The Mathematics of Money

b. What markdown percent should he have used? Dishonest Dave’s Discount Den is planning on advertising that “everything in the ...

Copyright © 2008, The McGraw-Hill Companies, Inc. 8.1 Markup and Markdown 343 c. At “1% over invoice,” what is the percent marku ...

344 Chapter 8 Mathematics of Pricing Example 8.2.1 Sally’s Fashion Paradise sells a dress that cost $45 for $65. Find the gross ...

Copyright © 2008, The McGraw-Hill Companies, Inc. First approach: As a percent of sales, the expenses were $57,950/$153,670
37 ...

in pretty much the same was as markup based on cost. There is a mathematical challenge here, though. If we know the item’s cost, ...

EXERCISES 8.2 Percents in fi nal answers should be rounded to two decimal places. A. Gross Profi t Margin Complete the followin ...

A used car dealer had sales of $3,588,034 in 2006. The cars they sold cost them $2,803,111. Calculate the dealer’s gross profi ...

C. Markup Based on Selling Price Complete the following table by fi lling in the retail price based on the given costs and gros ...

OldTyme Digital Sales prices laptop computers with a 18% markup based on selling price. Determine the retail price and gross pr ...

Copyright © 2008, The McGraw-Hill Companies, Inc. 8.3 Series and Trade Discounts8.1 Markup and Markdown 351351 Suppose that a p ...

352 Chapter 8 Mathematics of Pricing Even though it is more mathematically convenient to multiply by 75%, there are sometimes re ...

Copyright © 2008, The McGraw-Hill Companies, Inc. For convenience, we will set this up as a table, similar to the invoice shown ...

354 Chapter 8 Mathematics of Pricing $6.63
LP(0.725) LP
$9.14 Markdown and trade discounts are not, however, entirely the sa ...

Copyright © 2008, The McGraw-Hill Companies, Inc. Once we have calculated the discounted price, we could also fi nd the single e ...

356 Chapter 8 Mathematics of Pricing The period of time allowed before the payment is considered late may also be indicated. “2/ ...

Copyright © 2008, The McGraw-Hill Companies, Inc. Example 8.3.11 Roy’s Appliance Hut placed an order for 10 refrigerators that l ...

358 Chapter 8 Mathematics of Pricing Complete the following table by calculating the total net amount for each order, given the ...

Copyright © 2008, The McGraw-Hill Companies, Inc. b. What is the grocer’s markup based on cost for this product? A new car list ...

360 Chapter 8 Mathematics of Pricing An invoice totaling $939.06 (excluding shipping charges) dated September 30, 2008, is mark ...

Copyright © 2008, The McGraw-Hill Companies, Inc. Using the information included, calculate the missing amounts from the total ...