on selling price of the raisins?

> Omega Restaurant buys Shiraz wine at $16.95 per bottle, and sells it to customers at $34.95 per bottle. Calculate Omega’s rate of markup on cost and rate of markup on selling price of the wine.

> 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 operating profit on a monitor that costs $345?

> 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 sells for $495?

> 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 which the wholesale cost is $4.65?

> 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 overhead of 20% of the selling price and to provide an op

> 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 the selling price. At what price should she sell the p

> 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 expenses work out on average to be 20% of the selling price?

> 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 machine if the payback requirement is: 1. Five years? 2

> 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 markup on selling price?

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

> 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 markup on cost?

> A retailer obtains a product at a unit cost of $51.30 and sells it for $79.90. Determine: 1. The rate of markup on cost. 2. The rate of markup on selling price.

> The rate of markup on the cost of a toaster selling at $54.95 is 45%. 1. What was the cost of the toaster to the retailer? 2. What is the rate of markup on selling price?

> Damsels clothing store orders a line of jeans at a suggested retail price of $58 less trade discounts of 30% and 7%. The manager intends to sell the jeans at the suggested retail price. If overhead expenses are 25% of the selling price: 1. What will be t

> Maritime Cellular purchases a Samsung smartphone model for $395 less trade discounts of 20% and 10%. Maritime’s overhead expenses are $59 per unit. 1. What should be the selling price to generate a profit of $40 per phone? 2. What is the rate of markup o

> The Annapolis Rotary Club sells hot dogs for $1.95 each at the annual Annapolis Fall Fair. The Rotary Club buys wieners at $3.95 per package of 10 wieners, and hot dog buns at $2.90 per dozen. It costs $78 for enough condiments for 1000 hot dogs. What ar

> Just Desserts buys cheesecakes from General Bakeries at $33.60 per cheesecake. It then cuts each cheesecake into 16 slices and sells them to customers at $6.50 per slice. Calculate the rate of markup on cost and the rate of markup on selling price.

> The price of tools is set by a hardware store to cover operating expenses at 40% of cost, and to generate an operating profit of 25% of cost. What is the rate of markup on selling price for a rotary saw selling for $129?

> The expected profits from a $52,000 investment are $8000 in Year 1, $12,000 in each of Years 2 to 5, and $6000 in each of Years 6 and 7. 1. What is the investment’s payback period? 2. If the firm’s required payback period is four years, will it make the

> Bath ’n Bedroom sets its prices to allow for overhead expenses that average 50% of unit cost and a normal profit of 30% of cost. For towel sets priced at $39.89, determine: 1. The wholesale cost. 2. The rate of markup on selling price.

> The markup on desserts in a restaurant is 70% of the menu price. The restaurant is adding key lime pie to its dessert list. The cost to the restaurant works out to $1.25 per slice. Determine: 1. The menu price of a slice of pie. 2. The rate of markup on

> The markup on greeting cards in a drug store is 65% of the selling price. For a card priced at $4.95, determine: 1. Its cost. 2. The rate of markup on cost.

> A grocery store prices fresh produce at twice its cost to the store. Determine: 1. The rate of markup on cost. 2. The rate of markup on selling price.

> An item that costs a store $152.50 is marked up by $47.45. Determine: 1. The rate of markup on cost. 2. The rate of markup on selling price.

> On June 3, Josh made a payment of $500 on an invoice for $1283.50, dated May 25. The terms of payment were 3/10, n/30. What amount was credited to Josh’s account?

> The terms of payment on an invoice for $2835.49 are 2/15, n/45. The balance owed after a payment within the discount period is $1135.49. What was the amount of the payment?

> An invoice for $2365.00 has terms 2/10, n/30. The amount credited on a payment made within the discount period was $1365.00. What was the amount of the payment?

> White’s Photography received an e-invoice from Fuji Canada dated February 27 of a leap year. The amount of the invoice is $2896.77, with terms 2 1 2 /10, 1/30, n/60. 1. What is the last date on which White’s is eligible for the 2 1 2 % discount? 2. What

> On May 25, Morris Hardware received an invoice from Precision Tools Inc. for $5076.64. The invoice was dated May 22 and offered terms of 2/10, 1/20, n/30. What payment will settle the invoice on: 1. June 1? 2. June 2? 3. June 5?

> Investment proposals A and B require initial investments of $45,000 and $35,000, respectively. Both have an economic life of four years with no residual value. Their expected profits are as follows: If the firm’s cost of capital is 7%,

> On March 26, Silke received an invoice in the amount of $5445, dated March 23, with terms 3/10, 1 1 2 /20, n/60. What payment on April 13 will settle the invoice?

> On June 29, Josef received an invoice for $815.49, dated June 27. If the terms of the invoice are 2/10, 1/20, n/60, what amount is required on July 7 to pay the invoice in full?

> An invoice for $2956.60, dated February 2, has terms 2/15, 1/30, n/90. What three equal payments on February 17, March 2, and May 2 will settle the account?

> Sutton Trucking made two equal payments, on June 25 and July 15, on an invoice for $6350 dated June 15 with terms 3/10, 1/30, n/60. The payments reduced the balance owed on the invoice to $1043.33. What was the amount of each payment?

> On August 6, A&B Construction has three outstanding invoices payable to Excel Builder’s Supply. Invoice 535, dated July 16, is for $3228.56; Invoice 598, dated July 24, is for $2945.31; and Invoice 678, dated August 3, is for $6217.69. All invoices have

> Peak Roofing sent Jensen Builders an invoice dated July 12 for $5400 with terms 3/10, 1 1 2 /20, n/45. Jensen made a payment of $2000 on July 20, and a second payment on August 1 that reduced the balance owed to $1000. What was the size of the second pay