29) selling price-$150 rate of markup-28.5% markup-? orginal price-?
A) markup: $42.75; orginal price:$107.25 B) markup: $33.27; original price: $116.73 C) markup: $38.25; original price:$111.75 D) markup:$47.75; original price: $102.25
2006-10-13 17:21:47 · 3 answers · asked by Anonymous in Education & Reference ➔ Higher Education (University +)
B. $150 divided by 1.285 = $116.73
2006-10-13 17:30:55 · answer #1 · answered by Bill P 5 · 1⤊ 0⤋
Why is this question in the Higher Education category?
original price times markup rate equals markup.
selling price = original price + markup
or to say it another way
selling price = original price times (100% plus markup rate)
You are given selling price and markup rate.
So:
$150 / (100% + 28.5%) = original price
= $150 / 128.5% = $150 / 1.285 = $116.73
No need to bother calculating the markup since
only one of the answers has this original price.
But for the sake of completeness,
markup = $150 - $116.73 = $33.27
2006-10-13 18:22:13 · answer #2 · answered by T M 6 · 0⤊ 0⤋
yep bill P is right and you can conform it by 116.73 and multiply by 1.285
the 1 is for the original price and the .285 is for the markup and it comes out to 149.998
Do not be concerned, it not exactly 150 as with rounding it is
2006-10-13 18:06:23 · answer #3 · answered by Magnusfl 3 · 0⤊ 0⤋