QUA0002 - Assignment #1 (20%) This assignment is worth 20 Marks, answer all questions and show your work in solving the problems. 1. A hitch and trailer listed at $2149.00 has a net price of $1360.00. What is the rate of discount? Give your answer in percentage rounded to nearest 100th. (1) 2. Rina Boutique advertises a discount of $54.72 on sandals. If the discount is 33.5%, for how much were the sandals sold? Round to nearest 100th. (1) 3. A 14% discount on a dryer that Gell-Mann purchased, amounted to $70.00. Calculate the net price. (1) 4. A microscope is listed for $477.00 less 19 2/3 %, 9%, 7.7%. What is the equivalent single rate of discount that was allowed? Round to nearest 100th. (1) 5. Lamb Goldsmith sells watches for $840.00 less 12.55%. Its competitors across the street offer the same type of watch for $860.00 less 13.25%, 11.5%. What additional rate of discount (percentage) must Lamb offer to meet the competitor's price? Round to nearest 100th. (1) 6. An invoice for $6200.00, dated May 28, 3/10, 1/20, n/60, was received on May 30. What payment must be made on June 5 to reduce the debt to $4760.00? Approximate to the nearest 100th. (1) 7. What amount will reduce the amount due on an invoice of $9410.25 by $842.00 if the terms of the invoice are 5/ 10, n/30 and the payment was made during the discount period? Approximate to nearest 100th. (1) 8. On 19 June, an invoice dated 18 June for $6250.00 less 17%, 16%, terms 5/10, n/30, was received by Heisenberg Distributors. What is the amount due if the invoice is paid in