7. Solve the problem. Round to the nearest cent. The list price of 2 dozen blank

Question

7. Solve the problem. Round to the nearest cent.

The list price of 2 dozen blank cassettes is $60. Find the dealer's cost per cassette if a series discount of 5/15 is offered.

a. 2.02

b. 0.48

c. 2.00

d. 48.45

8. Solve for the amount of discount and amount due.

Invoice amt: $293.41
Invoice date: Sept 13
Terms: 3/11 EOM
Goods rec'd: Sept 16
Date paid: Oct 9

Amount of discount: $8.50; amount due: $282.41

Amount of discount: $0; amount due: $293.41

Amount of discount: $8.80; amount due: $284.61

Amount of discount: $32.28; amount due: $261.13

9. Solve the problem. Round rates to the nearest tenth of a percent and dollar amounts to the nearest cent.

A local dealer sells baseballs for $25 each. If $3.92 is the markup, what is the cost and the markup on cost?

$28.92, 13.6%

$25.00, 15.7%

$21.08, 18.6%

$21.08, 84.3%

10. Using complements (with respect to 1) of the single discounts, find the net cost equivalent for the following discount.

5/5

a. 0.0975

b. 0.1

c. 0.025

d. 0.9025

Explanation / Answer

list price of 2 dozen cassette is 60

therefore list price of a casette is : 60/24 = 2.5

discount offered per casette is = 5, 15 in series

therefore cost =2.5 *(95/100)*(85/100)

=>2.018

rounding to nearest cent = 2.02

therefore a) is the answer.

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