You are shopping for a new printer to take back to college with you. You decide on the PIXMA iP100 due to its superior photo print quality and are now looking for the best price. Different stores have different deals, plus the manufacturer was offering a $30 mail-in post-purchase rebate. You determined from the Canon website that the MSRP for the printer was $299 but one online store had it listed for $279. That price included free shipping, which you figured was at least a $20 savings. In addition, the seller included a USB cord necessary to connect the printer to your laptop, which was priced at $25 on Canon's website. While the online store paid for shipping, there was a $5 fee to insure the printer during shipping. The online store did take trade-ins of old printers, but you didn't have any used printers to trade anyway. Finally, the online store offered a special holiday coupon on this printer that was good for an additional $10 off the price of the printer.
1. What was your final price for the printer?
a) $244
b) $219
c) $209
2. Assuming that the store's cost for the printer and the USB cord was 50% of its list price and that shipping was set at its cost, what were the seller's costs for this transaction?
a) $164.50
b) $152
c) $172
3. How much profit did the online store make on the sale of this printer?
a) $102
b) $82
c) $92
4. If the online store charged $209 for the printer, what percentage discount would you have received from MSRP?
a) 30%
b) 25%
c) 20%
25. For most products, decreases in price will _______
a) Value.
b) Have no effect on
c) Increase
d) Decrease