General Electric won a bid to supply jet engines with a total list price of $600 million to China Airlines. Assuming a trade discount of 20 percent, what did General Electric receive?
New Hampshire Propane Company offers a 2% cash discount if a bill is paid within the first 10 days. On May 9, Ron James received his invoice for $250. On May 18 he sent New Hampshire Propane his payment. What did James send New Hampshire Propane?
A company received an invoice with terms 3/10, n/30. The bill was $13,450. The company is short of cash and sends in a partial payment of $6,400 within 10 days. (a) What credit should the company receive? (b) What is the outstanding balance? Round to the nearest cent.
When a textbook is ordered for classroom use, college bookstores typically get a 20% discount from the publishers. However, according to the National Association of College Stores, when the same book is ordered by other stores, publishers give discounts of at least 30%. If the list price is $60.30, what would be the net price to (a) the college bookstore and (b) the other stores?
You can sometimes cut one-half off the hotel quoted room rates by getting your reservations through a hotel broker. Hotels often designate 10% to 15% of their rooms to be sold by brokers at deeply discounted rates because these specialized travel companies can guarantee the hotel business in the low season. One major hotel in Las Vegas normally charges up to $200 a night for a room you can get through a broker for $69. Golf Pacific Coast, a small package-tour company, takes advantage of these savings. What would be the discount percent ( to the nearest tenth percent) on the hotel rate of the $200 room sold by the broker for $69?
Karen Curry was eager to find seven dozen soft-sided drink coolers for a company promotion. She found a good price, $24 each. However, through Mercata.com a group purchasing website that offers volume discounts to smaller companies who electronically pool their orders, she found a lower price of $21. (a) What was Karen's final total net purchase price? (b) What was her total discount amount using the website? (c) What was the percent discount using the online buying pool? (d) If Karen meets the cash discount period of 2/10 net 30, what would be her final price?
Major offers a 2% cash discount while Lester offers a 3% cash discount. Major offers a $65.00 watch with a chain discount of 15/12/5 while Lester sells the same watch for $68.00 with a chain discount of 14/13/9. Which is the better deal?
Bill Jones receives an invoice from Sears for $1,200 with terms 2/10, 1/15, n/30. The date of the invoice was September 30 and payment to Sears was made on October 12. How much did Bill pay Sears?
Sony Corporation sent Wal-mart an invoice for electronics with $40,000 list price. The Sony invoice was dated May 27. Terms were 2/10 EOM. Wal-mart receives a 30% trade discount and paid the invoice on July 8. What was the cost of the electronics to Wal-mart?
