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1996-06-05
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10KB
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353 lines
Below are eight COST word problems.
Have your pencil and scratch paper ready.
Press the PAGE DOWN key to start...^15
*************************************************************
* *
* Sample COST problem #1 *
* *
*************************************************************
1. An airlines wishes to keep its airfare, including a 5%^14
tax, between New Bern and Winston Salem at exactly $126.^14
Find the cost of the ticket before tax.^14
(a) $110^14
(b) $120^14
(c) $115^14
(d) none of these^14
Press the PAGE DOWN key for solution...^15
SOLUTION.^15
1. Use markup equation^11
ORIGINAL COST + MARKUP AMOUNT = NEW PRICE
ORIGINAL COST + (MARKUP% * ORIGINAL COST) = NEW PRICE
2. Substitute numbers from problem into equation^11
ORIGINAL COST + (5% * ORIGINAL COST) = 126
3. Solve for original cost^11
(100% * ORIGINAL COST) + (5% * ORIGINAL COST) = 126
(100% + 5%) * ORIGINAL COST = 126
105% * ORIGINAL COST = 126
126 126
Cost before tax = ---- = ---- = $120
105% 1.05
Answer is (b)^3
Press the PAGE DOWN key for next problem...^15
*************************************************************
* *
* Sample COST problem #2 *
* *
*************************************************************
2. A gold chain is marked down 12% and now costs $880.^14
What was the original price?^14
(a) $1,000^14
(b) $1,200^14
(c) $1,125^14
(d) none of these^14
Press the PAGE DOWN key for solution...^15
SOLUTION.^15
1. Use markdown equation^11
ORIGINAL COST - MARKDOWN AMOUNT = NEW PRICE
ORIGINAL COST - (MARKDOWN% * ORIGINAL COST) = NEW PRICE
2. Substitute numbers from problem into equation^11
ORIGINAL COST - (12% * ORIGINAL COST) = 880
3. Solve for original cost^11
(100% * ORIGINAL COST) - (12% * ORIGINAL COST) = 880
(100% - 12%) * ORIGINAL COST = 880
88% * ORIGINAL COST = 880
880 880
Cost after markdown = ---- = ---- = $1000
88% .88
Answer is (a)^3
Press the PAGE DOWN key for next problem...^15
*************************************************************
* *
* Sample COST problem #3 *
* *
*************************************************************
3. A gold chain is marked down 20% and now costs $120.^14
What was the original price?^14
(a) $110^14
(b) $112^14
(c) $140^14
(d) none of these^14
Press the PAGE DOWN key for solution...^15
SOLUTION.^15
1. Use markdown equation^11
ORIGINAL COST - MARKDOWN AMOUNT = NEW PRICE
ORIGINAL COST - (MARKDOWN% * ORIGINAL COST) = NEW PRICE
2. Substitute numbers from problem into equation^11
ORIGINAL COST - (20% * ORIGINAL COST) = 120
3. Solve for original cost^11
(100% * ORIGINAL COST) - (20% * ORIGINAL COST) = 120
(100% - 20%) * ORIGINAL COST = 120
80% * ORIGINAL COST = 120
120 120
Cost after markdown = ---- = ---- = $150
80% .80
Answer is (d)^3
Press the PAGE DOWN key for next problem...^15
*************************************************************
* *
* Sample COST problem #4 *
* *
*************************************************************
4. A furniture store sells a bed for $168. If the store^14
makes a profit of 20% of its cost on the sale, what was^14
the cost of the bed to the store?^14
(a) $125^14
(b) $130^14
(c) $140^14
(d) none of these^14
Press the PAGE DOWN key for solution...^15
SOLUTION.^15
1. Use markup equation^11
ORIGINAL COST + MARKUP AMOUNT = NEW PRICE
ORIGINAL COST + (MARKUP% * ORIGINAL COST) = NEW PRICE
2. Substitute numbers from problem into equation^11
ORIGINAL COST + (20% * ORIGINAL COST) = 168
3. Solve for original cost^11
(100% * ORIGINAL COST) + (20% * ORIGINAL COST) = 168
(100% + 20%) * ORIGINAL COST = 168
120% * ORIGINAL COST = 168
168 168
Cost after markdown = ---- = ---- = $140
120% 1.20
Answer is (c)^3
Press the PAGE DOWN key for next problem...^15
*************************************************************
* *
* Sample COST problem #5 *
* *
*************************************************************
5. A store sells a color television for $648.21. If the^14
store makes a profit of 23% on the sale, what was the^14
cost of the television to the store?^14
(a) $527^14
(b) $526^14
(c) $525^14
(d) none of these^14
Press the PAGE DOWN key for solution...^15
SOLUTION.^15
1. Use markup equation^11
ORIGINAL COST + MARKUP AMOUNT = NEW PRICE
ORIGINAL COST + (MARKUP% * ORIGINAL COST) = NEW PRICE
2. Substitute numbers from problem into equation^11
ORIGINAL COST + (23% * ORIGINAL COST) = 648.21
3. Solve for original cost^11
(100% * ORIGINAL COST) + (23% * ORIGINAL COST) = 648.21
(100% + 23%) * ORIGINAL COST = 648.21
123% * ORIGINAL COST = 648.21
648.21 648.21
Cost after markdown = ------ = ------ = $527
123% 1.23
Answer is (a)^3
Press the PAGE DOWN key for next problem...^15
*************************************************************
* *
* Sample COST problem #6 *
* *
*************************************************************
6. A store marks up the cost of a stove 20%. The owner^14
decides to have a sale and discounts the stove 10% from^14
the old selling price. During the sale the store sold the^14
stove for $216. How much did the stove cost the store?^14
(a) $200^14
(b) $234.24^14
(c) $240^14
(d) None of these^14
Press the PAGE DOWN key for solution...^15
SOLUTION - page 1.^15
1. Use markup & markdown equations^11
ORIGINAL COST + MARKUP AMOUNT = NEW PRICE
ORIGINAL COST + (MARKUP% * ORIGINAL COST) = NEW PRICE
ORIGINAL COST - MARKDOWN AMOUNT = NEW PRICE
ORIGINAL COST - (MARKDOWN% * ORIGINAL COST) = NEW PRICE
2. Let X = ORIGINAL COST TO STORE. Substitute numbers from^11
first sentence of problem into markup formula to figure^11
out cost before sale^11
ORIGINAL COST + (MARKUP% * ORIGINAL COST) = NEW PRICE
(100% * X) + ( 20% * X ) = NEW PRICE
(100% + 20%) * X = NEW PRICE
120% * X = NEW PRICE
1.2X = NEW PRICE = cost before sale
Press PAGE DOWN for rest of solution...^15
SOLUTION - page 2.^15
3. Substitute numbers from second and third sentences into^11
markdown equation^11
Let ORIGINAL COST = COST BEFORE SALE from #2 above^3
ORIGINAL COST - (MARKDOWN% * ORIGINAL COST ) = NEW PRICE
(COST BEFORE SALE) - ( 10% * COST BEFORE SALE) = 216
1.2X - ( 10% * 1.2X ) = 216
4. Solve for original cost^11
(100% * 1.2X) - (10% * 1.2X) = 216
(100% - 10%) * (1.2X) = 216
.90 * 1.2X = 216
1.08X = 216
216
Original cost = ---- = $200
1.08
Answer is (a)^3
Press PAGE UP for previous page, PAGE DOWN for next problem^15
*************************************************************
* *
* Sample COST problem #7 *
* *
*************************************************************
7. A shopkeeper prices his items 20% over their wholesale^14
price. If a lamp is marked at $74, what was the^14
wholesale price?^14
(a) $61.67^14
(b) $62.67^14
(c) $63.67^14
(d) None of these
Press the PAGE DOWN key for solution...^15
SOLUTION.^15
1. Use markup equation^11
ORIGINAL COST + MARKUP AMOUNT = NEW PRICE
ORIGINAL COST + (MARKUP% * ORIGINAL COST) = NEW PRICE
2. Substitute numbers from problem into equation^11
ORIGINAL COST + (20% * ORIGINAL COST) = 74
3. Solve for original cost^11
(100% * ORIGINAL COST) + (20% * ORIGINAL COST) = 74
(100% + 20%) * ORIGINAL COST = 74
120% * ORIGINAL COST = 74
74 74
Cost before markup = ------ = ------ = $61.67
120% 1.20
Answer is (a)^3
END OF SAMPLE PROBLEMS.........Press ESC for menu^15