70.2K

Verified Solution

Link Copied!

COURSE NAME: BUSINESS MATHEMATICS

COURSE CODE: B0402

COURSE LENGTH: 40 HOURS

GRADED LP4.1 ASSIGNMENT: DISCOUNTS

Complete the following exercises and submit to your instructor via the dropbox. This assignment is worth 15 marks.

1. Calculate the amount to be paid on each invoice. (3 marks)

Date of Invoice	Amount of Invoice	Terms	Date Invoice Paid	Amount Paid
May 4, 2000	$1376.50	3/30, n/60	June 2, 2000
April 25, 2001	$3976.48	2/10, 1/30, n/60	May 8, 2001
June 7, 2001	$375.80	2/10 E.O.M.	July 5, 2001

2. Dawson Wholesales received an invoice from General Meat Packers for $3587.94 dated November 2 with items 5/15, 2/20, n/30. The new accounts assistant paid $3122.85 on November 18. How much does the firm owe the meat packers? (2 marks)

3. Calculate the net price. (4 marks)

List Price	Rate of Trade Discounts	Net Price
$2637.98	17% and 10%
$543.88	22.5%, 7% and 3%

4. Make the extensions in this invoice and calculate the total amount due (4 marks)

	Modern Plumbing Supply Company 376 Maple Street Ottawa, ON, L1M 0N7 Phone: 397-4174 Wholesale Distribution Qty. Ordered Make Description Amount 72 175 207 Gales ATSM Kerr Gaskets #3175@ $1.59 less 35% and 15% Screws #461-3-5 @ $0.19 less 15% Connectors Cups 33A @ $0.77 less 22% and 5% Total Amount Due

5. Nova Electronics found that a computer part was listed at the same suggested retail price in catalogues from two different manufacturers. However, the first catalogue offered discounts of 22% and 8% while the second offered discounts of 16%, 6% and 4%.

Which is the better offer? By what percent less? (2 marks)

Answer & Explanation Solved by verified expert

See Answer