BUSINESS MATH QUIZ 1

Sellers lower their prices when they want to sell out old stock of products. What do we call this price reduction?

• mark-on

• mark down

• mark-up

• margin

Which among the following encourages retailers to impose mark-on in their products?

• Poor-sales of a product

• The item is perishable and it needs to be disposed

• Seasonal demands

• Competition against other sellers of the same product

Len’s cookies cost ₱12 each however, she sold each of her cookies for ₱10. What did she incur?

• profit

• cost

• selling price

• loss

What is the selling price of a cap that costs ₱100 with a mark-up rate of 75%?

• ₱125.00

• ₱150.00

• ₱175.00

• ₱180.00

Since classes will be conducted online, Dims bought a cellphone worth ₱14,500. Her classmate, Richard, bought the same cellphone at the same store last month but it cost him ₱18,800. How much is the mark-down of the cellphone?

• ₱4,300.00

• ₱3,400.00

• ₱4,500.00

• ₱5,400.00

What is the sum of the mark-up and the cost price?

• cost

• loss

• profit

• selling price

Which of the following mathematical equations can we use to solve for the mark-on?

• MO = MU + S

• MO = S – MU

• MO = NP – S

• MO = S – NP

Micah has a milktea shop that sells milktea for ₱85 for the regular-sized cup. However, she is not earning enough to cover the expenses and thus results to zero profit. What should she impose on her product to address this problem and since Milktea Festival is coming? Why?

• Mark-on, she can increase the price anytime she wants.

• Mark-on, she can take advantage of the Festival to earn more.

• Mark-down, she can decrease the price and it will all be sold out.

• Mark-down, she can sell more if her products are affordable.

On All Soul’s Day, Tris sells candles for ₱35 per pack. But on a regular day, she sells them at ₱20 per pack. How much is the mark-on she imposed?

• ₱10.00

• ₱15.00

• ₱35.00

• ₱55.00

Bev brought a bracelet for only ₱48 which was regularly priced at ₱60. What is the mark-down rate of the bracelet?

• 12%

• 20%

• 48%

• 52%