1

LONG QUIZ in
Business Mathematics 11
Name: ___________________________________
Grade: 11 – St. Paul

Directions: Read each statement carefully. Write the letter of your answer from column B to the space
provided before each number in column A.
A B

______1. Original Selling price – New selling price a. Mark down

______2. Mark down ÷ Original Selling Price b. Mark down rate

______3. Original Selling Price (1 − Markdown Rate) c. New Selling price

______4. List Price × Trade Discount Rate d. Trade Discount

______5. Invoice Price × Cash Discount Rate e. Cash Discount

f. Mark-on

g. Cost

h. Selling Price

Problem Solving

Directions: Read each problem carefully then solve with appropriate method. Show your complete
solutions and box your answer/s.

6-10. What are the markup and the rate of markup if a retailer has increased the selling price of a can of
powdered milk from P44.15 to P57.10?

11-15. What was the original selling price of the furniture set you have purchased for P89 999 if there
was a markup rate of 15%?
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16-20. Your apparel store usually offers items with markdowns at the end of season. If the price of the
slim fit jeans was reduced from P1 290 to P999, what is the markdown? What is the rate of
markdown introduced by your store?

21-25. What was the original selling price of a smart TV if it was purchased for only P43 199 at a marked
down rate of 30%?

26-30. Find the net price of a tablet that is listed at P7 999 and has a trade discount rate of 10%.