Cash Purchases Test Review

Cash Purchases Review

Multiple Choice

A(n) _________ is the markup on an item expressed as a percent of its selling price. 

• coupons 
• markdown rate 
• sales receipt 
• rebates

Multiple Choice

________ are discounts offered by businesses in the form of money given back to the customer, usually through the mail. 

• total purchase price 
• sales receipt 
• coupons 
• rebates 

Multiple Choice

The ______ is the cost of an item per unit of measure or count, such as dollars per pound or cents per dozen. 

• sale price 
• unit pricing 
• markdown 
• retail price 

Multiple Choice

A(n) ____________  is a tax charged by most states on the selling price of a good or service, usually expressed as a percent. 

• sales tax 
• total purchase price 
• markdown 
• comparison shopping 

Multiple Choice

_________ are discounts offered by businesses in the form of tickets that are redeemed at the time of purchase. 

• markdown 
• coupons 
• comparison shopping 
• rebates

Multiple Choice

A(n) ___________ is the selling price of an item plus the sales tax. 

• comparison shopping
• sales receipt 
• rebates 
• total purchase price 

How do we calculate sales tax and discounts?​

By Mary Allgood

Discounts

To calculate discounts we will follow these steps:

1. Change the % into a decimal.

2. Multiply the Original Amount by the discount amount.

3. Subtract your answer in step 2 from the original amount.

​Example:

How to Calculate a Discount

Multiple Choice

How much will it cost to buy a toy that cost $40, but has a discount of 15% off?

• $34

• $46

• $40.15

• $39.85

Multiple Choice

What is the total purchase price of a $13.65 lamp if the sales tax rate is 6.2%?

• $14.50

• $19.85

• $14.27

• $15.84

Open Ended

Mr. Lamothe purchased a pair of pants for $54.99. He had a coupon for 25 percent off. How much did he pay for the pants?

Open Ended

A set of lawn gnomes has a price of $89.99. They currently have a markdown rate of 78%. What is the markdown and purchase price?

Open Ended

Compizza Palace sells pizza for $3 a slice, but offers a special discount of $2 off for day-old slices. What is the markdown rate and purchase price of 6 slices of day-old pizza?

Multiple Choice

Shea has a coupon for $0.35 off a $2.89 box of labels. What will the labels cost if the coupon is used?

• $2.54

• $2.34

• $3.35

• $2.35

Multiple Choice

Kristen compares the price for paper towels. A 24-roll package is $19.99. A 12-roll package is priced at $9.69. A 3-roll package is priced at $2.89. A single roll is priced at $0.89. Based on price alone, which is the better buy?

• 24-roll package

• 12-roll package

• 3-roll package

• single roll

Open Ended

I want to buy new sheets at Bed Bath & Beyond which cost $35.00. I have 2 coupons: 1) $10 off of a purchase of $30 or 2) 20% off any one item. Explain which coupon would save me the most. What would the final cost be if the coupon is used. (Include tax if appropriate)

Open Ended

The Reebok store is having a sale. Buy 1 pair and get the second for 50% off the lowest priced item. One pair cost $129.99 and the second item is $179.99. What is the total purchase for both pairs?

Open Ended

You went to Party City and purchased a big red nose for $1.99, a set of face paint for $4.99, a big blue wig for $8.99, and a package of colorful cotton balls for $3.49. What was your purchase total?

Multiple Choice

Mason bought a 12-oz bottle of mango juice for $1.12. What was the unit price per oz

• $0.10

• $0.09

• $0.03

• $0.08

Multiple Choice

Joseph purchased an 11.5 oz box of cereal for $3.99. What was the unit price of the cereal?

• $0.288

• $0.347

• $0.363

• $0.370