Question 1

A company received an invoice for

$1524.27

dated

April29

with terms

7/15,

3/30,

n/60.

(a) If the invoice is paid on

May7,

how much is to be paid?

(b) If the invoice is paid on

May27,

how much is to be paid?

(c) If the invoice is paid on

June25,

how much is to be paid?

Question 2

What amount will reduce the amount due on an invoice of

$3056.58

by

$1080.47

if the terms of the invoice are

4/10,

n/45

and the payment was made during the discount period?

The payment amount is ___

(Round to the nearest cent as needed.)

Question 3

Guiseppe's buys supplies to make pizzas at a cost of

$4.32.

Operating expenses of the business are

166%

of the cost and the profit he makes is

165%

of cost. What is the regular selling price of each pizza?

The regular selling price of each pizza is ____

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Question 4

A sports store purchased tennis racquets for

$70.06

less

44%

for purchasing more than 100 items, and a further

26%

was reduced for purchasing the racquets in October. The racquets were sold to customers for $69.02.

(a) What is the cost of each racquet?

(b) What is the markup as a percent of cost?

(c) What is the markup as a percent of selling price?

Question 5

A cafe latte was offered for sale at $3.09 at West Store. At East Store, the regular selling price of a similar cafelatte was $3.97.

What rate of markdown would East Store have to offer to sell the cafelatte at the same price as West Store?