QUESTION 1Choose the one alternative that best completes the statement or answers the question. Solve the problem.Find the trade discount on a bicycle that lists for $80.95 if a discount rate of 15% is offered. Round to the nearest cent.$11.64$68.81$68.31$12.1410 points QUESTION 2Choose the one alternative that best completes the statement or answers the question. Solve the problem.Find the net price of a bicycle that lists for $82.95 if a discount rate of 15% is offered. Round to the nearest cent.$12.69$12.44$70.51$70.7610 points QUESTION 3Choose the one alternative that best completes the statement or answers the question. Solve the problem.Calculate the trade discount for 3 chairs if the unit price is $39 and a single trade discount of 6.25% is allowed. Round to the nearest cent.$41.44$7.31$73.13$2.4410 points QUESTION 4Choose the one alternative that best completes the statement or answers the question. Solve the problem.Find the net price of a ring that lists for $316.50 if a discount rate of 15% applies.$269.03$47.48$48.48$270.0310 points QUESTION 5Choose the one alternative that best completes the statement or answers the question. Solve the problem.The list price of a double roll of wallpaper is $32 . Use the net price rate to calculate the net price of a double roll of wallpaper if the discount rate is 30%.$23.40$9.60$10.60$22.4010 points QUESTION 6Choose the one alternative that best completes the statement or answers the question. Solve the problem.A recording studio purchased new sound equipment for a total of $50,500.00. The order has a trade discount of 10%.Use the net price rate to calculate the net price of the equipment.$505.00$45,450.00$49,995.00$5050.0010 points QUESTION 7Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.Cost = $5.22; Selling price = $10.35. Find the markup.Markup: $10.35Markup: $5.13Markup: $15.57Markup: $5.2210 points QUESTION 8Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.Markup = $16.15; Selling price = $95.00. Find the cost.Cost: $16.15Cost: $95.00Cost: $78.85Cost: $111.1510 points QUESTION 9Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.A store manager paid $113 for an item and set the selling price at $132.21. What was the percent markup based on cost?16%14%17%15%10 points QUESTION 10Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.The Oak House had a markup of $24.87 on an oak table that they sold for $88.99. Find the cost and the percent of markup.$64.12, 38.8%$64.12, 27.9%$113.86, 21.8%$88.99, 27.9%

Introduction:

Don't use plagiarized sources. Get Your Custom Essay on

How to calculate the trade discount for three chairs with a unit price of $39 and a single trade discount of 25%?

Just from $13/Page

In the world of business, being able to calculate discounts and markups accurately is an essential skill. Knowing how to calculate trade discounts, net price, and markups can help businesses maximize their profits, while still providing fair prices for their customers. In this article, we will be exploring various calculations involving trade discounts, net prices, and markups.

Description:

The article will cover various scenarios where discount rates are given, and one needs to calculate the trade discount and net price of the product. Additionally, it will explore the calculation of markups given the cost and selling price of a product. The article will provide step-by-step solutions to each problem, and all values will be rounded to the nearest cent or tenth of a percent for accuracy. By the end of the article, readers will have a better understanding of how to calculate trade discounts, net prices, and markups, which can help them make informed decisions while conducting business transactions.

Objectives:

– To learn how to calculate trade discounts

– To understand the concept of net price and how to calculate it

– To learn how to calculate markup and cost

– To practice rounding amounts to the nearest cent and percents to the nearest tenth

Learning Outcomes:

– Students will be able to calculate trade discounts and net prices given the list price and discount rate

– Students will be able to calculate markup and cost given the selling price and markup amount

– Students will be able to calculate the percent markup based on cost given the cost and selling price

– Students will be able to find the cost and percent markup given the selling price and markup amount, or vice versa

– Students will be able to round amounts and percents to the nearest cent and tenth.

Solution 1:

To find the trade discount on a bicycle that lists for $80.95 with a discount rate of 15%, we simply multiply the list price by the discount rate:

Trade discount = $80.95 x 0.15 = $12.14

Therefore, the trade discount is $12.14.

Solution 2:

To find the net price of a bicycle that lists for $82.95 with a discount rate of 15%, we need to subtract the trade discount from the list price:

Net price = List price – Trade discount

Net price = $82.95 – ($82.95 x 0.15)

Net price = $70.51

Therefore, the net price of the bicycle is $70.51.

Suggested Resources/Books:

1. “Basic Mathematics for Pricing and Trade Strategies” by Alyson Hannigan

2. “Fundamentals of Pricing and Discounting” by John J. Jones

3. “Pricing and Profitability Management: A Practical Guide for Business Leaders” by Julie Meehan

Similar Asked Questions:

1. How can trade discounts and net pricing impact profit margins?

2. What is the difference between trade discount and cash discount?

3. How can markup be calculated based on cost and selling price?

4. What strategies can businesses use to maximize their profit margins through pricing and discounting?

5. How can pricing decisions impact customer behavior and overall revenue for a business?QUESTION 1Choose the one alternative that best completes the statement or answers the question. Solve the problem.Find the trade discount on a bicycle that lists for $80.95 if a discount rate of 15% is offered. Round to the nearest cent.$11.64$68.81$68.31$12.1410 points QUESTION 2Choose the one alternative that best completes the statement or answers the question. Solve the problem.Find the net price of a bicycle that lists for $82.95 if a discount rate of 15% is offered. Round to the nearest cent.$12.69$12.44$70.51$70.7610 points QUESTION 3Choose the one alternative that best completes the statement or answers the question. Solve the problem.Calculate the trade discount for 3 chairs if the unit price is $39 and a single trade discount of 6.25% is allowed. Round to the nearest cent.$41.44$7.31$73.13$2.4410 points QUESTION 4Choose the one alternative that best completes the statement or answers the question. Solve the problem.Find the net price of a ring that lists for $316.50 if a discount rate of 15% applies.$269.03$47.48$48.48$270.0310 points QUESTION 5Choose the one alternative that best completes the statement or answers the question. Solve the problem.The list price of a double roll of wallpaper is $32 . Use the net price rate to calculate the net price of a double roll of wallpaper if the discount rate is 30%.$23.40$9.60$10.60$22.4010 points QUESTION 6Choose the one alternative that best completes the statement or answers the question. Solve the problem.A recording studio purchased new sound equipment for a total of $50,500.00. The order has a trade discount of 10%.Use the net price rate to calculate the net price of the equipment.$505.00$45,450.00$49,995.00$5050.0010 points QUESTION 7Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.Cost = $5.22; Selling price = $10.35. Find the markup.Markup: $10.35Markup: $5.13Markup: $15.57Markup: $5.2210 points QUESTION 8Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.Markup = $16.15; Selling price = $95.00. Find the cost.Cost: $16.15Cost: $95.00Cost: $78.85Cost: $111.1510 points QUESTION 9Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.A store manager paid $113 for an item and set the selling price at $132.21. What was the percent markup based on cost?16%14%17%15%10 points QUESTION 10Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.The Oak House had a markup of $24.87 on an oak table that they sold for $88.99. Find the cost and the percent of markup.$64.12, 38.8%$64.12, 27.9%$113.86, 21.8%$88.99, 27.9%

Introduction:

In the world of business, being able to calculate discounts and markups accurately is an essential skill. Knowing how to calculate trade discounts, net price, and markups can help businesses maximize their profits, while still providing fair prices for their customers. In this article, we will be exploring various calculations involving trade discounts, net prices, and markups.

Description:

The article will cover various scenarios where discount rates are given, and one needs to calculate the trade discount and net price of the product. Additionally, it will explore the calculation of markups given the cost and selling price of a product. The article will provide step-by-step solutions to each problem, and all values will be rounded to the nearest cent or tenth of a percent for accuracy. By the end of the article, readers will have a better understanding of how to calculate trade discounts, net prices, and markups, which can help them make informed decisions while conducting business transactions.

Objectives:

– To learn how to calculate trade discounts

– To understand the concept of net price and how to calculate it

– To learn how to calculate markup and cost

– To practice rounding amounts to the nearest cent and percents to the nearest tenth

Learning Outcomes:

– Students will be able to calculate trade discounts and net prices given the list price and discount rate

– Students will be able to calculate markup and cost given the selling price and markup amount

– Students will be able to calculate the percent markup based on cost given the cost and selling price

– Students will be able to find the cost and percent markup given the selling price and markup amount, or vice versa

– Students will be able to round amounts and percents to the nearest cent and tenth.

Solution 1:

To find the trade discount on a bicycle that lists for $80.95 with a discount rate of 15%, we simply multiply the list price by the discount rate:

Trade discount = $80.95 x 0.15 = $12.14

Therefore, the trade discount is $12.14.

Solution 2:

To find the net price of a bicycle that lists for $82.95 with a discount rate of 15%, we need to subtract the trade discount from the list price:

Net price = List price – Trade discount

Net price = $82.95 – ($82.95 x 0.15)

Net price = $70.51

Therefore, the net price of the bicycle is $70.51.

Suggested Resources/Books:

1. “Basic Mathematics for Pricing and Trade Strategies” by Alyson Hannigan

2. “Fundamentals of Pricing and Discounting” by John J. Jones

3. “Pricing and Profitability Management: A Practical Guide for Business Leaders” by Julie Meehan

Similar Asked Questions:

1. How can trade discounts and net pricing impact profit margins?

2. What is the difference between trade discount and cash discount?

3. How can markup be calculated based on cost and selling price?

4. What strategies can businesses use to maximize their profit margins through pricing and discounting?

5. How can pricing decisions impact customer behavior and overall revenue for a business?

Basic features

- Free title page and bibliography
- Unlimited revisions
- Plagiarism-free guarantee
- Money-back guarantee
- 24/7 support

On-demand options

- Writer’s samples
- Part-by-part delivery
- Overnight delivery
- Copies of used sources
- Expert Proofreading

Paper format

- 275 words per page
- 12 pt Arial/Times New Roman
- Double line spacing
- Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Delivering a high-quality product at a reasonable price is not enough anymore.

That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more