Chapter 6 Review FID

What is the unit price per case if 3 cases of soda cost $18.99?

• $56.97/case

• $6.33/case

• $15.99/case

• $6.00/case

When determining purchase price, sales tax is _________ to the selling price.

• added

• subtracted

• multiplied

• divided

Answer explanation

Many of you missed this on the last review.

You ADD sales tax to the selling price to get the purchase price.

To calculate how much sale's tax you pay, you MULTIPLY selling price times tax rate.

Match the following

• Sales Tax

• Manufacturer or store incentive received at purchase

• Markdown

• Manufacturer or store incentive received after mail in of receipt and UPC

• Unit Price

• Selling Price times percent of savings

• Rebate

• Total Selling Price times Tax Rate

• Coupons

Thomas purchased a new phone for $499.00. The store was offering a $50 mail-in rebate and 15% off all purchases. If he takes advantage of both incentives, how much will the phone cost him? Assume no tax.

Calculate % off first and then the rebate.

• $24.85

• $564

• $374.15

• $381.65

Old Navy is having a clearance sale.

A shirt that originally sold for $24.99 is on sale for $8.50.

What is the markdown?

• $16.49

• $8.33

• $33.49

• $2.12

Which is a better buy.

A 14 oz bag of Middlesworth for $4.50

or

A 10 oz bag of Middlesworth for $3.00

• 14 oz bag

• 10 oz bag

An item is regularly priced at $45. It is marked down 30%.

What is it's purchase price?

• $13.50

• $150

• $31.50

• $15.00

The original price of a coat was $140.00. It is on sale for $84.00.

What is the percent of markdown?

• 40%

• 45%

• 50%

• 35%

Selling Price is $560. State sales Tax is 5% ( not PA ) and City Tax is 1%.

Find the total purchase price.

• $588

• $593.60

• $526.40

• $33.60

Steve wants a computer with a selling price of $1359.99.

It is currently marked down by 20% .

The PA sales tax is 6%.

If markdowns occur before tax is applied, how much will Steve pay for the computer?

• $1333.99

• $1087.99

• $1421.59

• $1153.27