Reference no: EM133147845
Questions -
Q1- A bank in Mississauga has a buying rate of ¥1 = C$0.01136. If the exchange rate is ¥1 = C$0.01166, calculate the rate of commission that the bank charges to buy currencies.
Q2- Diana found US$90 in his attic and sold it to a bank that charged him a commission of 0.40%. How much did he receive from the bank? Assume that the exchange rate was C$1 = US$0.76.
Q3- A bank in Toronto charges 2.00% commission to buy and sell currencies. Assume that the current exchange rate is US$1 = C$1.3425.
a. How many Canadian dollars will you have to pay to purchase US$1,450?
b. How much commission in Canadian dollars (C$) will you pay the bank for the above transaction?
Q4- A specific model of computer servers are being sold by Company A for $26,500 each, offering trade discounts of 7% and 5% and by Company B for $35,700 each, offering trade discount rates of 13% and 2%.
a. Which company offers the servers for a cheaper price?
b. What further trade discount rate must the company with the higher price provide to match the lower price?
Q5- Skis are listed by a manufacturer for $870, less trade discounts of 30% and 18%. What further rate of discount should be given to bring the net price to $449?
Q6- Marissa paid $250.48 for a printer that she purchased after receiving trade discounts of 13%, 8%, and 1%.
a. What was the list price of the printer?
b. What single equivalent trade discount rate represents the series of discounts received?