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1 | |
The net price of a chair after a discount of 65% is $138. What is the list price? |
| | A) | $89.70 |
| | B) | $394.29 |
| | C) | $256.29 |
| | D) | $212.31 |
| | E) | $48.30 |
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2 | |
If the TSE 300 index dropped 1.5% on the day to close at 8625 points, how many points did the index fall on the day? |
| | A) | 129.4 |
| | B) | 133.8 |
| | C) | 131.3 |
| | D) | 127.4 |
| | E) | 125.6 |
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3 | |
A wholesaler lists an item for $65.00 less 25%. What additional discount must be offered to get the net price down to $40.00? |
| | A) | 21.95% |
| | B) | 15.00% |
| | C) | 17.95% |
| | D) | 23.08% |
| | E) | 37.50% |
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4 | |
What total amount must be paid on August 5 to settle invoices dated July 20 for $1000, July 25 for $2000, and Aug 1 for $3000, all with terms 3/10, n/30? |
| | A) | $5910 |
| | B) | $4850 |
| | C) | $5850 |
| | D) | $5820 |
| | E) | $6000 |
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5 | |
ACME STORES bought ten tables for $200.00 each less 20%. The store's overhead is 30% of cost and the required profit is 20% of cost. For what amount should each table be sold? |
| | A) | $360.00 |
| | B) | $400.00 |
| | C) | $270.00 |
| | D) | $240.00 |
| | E) | $300.00 |
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6 | |
A retailer made a markup of $29.95 on an item. Her gross profit margin was 20%. What did the retailer pay for the item? |
| | A) | $179.70 |
| | B) | $187.19 |
| | C) | $149.75 |
| | D) | $163.00 |
| | E) | $119.80 |
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7 | |
A pair of boots with a rate of markup of 25% gave the retailer a markup of $13.75. What was the cost? |
| | A) | $18.33 |
| | B) | $55.00 |
| | C) | $68.75 |
| | D) | $32.08 |
| | E) | $33.75 |
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8 | |
A retailer's markup on an item is $29.95. Her gross profit margin is 20%. What is the rate of markup? |
| | A) | 16.67% |
| | B) | 16.00% |
| | C) | 19.97% |
| | D) | 20.00% |
| | E) | 25.00% |
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9 | |
A retailer marked up a sweater from its $33.00 cost to $61.00. What was the gross profit margin? |
| | A) | 54.1% |
| | B) | 45.9% |
| | C) | 17.9% |
| | D) | 84.8% |
| | E) | 34.5% |
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10 | |
A shirt is marked down 35% to a reduced price of $19.95. What is the regular selling price? |
| | A) | $30.69 |
| | B) | $57.00 |
| | C) | $26.93 |
| | D) | $32.92 |
| | E) | $34.64 |
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11 | |
A manufacturer offers a regular discount of 30%, a volume discount of 10% for an order of at least 50 items, and an early-order discount of 2% for orders placed before September 1. If a purchaser is eligible for all three discounts, what is the net price on a suggested retail price totalling $6780? |
| | A) | $2847.60 |
| | B) | $2594.03 |
| | C) | $3932.40 |
| | D) | $4185.97 |
| | E) | $4068.00 |
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12 | |
Referring to the previous question, what single trade discount rate would be equivalent to the three trade discounts? |
| | A) | 61.74% |
| | B) | 38.26% |
| | C) | 42.00% |
| | D) | 58.00% |
| | E) | none of the above |
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13 | |
Referring to the previous question, if the net price after all three discounts is $3550, what is the suggested retail price? |
| | A) | $4908.23 |
| | B) | $5741.77 |
| | C) | $5749.92 |
| | D) | $6013.75 |
| | E) | $9278.62 |
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14 | |
A retailer purchased 500 hats at $20 each. He sold 300 at the regular price of $50, 150 at 20% off the regular price, and the remaining hats were cleared out at $15 each. The retailer's overhead is 30% of cost. What is the break-even price for each hat? |
| | A) | $35 |
| | B) | $25 |
| | C) | $20 |
| | D) | $6 |
| | E) | $26 |
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15 | |
Referring to the previous question, what was the total operating profit (loss) on the sale of all hats? |
| | A) | $5225 |
| | B) | $8750 |
| | C) | $11,750 |
| | D) | $6525 |
| | E) | $3000 |
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2003 McGraw-Hill Higher Education