5. a furniture store offers a \closing out sale: everything 80% off\.\na) how much will you pay for a…

5. a furniture store offers a \closing out sale: everything 80% off\.\na) how much will you pay for a bedroom suite that originally cost $2989.97 if gst is 5% and pst is 7%?\nb) what are your total savings on this purchase?\n6. robert sells bicycles, skateboards, and snowboards at his sporting goods store. a bicycle that was originally priced at $785.00 sold for $553.00. what percent markdown did robert offer?\n7. the wholesale cost of a tawa, a griddle used to cook indian flatbread, is $53.00. a merchant marks it up 65%. at the end of the season, he sells the remaining stock at 60% off.\na) what was his original asking price?\nb) at the original price, how much would a customer pay with 5% gst and 5% pst?

5. a furniture store offers a \closing out sale: everything 80% off\.\na) how much will you pay for a bedroom suite that originally cost $2989.97 if gst is 5% and pst is 7%?\nb) what are your total savings on this purchase?\n6. robert sells bicycles, skateboards, and snowboards at his sporting goods store. a bicycle that was originally priced at $785.00 sold for $553.00. what percent markdown did robert offer?\n7. the wholesale cost of a tawa, a griddle used to cook indian flatbread, is $53.00. a merchant marks it up 65%. at the end of the season, he sells the remaining stock at 60% off.\na) what was his original asking price?\nb) at the original price, how much would a customer pay with 5% gst and 5% pst?

Answer

5a

Explanation:

Step1: Calculate the sale - price before taxes

The furniture is 80% off. So the price of the bedroom suite after the discount is $(1 - 0.80)\times2989.97=0.20\times2989.97 = 597.994$.

Step2: Calculate the total tax rate

The GST is 5% and the PST is 7%, so the total tax rate is $0.05 + 0.07=0.12$.

Step3: Calculate the final price

The final price is the sale - price plus the tax on the sale - price. So the final price $P = 597.994\times(1 + 0.12)=597.994\times1.12 = 679.75328\approx679.75$.

Answer:

$679.75$

5b

Explanation:

Step1: Calculate the price without the discount but with taxes

The original price with taxes is $2989.97\times(1 + 0.12)=2989.97\times1.12 = 3348.7664$.

Step2: Calculate the savings

The savings is the difference between the price without the discount (with taxes) and the final price paid. So the savings $S=3348.7664 - 679.75328 = 2669.01312\approx2669.01$.

Answer:

$2669.01$

6

Explanation:

Step1: Calculate the amount of markdown

The amount of markdown is the original price minus the sale price, so $785 - 553=232$.

Step2: Calculate the percent markdown

The percent markdown formula is $\text{Percent Markdown}=\frac{\text{Markdown Amount}}{\text{Original Price}}\times100%$. So $\text{Percent Markdown}=\frac{232}{785}\times100%=0.295541\times100% = 29.55%$.

Answer:

$29.55%$

7a

Explanation:

Step1: Calculate the original asking price

The merchant marks up the wholesale cost by 65%. The formula for the marked - up price is $P=(1 + 0.65)\times53$. So $P = 1.65\times53=87.45$.

Answer:

$87.45$

7b

Explanation:

Step1: Calculate the total tax rate

The GST is 5% and the PST is 5%, so the total tax rate is $0.05+0.05 = 0.10$.

Step2: Calculate the price with taxes

The price with taxes is the original asking price plus the tax on the original asking price. So $P=87.45\times(1 + 0.10)=87.45\times1.10 = 96.195\approx96.20$.

Answer:

$96.20$