Posted: March 2nd, 2014

. What is the net price of the car?

Chapter 7

22. A model NASCAR race car lists for $79.99 with a trade discount of 40%. What is the net price of the car?

24. Levin Furniture buys a living room set with a $4,000 list price and a 55% trade discount. Freight (FOB shipping point) of $50 is not part of the list price. What is the delivered price (including freight) of the living room set, assuming a cash discount of 2/10, n/30, ROG? The invoice had an April 8 date. Levin received the goods on April 19 and paid the invoice on April 25.

30. Royal Furniture bought a sofa for $800. The sofa had a $1,400 list price. What was the trade discount rate Royal received? Round to the nearest hundredth percent.

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46. Verizon offers to sell cellular phones listing for $99.99 with a chain discount of 15/10/5. Cellular Company offers to sell its cellular phones that list at $102.99 with a chain discount of 25/5. If Irene is to buy 6 phones, how much could she save if she buys from the lower-priced company?

Chapter 8

22. Macy’s was selling Calvin Klein jean shirts that were originally priced at $58.00 for $8.70. (a) What was the amount of the markdown? (b) Based on the selling price, what is the percent markdown?

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