L1 - 5.1 Trade Discounts Practice PDF

Preview

Summary

L1 - 5.1 Trade Discounts Practice...

Description

MATH 1052

L1 - 5.1 Trade Discounts

Unit 3

Practice Questions 1. A new model of golf shoes are listed at $110 per pair. During a sale, a trade discount of 14% was offered. a) What is the amount of the trade discount offered per pair of shoes? b) What is the net price per pair of shoes? 2. The net price of a lawn mower is $197.60 after a trade discount of 35%. What is the list price of the item, and the amount of the trade discount? 3. The list price of canned foods at a wholesaler’s outlet is $50, and the net price is $46. What is the trade discount rate? 4. An item is bought after a trade discount of 30%, and the trade disount received was $120. Calculate the list price of the item. 5. Towards the end of winter, a distributor is selling leather jackets that were listed for $600 with the following three discounts: 15%, 10%, 5%. a) What is the net price of the leather jacket? b) What is the amount of the trade discount? 6. What is the single equivalent discount rate that represents a series of trade discounts of 50%, 40%, and 10%? 7. A retail store lists a jacket for $290, less 18%. A department store lists the same jacket for $265, less 12%. a) Which store is offering the item for a cheaper price, and by how much? b) What additional trade discount rate must the store with the higher price provide to match the lower price?

Answers: 1.a) $15.40

b) $94.60

2. $304, $106.40 3. 8% 4. $400 5.a) $436.05

b) $163.95

6. 73% 7.a) department store by $4.60

b) 1.93%...