QRB501 Week 3 Mathematics of Buying and Selling Exercises
Purpose of Assignment
The purpose of the assignment is to provide students an opportunity to use Microsoft Excel® to practice the concepts of trade discounts, invoicing, markups, and markdowns.
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Resources: Mathematics of Buying and Selling Exercises Excel® Template, Excel® 2016 Essential Training
Save the Mathematics of Buying and Selling Exercises Excel® Template to your computer.
Read the instructions on the first tab.
Complete the ten exercises located in the template.
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- Nordstrom plans to mark up a Brahmin Croc Embossed Laptop Case $130.50 over cost, which is a 58% markup based on the cost. Find the cost, the selling price, and the rate of the selling price.
- Ronin Copies marks up signs that sell for $49. The markup is 80% based on the selling price. What is the cost and the amount of markup of a sign?
- Lowe’s reduced a Maytag dishwasher 12.563%. If the dishwasher was priced at $398, find the amount of markdown and the reduced price.
- Fresh Food Market pays $0.25 per pound for 300 pounds of apples. On average, 5% of the apples will spoil before they sell. Find the selling price per pound needed to obtain a 180% markup on cost.
- Find the net price of the PC software SystemWorks that lists for $70 and has a discount rate of 12%. Use the system of complements.
- Dylan Murphy currently receives a trade discount series of 5/10/10 on merchandise purchased from a furniture company. He is negotiating with another furniture manufacturer to purchase similar furniture of the same quality. The first company lists a dining room table and six chairs for $1,899. The other company lists a similar set for $1,800 and a trade discount series of 5/5/10. Which deal is better?
- com buys one model of tankless water heater that has a list price of $395. The trade discount is 18%. What is the trade discount and net price of the heater?
- Federated Department Stores received an invoice dated April 18 that shows a billing for $3,848.96 with terms 2/10, 1/15, n/30. Find the cash discount and net amount if the invoice is paid within 15 days but after 10 days.
- Office Max purchased office furniture in the amount of $89,517 and was invoiced with terms of 2/10, n/30. Cash strapped at the time, Office Max decided to make a partial payment of $50,000 within 10 days. How much should be credited to its account? What is the outstanding balance?
- Curves Fitness Center received an invoice for $3,097.15 that was dated September 8 with terms of 3/15 ROG. The goods being invoiced arrived on September 12. By what date must the invoice be paid to get the cash discount? How much should be paid?
Course: QRB501 Quantitative Reasoning For Business
School: University of Phoenix
- : 18/09/2017
- : 25