Question 3: Calculating the Retail Price
1st Row: Lamborghini VX7
2nd row: Google glass
3rd row: Nintendo 2DS
4th row: GTa v + ps3
5th Row: Samsung "curved" tv
Wholesale Price
$1500 $1000 $70 $187.50 $2941.50 |
Profit Margin (35%)
$1500 x 0.35=$525 $1000 x 0.35=$350 $70 x 0.35=$24.50 $187.50 x 0.35=$65.62 $2941 x 0.35=$1029.52 |
Mark-Up Price
$1500 + $525=$2025 $1000 + $350=$1350 $70 + $24.50=$94.50 $187.50 + $65.62=$253.12 $2941.50 + $1029.52=$3971.02 |
GST (10%)
$2025 x 0.1=$202.50 $1350 x 0.1=$135 $94.50 x 0.1=$9.45 $253.12 x 0.1=$25.31 $3971.02 x 0.1=$397.10 |
Retail Price
$2025 + $202.50=$2227.50 $1350 + $135=$1485 $94.50 + $9.45=$103.95 $253.12 + $25.31=$278.43 $3971.02 + $397.10=$4368.12 |
Question 4: Exploring Discounts
a)
Product
Lamborghini VX7 Google Glass Nintendo 2DS GTA V + PS3 Samsung "Curved" TV |
20% Discount
$2227.50 x 0.2=$445.50 $1485 x 0.2=$297 $103.95 x 0.2=$20.79 $278.43 x 0.2=$55.68 $4368.12 x 0.2=$873.62 |
New Retail Price
$2227.50 - $445.50=$1782 $1485 - $297=$1188 $103.95 - $20.79=$83.16 $278.43 - $55.68=$222.75 $4368.12 - $873.62=$3494.50 |
b) $1603.80, 28%, $1559.2
c) $2212.50, 0.6734006734%, No. Every number is different, so percentages are different as well.
d) $1113.75, 50% off
e)$1670.63, 25% off
c) $2212.50, 0.6734006734%, No. Every number is different, so percentages are different as well.
d) $1113.75, 50% off
e)$1670.63, 25% off
Question 5: Analysis questions
a) Buy one, get one free
b) 20% off, If the price is $71 or lower
c) I think that the 20% + 10% off system would work well on my products. Even though they are cheaper than other systems, they would draw more customers into my store, therefore, more sales.
b) 20% off, If the price is $71 or lower
c) I think that the 20% + 10% off system would work well on my products. Even though they are cheaper than other systems, they would draw more customers into my store, therefore, more sales.