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OPMT 1110: Business Mathematics Review For Test 1 Page 2 of 3 4. Samrung sells a 60-inch 3D television to retailers for $3,125 less discounts of 24 ors for $3.125 less discounts of 22% and 20%. (a) If a retailer sells the television for $2,600, what is their percent margin? (b) A competitor has the same list price as Samrung but sells the television to retailers for 40% off the list price. Samrung would like to add a chained discount so they can beat the competitor's net price by $42. What third discount rate does Samrung require? 5. You own a Juicing Stand in Metrotown Mall where you serve fresh juice to your customers. The rising cost of oranges has caused you to re-evaluate what you charge for fresh orange our oranges from an American supplier for $0.50 US per pound. The average weight of an orange is 200 grams and it takes about 6 oranges to make a glass of juice. Use the following rates: $1 US=$1.135 CDN 1 orange = 200 g 1 pound = 454 g 6 oranges = 1 glass of juice (a) What is your cost in Canadian dollars to produce a glass of orange juice? (b) If you want a 75% margin on all your sales, how much should you charge for a glass of orange juice? 6. A clothing store marks up the cost of all clothing by 250%. If the store sells a pair of jeans fe $175, how much did the pair of jeans cost the store? 7. You are moving at the end of September and need to rent a moving van. Thrifty charges $1 plus $0.40 per kilometre driven to rent a one-ton moving van van bo (a) Write down the cost equation for Thrifty. (b) Another company, UMove, charges a flat rate of $130 per day to rent a one-ton moving van. For what number of kilometres would the costs be equal for Thrifty and UMove? 1 Pound 0.500s=

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