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Chapter 3 Buying and Selling

Vida buys items to resell for a profit. She bought perfume for ₱1,500 and wants a 20% markup on cost. What is the selling price? With a selling price of ₱1,700 and 20% markup on price, what is the markup amount? You bought a bag for ₱800 plus ₱50 transport. You sold it for either ₱1,000 or ₱700. Determine profit or loss. A refrigerator was marked down 5%. Find the discount amount, net invoice price, and net price using the invoice rate. Chino bought a TV for ₱15,000 with 10% trade discount and

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1K views1 page

Chapter 3 Buying and Selling

Vida buys items to resell for a profit. She bought perfume for ₱1,500 and wants a 20% markup on cost. What is the selling price? With a selling price of ₱1,700 and 20% markup on price, what is the markup amount? You bought a bag for ₱800 plus ₱50 transport. You sold it for either ₱1,000 or ₱700. Determine profit or loss. A refrigerator was marked down 5%. Find the discount amount, net invoice price, and net price using the invoice rate. Chino bought a TV for ₱15,000 with 10% trade discount and

Uploaded by

Cherie Lee
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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CHAPTER 3- BUYING AND SELLING

Pre- assessment
1. Vida is a student who does buy and sell on her spare time. She buys and sells anything she
believes her classmates or schoolmates would buy. If she bought a perfume for ₱ 1 500.00 a
bottle and she wanted mark-up of 20% on the cost, how much will she sell it for? If she wants a
markup of 20% based on selling price of ₱ 1 700.00, how much will be her markup.

2. You bought a bag for ₱ 800.00. You spent ₱ 50.00 for transportation in going to the store to
buy it. For the following case, determine whether you earn a profit or incurred a loss.
Determine how much profit or loss was.
a. You sold the bag to your friend for ₱ 1 000.00
b. you sold the bag to your friend for ₱ 700.00

3. A refrigerator was marked to sell at less 5%


Find
a. Discount
b. Net Invoice Price
c. Net Invoice Price using NIP rate
4. Chino bought a set television with a list price of ₱ 15 000.00 and a trade discount of 10%
2 𝑛
The term of sale is 10, 30
Find:
a. Trade discount
b. Net invoice price
c. Cash discount
d. Net amount payable if paid within the discount period

5. Teresita borrowed ₱ 2 000.00 from her friend at an interest rate of 1 % per month. She
promised to pay it within three months.
a. How much interest will Teresita have to pay for the term of the loan?
b. How much will she pay come the end of the loan period ( maturity date)

6. You are planning to buy a house and lot and secure a mortgage given that the price of the
house and lot is ₱ 2 400.00 The real state dealer is asking for a 20% down payment.
a. How much is the down payment
b. How much would be the amount of the mortgage loan?
c. assume that you pay ₱ 14 389.21 monthly at an interest rate of 6%
d. How much would go to the interest and how much to the principal?

7. Roger works as a sales agent for the Hardworking Trading and earns a basic monthly salary
of ₱ 8 000.00 plus 5% commission on all his sales. If he made total sales of ₱ 50 000.00 for the
month, find this:
a. commission
b. gross earnings

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