Expert answer:Mathematics of Buying and Selling Exercises
Solved by verified expert:I was needing some help for a business class that I am currently in for an excel assignment that is attached below titled “Mathematics of Buying and Selling Exercises” that has for each tab, a total of 10 business math questions to where we are required to show our work in the cells and use excel formulas instead of writing in the values or answers directly in the cells when finding the solutions to the problems. If possible in addition to that, I would appreciate any tutor as well in providing on a separate word document worksheet the steps you take within a mathematical formula for each of the 10 problems that would detail how you came to the answers for each problem and would be greatly appreciated for better understanding since math is not really my strong suit and one that I have difficulty with. Purpose of Assignment The purpose of the assignment is to provide students an opportunity to use Microsoft Excel® to practice the concepts of trade discounts, invoicing, markups, and markdowns. Assignment Steps Resources: Mathematics of Buying and Selling Exercises Excel® Template, Excel® 2016 Essential TrainingSave the Mathematics of Buying and Selling Exercises Excel® Template to your computer. (Attached template copy below)Read the instructions on the first tab.Complete the ten exercises located in the template.
mathematics_of_buying_and_selling_exercises.xlsx
Unformatted Attachment Preview
Instructions:
Week 3 Individual Assignment
Total Number of Questions – 10
Total Points: 6
1. You have ten problems – one on each tab of this Excel file.
2. Please show your work in the cells. Use Excel formulas instead of writing the values/answers directly in the cell.
The instructor will then know where you made a mistake and provide you valuable feedback and partial credit (if appropria
back and partial credit (if appropriate).
Nordstrom plans to mark up a Brahmin Croc Embossed Laptop Case $130.50 over cost, which is a 58% markup
based on the cost. Find the cost, the selling price, and the rate of the selling price.
Amount
Cost
+ Markup
= Sell Price
%
ch is a 58% markup
Ronin Copies marks up signs that sell for $49. The markup is 80% based on the selling price.
What is the cost and the amount of markup of a sign?
Amount
Cost
+ Markup
= Sell Price
%
Lowe’s reduced a Maytag dishwasher 12.563%. If the dishwasher was priced at $398,
find the amount of markdown and the reduced price.
Amount
Original SP
‒ Markdown
= New Price
%
Fresh Food Market pays $0.25 per pound for 300 pounds of
apples. On average, 5% of the apples will spoil before they
sell. Find the selling price per pound needed to obtain a 180%
markup on cost.
Unit Price
Quantity
Cost
=Unit Price*Quantity
Amount
Cost
+ Markup
= Sell Price
Proportion to spoil
Proportion to be sold
Pounds expected to sell
Selling Price per pound
%
Find the net price of the PC software SystemWorks that lists for $70 and has a discount rate of 12%.
Use the system of complements.
List Price
Trade Discount %
Net Price Rate
Net Price
Dylan Murphy currently receives a trade discount series of 5/10/10 on merchandise purchased
from a furniture company. He is negotiating with another furniture manufacturer to purchase
similar furniture of the same quality. The first company lists a dining room table and six
chairs for $1,899. The other company lists a similar set for $1,800 and a trade discount
series of 5/5/10. Which deal is better?
5/10/10
List Price
1st Trade Discount
2nd Trade Discount
3rd Trade Discount
Net Decimal Equivalent (don’t round)
Net Price (using Net Decimal Equivalent)
Single Discount Equivalent (don’t round)
Trade Discount $
Net Price (using Trade Discount)
5/5/10
PlumbingStore.com buys one model of tankless water heater that has a list price of $395.
The trade discount is 18%. What is the trade discount and net price of the heater?
List Price
Trade Discount %
Net Price Rate
Net Price
Federated Department Stores received an invoice dated April 18 that shows a billing for
$3,848.96 with terms 2/10, 1/15, n/30. Find the cash discount and net amount if the invoice
is paid within 15 days but after 10 days.
Terms on Invoice
Date on Invoice
No. of days within which the Invoice was paid
Date by which the Invoice was paid
Cash Discount %
Number of days to take advantage of 2% discount
Final Date Invoice must be paid to get 2% discount
Can Federated get a 2% discount?
Cash Discount %
Number of days to take advantage of 1% discount
Final Date Invoice must be paid to get 1% discount
Can Federated get a 1% discount?
Price on Invoice
Cash Discount Amount ($)
Net Amount (Method 1 using Cash Discount)
Net Amount (Method 2 using Complements)
Office Max purchased office furniture in the amount of
$89,517 and was invoiced with terms of 2/10, n/30. Cash
strapped at the time, Office Max decided to make a partial
payment of $50,000 within 10 days. How much should be
credited to its account? What is the outstanding balance?
Terms
Cash Discount %
Invoice total
Partial payment made before discount date
Amount Credited
Amount Still Due On Account
Curves Fitness Center received an invoice for $3,097.15 that
was dated September 8 with terms of 3/15 ROG. The goods
being invoiced arrived on September 12. By what date must
the invoice be paid to get the cash discount? How much
should be paid?
Invoice Date
Date Goods are Received
Terms
# of Days we have to take advantage of the discount
Final Date to take Discount
Invoice Total
Cash Discount %
Cash Discount $
Total Paid
…
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