You own a whisky shop and purchase a bottle for a list price of $425 less discounts of 10%, 20% and 40%.
(a) What single discount is equivalent to the discount you received?
(b) You mark up the bottle 30% of cost for overhead and 35% of the selling price to account for profit. What is the selling price of the bottle?
(c) Compute both the rate of markup over cost and the gross profit margin.
(d) The bottle was marked down so that it sells at 5% above cost. What was the rate of markdown?