Business mathematics case study and basic problems

1. Complete “Case Study: George Foreman” (p. 299).

2. Complete “Case Study: Markdown: Reducing Prices to Move Merchandise” (p. 340).

60. Explain the difference between a single trade discount and a series or chain trade discount.

61. Explain what a complement (with respect to 1 or 100,) is. Give an example. (See Objective 7.)

62. Using complements, explain how to find the net cost equivalent of a 25>20 series discount. Explain why a 25>10>10 series discount is not the same as a 25>20 discount. (See Objective 7.)

19. FINDING DISCOUNT DATES An invoice is dated January 18 and offers terms of 6>10, 4>20, 1>30, n>50. Find (a) the three final discount dates and (b) the net payment date.

11. It cost a singer-songwriter $47,200 for all of the expenses to engineer, record, mix, and promote a new music disc. The cost also included the manufacturing of 2500 discs. Assume each disc sells for $25. Find (a) the markup in dollars, (b) the markup as a percent of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to the nearest of a percent.

15. REI offers a men’s soft-shell waterproof jacket for $199.95. If the jackets cost $1943.52 (a) per dozen, find (a) the markup, (b) the percent of markup on selling price, and (c) the per- cent of markup on cost. Round to the nearest tenth of a percent.

16. A house originally priced at $138,421 is marked down to $ 120,300. Find the percent of 16. markdown on the original price.