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6) A merchant realizes a markup of $42 by selling an item at a markup of 37.5% of cost. The merchant's overhead expenses are 17.5% of the regular...
6) A merchant realizes a markup of $42 by selling an item at a markup of 37.5% of cost. The merchant's overhead expenses are 17.5% of the regular selling price. At a promotional sale, the item was reduced in price to $121.66.
a)What is the regular selling price?
b)what is the rate of markup based on the regular selling price?
c)what is the rate of markdown?
d)what is the profit or loss during the promotional sale?
The peel trading company received an invoice dated September 20 for $16,000 less 25%, 20%, terms 5/10,2/30, n/60. Peel made a payment on September 30 to reduce the debt to $5000 and a payment on October 20 to reduce the debt by $3000.
a) What amount must peel remit to pay the balance of the debt at the end of the credit period?
b)What is the total amount paid by Peel?
