word problem help

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hinesma61

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I am taking a course in professional retail management and I am doing a math pre-test. Here is the word problem I am not sure how to do.

Planned sales for the month are $870,000. The store was given a stretch goal to increase planned sales for the month by 4%. What is the new sales plan in dollars for the month?

We are to use 'N' as the item we are looking for. We have to show our work.

Here is an example of what we are doing......

The paint department received only 85% of the planned shipment. The department received 2,550 units. How many units should the department have received?
a. 2,550 is 85% of N
b. 2550/.85 = 3000
c. The department should have received 3,000 units.
 
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Planned sales for the month are $870,000. The store was given a stretch goal to increase planned sales for the month by 4%. What is the new sales plan in dollars for the month?
Click to expand...

If i'm reading this correctly,

you have to increase 870 000 by 4% right? So first, you have to figure out what 4% of 870 000 is, and that would be

870 000*0.04=34 800

now add that amount to your original amount(because you want to increase your sales) so you get

870 000+34 8000= 904 800

Alternatively you could do 870 000*(1.04)= 904 800


Ok, so now lets try with writing out the equation, I guess there are a lot of ways to word this...

Let N represent the new sales plan in dollars

870 000 increased by a factor of 1.04 is N
1.04%*870 000=904800

I think that's right...
 
next problem

Here is the next one I am having a problem with.

The retail cost of a refrigerator is $2541.00, which has a 65% markup of the actual cost for the item. What is the actual cost of the refrigerator for the retailer?


 
next word problem

here is the next one I need help with...

A customer noticed a competitor’s ad for a lawnmower the cost of which was 12% lower than the advertized cost at your store for the same mower. If the mower at your store has a retail cost of $575.45, what is the competitor’s price?

N = competitor's price
 
hinesma61 said:
here is the next one I need help with...

A customer noticed a competitor’s ad for a lawnmower the cost of which was 12% lower than the advertized cost at your store for the same mower. If the mower at your store has a retail cost of $575.45, what is the competitor’s price?

N = competitor's price
Click to expand...

Hinesma, a couple problem's have been done for you so far. Why don't you give this one a shot yourself then let us know if you get stuck?
 
as I see it

here is what I see so far...

a. 575.45 – 12% = N

b. 575.45 - .12 or 12% = 575.33, this can't be right because that amount is too small. I was never good at fractions and percents!

OK, I see what my main problem was, 575.45 x .12 or 12% = 69.05, 575.45 - 69.05 = 506.40.

c. The competitor's price is $506.40.

Is this correct???
 
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hinesma61 said:
here is what i see so far...

a. 575.45 – 12% = n

b. 575.45 - .12 or 12% = 575.33, this can't be right because that amount is too small. I was never good at fractions and percents!

Ok, i see what my main problem was, 575.45 x .12 or 12% = 69.05, 575.45 - 69.05 = 506.40.

C. The competitor's price is $506.40.

Is this correct???
Click to expand...

yes!!!
 
next one!

OK, I am not sure where to begin on this one, lol!


A department is planned to have a total staff of 16 employees to cover the planned sales for the season, 4 FT and 12 PT. What percent of the staff is FT and what percent of the staff is PT?


4 is N% of 16 and 12 is N% of 16????

then there re these....

For the Spring season, the store was projecting a 1.5% shortage rate for $15M in total sales. What was the dollar amount for the shortage projection?


I see this one as...a. 15,000,000 x 1.5% or .015 = N
b. 15000000 - (15000000 x .015) = 14775000
c. Shortage projection is $14,775,000.

is that right???


[FONT='bookman old style', 'new york', times, serif]and the next one
[FONT='bookman old style', 'new york', times, serif]
Labor dollars for last month were budgeted at $550,000. Actual labor dollars were 105.2% of the budget. What was the actual labor cost in dollars for last month?


not sure where to go with this one too!


a.
b.
c.


then this one..


A light fixture was placed on clearance. The fixture had an original retail price of $124.90 and was reduced by $24.98. What was the percent of cost reduction and what was the new price?


a. $24.98 is N% of $124.90 and $124.90 - $24.98 = N
b.
c.


and the last one...


Last year, the average number of items per customer transaction for the month of May was 3.75. For the month of May this year, the average number of items per customer transaction increased by 7.4%. What is the average number of items per customer transaction for the month of May, this year?


a.
b.
c.


really lost on this one!






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