Questions from Business Mathematics

Q: A uranium mining town reported population declines of 3.2%,

A uranium mining town reported population declines of 3.2%, 5.2%, and 4.7% for the three successive five-year periods 1985–89, 1990–94, and 1995–99. If the population at the end of 1999 was 9320: 1. H...

Q: The Pro Shop at Sunny Lake Golf and Country Club prices its

The Pro Shop at Sunny Lake Golf and Country Club prices its golf club sets to allow for overhead of 33 1 3 % of cost and profit of 20% of cost. 1. What is the regular selling price as a percentage of...

Q: Central Ski and Cycle purchased ski boots for $360 per pair

Central Ski and Cycle purchased ski boots for $360 per pair less 33 1 3 % and 10%. The regular rate of markup on selling price of the boots is 40%. The store’s overhead is 22% of the selling price. Du...

Q: Sunrise Building Supply obtains 4-ft by 8-ft sheets

Sunrise Building Supply obtains 4-ft by 8-ft sheets of wallboard from Canadian Gypsum at $30 per sheet less 30% and 10%. The price is to be set to cover Sunrise’s overhead of 20% of the selling price...

Q: To manufacture a new product, a company must immediately invest $

To manufacture a new product, a company must immediately invest $375,000 in new equipment. At the end of Years 3 and 5, there will have to be a major overhaul of the equipment at a cost of $50,000 on...

Q: Rearrange NI = (CM)X – FC, to isolate

Rearrange NI = (CM)X – FC, to isolate CM on the left side.

Q: Nelson Hardware ordered a shipment of gas barbecues at a suggested retail

Nelson Hardware ordered a shipment of gas barbecues at a suggested retail price of $459 less trade discounts of 25% and 10%. The manager intends to sell the barbecues at the suggested retail price. If...

Q: Ski ’n Cycle purchased Elan 200 skis for $492 per pair

Ski ’n Cycle purchased Elan 200 skis for $492 per pair and priced them to give a 40% rate of markup on selling price. When this model was discontinued, the store marked down its remaining stock by 30%...

Q: A pharmacy marked up its sunscreen to provide for overhead expenses of

A pharmacy marked up its sunscreen to provide for overhead expenses of 40% of cost and a profit of 45% of cost. At the end of the summer, what rate of markdown can the pharmacy apply to the remaining...

Q: A snow blower retails for $489. The dealer’s overhead is

A snow blower retails for $489. The dealer’s overhead is 20% 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 eve...