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Quantitative Methods Quiz 1

This document contains 20 multiple choice questions about trade discounts, markups, markdowns, invoice terms, and other pricing and accounting concepts. For each question, the user must select the correct answer from the four options provided. The questions involve calculations related to cost, selling price, discounts, invoice amounts, discount dates, and net payment amounts.

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Hareen Junior
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96 views9 pages

Quantitative Methods Quiz 1

This document contains 20 multiple choice questions about trade discounts, markups, markdowns, invoice terms, and other pricing and accounting concepts. For each question, the user must select the correct answer from the four options provided. The questions involve calculations related to cost, selling price, discounts, invoice amounts, discount dates, and net payment amounts.

Uploaded by

Hareen Junior
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 9

Question 1

Points: 1

Answer:

 Question 2
Points: 1

Working Method: Selling price is = $92.61


So, the markup + cost = selling x + y=92.61

25
25x=11y, then x x =92.6
11

36x = 92.61 × 11 =

Question 3
Points: 1
Find the net cost equivalent for the following discount.
5/5/40/10

Question 4
Points: 1
Solve the problem. Round to the nearest cent.
The list price of a keyboard is $597. If the series discount offered is 10/25/35, what is
the net cost after trade discounts?

Answer:
 Question 5
Points: 1

A.

Markup = $1.94 | Selling price = $10.75 | % Markup on cost = 18.0%

B.

Markup = $1.94 | Selling price = $6.87 | % Markup on cost = 22.0%

C.

Markup = $2.48 | Selling price = $6.33 | % Markup on cost = 28.2%

D.

Markup = $2.48 | Selling price = $11.29 | % Markup on cost = 28.2%

 Question 6
Points: 1

A.

$280.50
B.

$243.08

C.

$1294.71

D.

$1122.00

Question 7
Points: 1
Solve for the amount of discount and amount due.

Invoice amt: $44.81


Invoice date: May 6
Terms: 2/10, net 30
Date paid: May 15

Question 8
Points: 1
Solve for the amount of discount and amount due.
Invoice amt: $502.45
Invoice date: Nov 10
Terms: 2/13 ROG
Goods received: Dec 4
Date paid: Jan 10
Question 9
Points: 1
Find the final discount date and the net payment date.

Invoice date: June 14


As of: June 18
Terms: 6/20, n/60

 Question 10
Points: 1

A.

Operating exp = $47.68 | Operating loss = $37.30 | Absolute loss = $10.38

B.

Operating exp = $8 | Operating loss = $10.38 | Absolute loss = $2.38

C.

Operating exp = $10.38 | Operating loss = $8 | Absolute loss = $2.38

D.

Operating exp = $8 | Operating loss = $2.38 | Absolute loss = $10.38

Question 10.

Solve for the amount of discount and amount due.


Invoice amt: $1160
Invoice date: May 20
Terms: 5/10, n/60
Shipping/Insurance: $32.52
Date paid: May 28

Question 12
Points: 1
Solve for the amount of discount and amount due.
Invoice amt: $571.14
Invoice date: Mar 5
Terms: 1/10 - 20x
Goods rec'd: Mar 7
Date paid: Apr 4

Question 13
Points: 1
Solve for the amount of discount and amount due.
Invoice amt: $293.41
Invoice date: Sept 13
Terms: 3/11 EOM
Goods received: Sept 16
Date paid: Oct 9

 Question 14
Points: 1

A.
Cost = $143 | Reduced price = $135 | Operating loss = $8

B.

Cost = $117 | Reduced price = $108 | Operating loss = none

C.

Cost = $151 | Reduced price = $142 | Operating loss = $17

D.

Cost = $117 | Reduced price = $108 | Operating loss = $26

 Question 15
Points: 1

A.

% Markdown = 28% | Reduced price = $627.12

B.

% Markdown = 72% | Reduced price = $243.88

C.

% Markdown = 72% | Reduced price = $627.12

D.

% Markdown = 28% | Reduced price = $1114.88


Question 16
Points: 1
Find the discount date and net payment date.
Invoice date: Sep 8
Terms: 3/6 EOM

Question 17
Points: 1
Find the net cost. Round to the nearest cent.
$1216 less 10/40/20

Question 18
Points: 1
Find the discount date and net payment date.
Invoice date: Aug 19
Terms: 2/15 ROG
Goods received: Oct 2

 Question 19
Points: 1

A.

Original price = $3.26 | Reduced price = $5.72


B.

Original price = $3.52 | Reduced price = $1.06

C.

Original price = $5.72 | Reduced price = $8.18

D.

Original price = $5.72 | Reduced price = $3.26

Question 20
Points: 1
Find the discount date and net payment date.
Invoice date: Nov 28
Terms: 1/8 - 20x

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