Read the selection for questions 11-15. Mike owns a gadget store. He purchases his stocks from a supplier in Luzon. Each unit of earphone is listed at P300.00. If he buys a dozen, he gets a 5 % trade...

Extracted text: Read the selection for questions 11-15. Mike owns a gadget store. He purchases his stocks from a supplier in Luzon. Each unit of earphone is listed at P300.00. If he buys a dozen, he gets a 5 % trade discount. He plans to sell each unit of earphone at a price with 20% mark-up based on cost. 1. How much will Mike pay for a dozen of earphone if he will avail of the trade discount? a. P3,000.00 b. P3,240.00 P3,420.00 d. P3,600.00 с. 12. How much will be Mike's net sales if he will be able to sell a dozen of earphones? a. P3,140.00 b. P3,215.00 c. P4,104.00 d. P4,405.00 13. How much profit will Mike gain for this transaction? a. P160.00 b. P365.00 c. P500.00 d. P684.00 14. If a new model will come out in the market and Mike decides to markdown the price of the earphone by 10%, how much will be the amount of markdown? а. Р30.00 b. P31.50 c. P34.20 d. P35.00 15. What is the new markdown price of each unit of earphone? a. P270.00 b. P283.50 c. P307.80 d. P315.00