4. What is the net price of a bill of $345.60 on which a discount of 7% is allowed? 5. Students are allowed a discount of 15% on all books published by D. R. Gray and Company. How much must a student pay for 2 histories priced at $.60 each, a dictionary priced at $14.50, and an encyclopedia priced at $64.50? 6. A certain store advertises a sale of all furniture at a reduction of 15%. Find the sale price of chairs marked $16.50, $24.50, $36, $12.60, and $30. 7. Mr. Harlan buys $460 worth of cotton goods and is allowed a discount of 7% for cash payment or 5% if paid within 30 days. He pays cash. How much does he pay? How much does he save? 8. On furniture listed at $180, discounts of 20% and 20% are allowed. How much must the purchaser pay? 9. Mrs. A. Fallon has a charge account at Arthur Smith and Company. She is allowed a discount of 6% on all purchases. How much must she pay for the following purchases made last month? Petticoat, $8.75 Fur Collar, $32.75 10. If 620 yd. of cloth listed at $2.60 a yard are damaged by water and sold at a discount of 25%, how much is received for the cloth? 11. What is the net cost of 160 yd. of lace at 621¢ a yard, on which discounts of 10% and 5% are allowed? 12. How much is due on a bill of hardware amounting to $400, the discounts being 25% and 10%? 13. Albert Lambert buys 120 doz. knives from the A. B. Cutler Company at $8 a dozen, less 20%, and 10% off for cash. How much does he pay? 14. A merchant can buy goods listed at $4000 at a single discount of 25% or at discounts of 20% and 5%. Which is better for him, and by how much? 15. Which is better for the buyer, and by how much, a discount of 50% on a bill of goods amounting to $850, or discounts of 25%, 15%, and 10%? 16. I can buy a machine for $120 less 20% and 10% from one company, or for $130 less 25% and 10% from another company. Which offer should I accept, and why? 17. How much less is the net cost of 250 yd. of braid, listed at 40¢ a yard, when the discount is 20%, than when it is 10% and 10%? 18. Certain electrical supplies are sold at discounts of 25% and 5% for cash. How much must be paid on a bill for $600 worth of such supplies? 19. A lot of books are sold on terms of 10% and 5%. Find the net cost of a bill amounting to $140.50. 20. Find the net cost of: 2 doz. hammers @ $ 4.50 12 doz. saws @ $18 Terms 15% and 5%. 21. What single discount is equal to the successive discounts 25% and 10%? 22. A jeweler buys a necklace listed at $450 less 20% and 20% and sells it at the list price. How much does he gain? 23. Mr. Vincent receives a discount of $48 from a bill of goods listed at $960. What is the rate of discount? 24. A. C. Lane and Company pay $150 to settle a bill of $160. What per cent discount is allowed? PROFIT AND LOSS Percentage is constantly applied to business transactions. Problems in profit and loss are percentage problems in which: The base is the cost or money invested. The rate is the per cent of profit (gain) or of loss. The percentage is the profit or loss. The amount or the difference is the selling price. The price paid for goods is called the cost; the price at which goods are sold is called the selling price. The difference between the total receipts and the total expenses is called the net profit. 1. What is meant by selling at an advance? [Without pencil] 2. When goods are sold at a loss, which is greater, the selling price or the cost? 3. When goods are sold at a profit, which is greater, the selling price or the cost? 4. What are the terms used in profit and loss problems? 5. Give the term corresponding to the percentage; the base; the difference; the amount; the rate. To find the profit or the loss and the selling price. Example: A desk costing $80 was sold at a profit of 20%. What was the profit? the selling price? 1. Shoes costing $6 a pair were sold at a profit of 50%. Find the profit and the selling price. 2. A profit of 25% was made in selling a hat costing $4. What was the selling price? 3. How much was gained by selling caps costing 50¢ each at an advance of 100%? 4. When goods costing $80 were sold at a loss of 10%, what was the selling price? 5. A storekeeper sold all of last season's stock, costing $120, at a loss of 33%. What was the selling price? 6. Cloth, slightly shopworn, was sold at a loss of 16%. If the cloth cost $1.20 a yard, for how much was it sold? 7. How much did Mr. Lewis receive for his car which cost him $1200 and which he sold after a year's use at a loss of 25%? 8. How much did a man get for a farm costing him $2000 when he sold it at a loss of 5%? 9. At what price must hats costing $1.50 each be sold to gain 150%? to gain 100%? to gain 50%? 10. If a profit of 121% was made in selling cloth costing $2.40 a yard, what was the selling price per yard? 11. A phonograph bought for $65 was later sold at a loss of 10%. What was the loss? the selling price? 12. A retailer bought 60 yd. of ribbon at 10¢ a yard and sold it at an advance of 20%. What was the selling price per yard? the selling price of all? 13. Pins bought at 5¢ a paper were sold at a profit of 200%. Find the selling price per paper. 14. Hats bought at auction at $2 each were sold at a profit of 150%. What was the gain? |