Deck 18: Simple Interest and Discounts

Question 1

The list price of a computer is $1,999.00. Find the cost of the computer if the vendor is advertising a discount of 12%.

Answer 1

$1,759.12

Question 2

The interest is the amount of money you pay for use of money borrowed.

Answer 2

True

Question 3

A package of 260 sheets of drafting vellum costs $23.40. What is the cost of 10 packages of vellum after a discount of 5%?

Answer 3

$222.30

Question 4

An engineering firm adds an 18% interest charge (1.5% per month) on money owed them after 30 days. How much interest is owed on a bill of $4,900.00 that is paid in 90 days?

Question 5

The list price of a computer program is $237.50 with a 10% discount off this price and a cash discount of 2%. Find the net cost of the cash purchase.

Question 6

To calculate a discount, multiply the discount rate and the net price.

Question 7

A package of 260 sheets of drafting vellum costs $23.40. Find the cost of each sheet of vellum.

Question 8

A civil engineer purchases an item through a wholesale outlet, paying 89 1/2% of its retail price. What percent of the retail price did the engineer save?

Question 9

The list price for T-squares is $39.50 per dozen. There is a trade discount of 10% per dozen. Find the cost, to the nearest cent, of each T-square if a company buys a dozen.

Question 10

What is the discounted price of an item originally priced at $915 if the discount is 12%?