CHAPTER 7,8,9

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Across
  1. 5. What type of discount that is given to the buyer for making prompt payment?
  2. 7. The party to whom payment of a promissory note is to be made and also called “creditor”.
  3. 8. Find the proceeds RM 900 for 60 days at 7%
  4. 9. Aiman is a retailer of household goods. He can get a freezer for RM 820 off the list price with a 25% trade discount. What is Aiman's net price?
  5. 11. What the amount on the price tag?
  6. 12. Laila was given a 100-day promissory note with an interest rate of 8%. The note was due to maturity date on December 5, 1997. Ann discounted the note to a bank on October 1, 1997, at a discount rate of 10%, and received RM8012. Determine the face value of the note
  7. 13. The formula for the Maturity value is [D = S (1 - dt)]
  8. 15. Shalia purchase goods at a list price of RM 820. If she receive a trade discount of 25% and terms are “2/15, n/30,” what amount that she must pay if she pay within the discount period?
  9. 16. Cash discount is reduction in the ____ when prompt payment (within a short period of time) is made by the buyer.
  10. 18. Back to holiday sale, a Al-Ikhsan sports is offering 6% off everything in the store. What would the sale price be for a sports shoes that normally sellers for RM149?
  11. 19. A 15%, 80 – day note was dated 22 September 2010. The maturity value of the note was RM4025.38. If the note was discounted on 25 Nov 2010 at 17%, find the maturity date of the note
  12. 20. A retailer received an invoice dated 30 February 2020 for the purchase of some items listed at RM5500 and the transportation cost as RM100. She was offered trade discount of 20%, 15% and cash discount terms of 4/10, 2/30, n/60. If the payment was settled on 10 march 2020. Find the amount of payment?
  13. 21. A florist shop pays its wholesaler RM 40 for a certain shop, and then sells it to a customer for RM 75. What is the markup rate?
Down
  1. 1. Chong held an RM676 note with no interest dated August 9, 2001. He discounted the note at 6% and received RM670.37 in proceeds. When did the maturity date of the note if it was discounted on 14 September 2001?
  2. 2. __ is the amount of money added to their cost of a product or service.
  3. 3. The party in a promissory note who is making the promise to pay and also called “debtor”.
  4. 4. Single discount involve only __ trade discount.
  5. 6. The amount stated on the note
  6. 9. A book store uses a 40% markup on cost. Find the cost of a pieces of book that sells for RM 63.
  7. 10. Sarah receives a 120 day promissory note for RM 4000 with interest rate is 8% per annum. The note is dated 5 June 2020. The note is discounted on 10 July 2020 at a bank that charges 10% discount. Determine the proceeds?
  8. 14. A 85-day promissory note at 8% bearing interest is dated 14 May 2021 and has a face value of RM2000. On 24 July 2021 the note is discounted at 15%. Using a 360-day year for all interest and discount calculations. Find the maturity value?
  9. 17. Dynamic Company have purchased ten vehicles at a 5% trade discount off the list price of RM 1,000,000 each. Find the total of list price.
  10. 20. Ahmad received a 100-day promissory note on 17th June 2008 with simple interest rate of 5% per annum. After 40 days, he discounted the note at a discount rate of 3% and received proceeds of RM12,188.75. Find the maturity value.