^[1] The executor of Sam Jackson’s estate is to divide $880,000 between three charities, the United Way, Heart Fund, and Red Cross in the ratio of 6:3:2, respectively. How many dollars will each charity receive?

 

^[2] A publisher sells its romance novels with chained discounts of 10% and 20%.

(a) Find the single equivalent discount rate.

(b) The publisher would like to add a third chained discount to bring the overall discount to 31.6%. Find the third chained discount rate.

 

^[3] An invoice with terms 2/10, 1/20, n/45 for $3,000 dated November l was partially paid by a $1,470 payment on November 10th and a second payment of $495 on November 20th. What is the outstanding balance after the November 20th payment?

 

^[4] Black Bear Cupcakes received an invoice dated November 28th with terms 1.5/10, n/30 for $8,050. On December 6th, Black Bear mailed a cheque for $4,925 in partial payment of the invoice. What is the outstanding balance after the December 6th payment?

 

^[5] Chemco Co. sells its products at trade discounts of 25%, 10%. A competitor has been offering products at the same list prices but with trade discounts of 30%, 10%. Chemco wants to beat the competitor’s prices by offering a third trade discount. At least how big must the additional discount rate be to meet this objective?

 

^[6] What single discount is equivalent to a chain discount of 15%, 10%?

 

^[7] If we want a single equivalent discount of 19.25% by using chain discounts of 15% and $x$, what must the second discount rate be?

 

^[8] A furniture manufacturer offers his clients discount rates of 22.5% and 10%.

(a) What single rate is equivalent to this series of rates?

(b) If a client of this manufacturer paid $1,395 for a sofa, at what price was the sofa listed?

 

^[9] Find the selling price of an item bought for $1,050.00 if the margin is 30%?

 

^[10] If a company maintains a margin of 20% on all items it sells, what is the rate of markup?

 

^[11] The regular selling price of an item sold in a store includes a margin of 60%. During a sale, an item that cost the store $240 was marked down 20%. For how much was the item sold?

 

^[12] The net price of an article is $612 after discounts of 15% and 10%. What was the list price?

 

^[13] An item that cost the dealer $850 less 35%, 20% carries a price tag at a markup of 25% of cost. For quick sale, the item was reduced 25%. What was the sale price?

 

^[14] Find the cost of an item sold for $2,800 to realize a rate of markup of 40%.

 

^[15]  An article cost $300 and sold for $450. What was the rate of markup?

 

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