Questions from Business Mathematics

Q: A payment of $500 on an invoice for $887 reduced

A payment of $500 on an invoice for $887 reduced the balance owed to $378.09. What cash discount rate was allowed on the $500 payment?

Q: In three successive years the price of the common shares of Bedrock

In three successive years the price of the common shares of Bedrock Resources Ltd. fell 40%, 60%, and 70%, ending the third year at 50 cents. 1. What was the share price at the beginning of the three-...

Q: The evening news reports that the S&P/TSX Index

The evening news reports that the S&P/TSX Index dropped 0.9% on the day to close at 13,123 points. How many points did the index fall?

Q: Rearrange N = L(1 – d), to isolate d

Rearrange N = L(1 – d), to isolate d on the left side.

Q: If a grocery store’s rate of markup on the selling price of

If a grocery store’s rate of markup on the selling price of tomatoes is 55%, what is the rate of markup on the cost of tomatoes?

Q: Omega Restaurant received an invoice dated July 22 from Industrial Kitchen Equipment

Omega Restaurant received an invoice dated July 22 from Industrial Kitchen Equipment for $3691, with terms 2/10, 1/20, n/45. Omega made payments of $1100 on August 1, $900 on August 10, and $800 on Au...

Q: What is the cost of an item that sells for $87

What is the cost of an item that sells for $87.49 if: 1. The rate of markup on cost is 30%? 2. The rate of markup on selling price is 30%?

Q: What total amount must be paid on May 4 to settle invoices

What total amount must be paid on May 4 to settle invoices dated April 20 for $650, April 24 for $790, and April 30 for $465, all with terms 1 1 2 /10, n/30?

Q: Bosley’s Pet Foods buys dog kibble for $19.50 per

Bosley’s Pet Foods buys dog kibble for $19.50 per bag, less 40%. The store’s overhead is 33 1 3 % of the selling price, and the desired profit is 10% of the selling price. 1. At what price per bag sho...

Q: A trade discount of 22.5% from the suggested selling

A trade discount of 22.5% from the suggested selling price for a line of personal computers translates to a $337.05 discount. What net price will a retailer pay?