Pagr 2 of 5 Question 5 (S5 points) 5 points Anitem in a store had a cost of S020
ID: 2596899 • Letter: P
Question
Pagr 2 of 5 Question 5 (S5 points) 5 points Anitem in a store had a cost of S020,nd $44.00 What was the percent markap on cost? marked up to a tlng prke of 1) 686% @ 31.4% 4) 457% 3) some other amount Question 6 (5 points 5 points John Inger sells waterskis He knows the mest people will pay for the skis is $140. lohn is convinced that he needs a 60 percent markup based on cost. The most that John can pay to his supplier for the skis is 12 1) $84.00 2) $87.50 3) some other amount 4) 580.00 Page 4 13 14 15 16 Laee Question 7 (5 points) 5 points 17 1 19 Vic's Jewelry Store bought a diamond ring for $900. Vic wants to sell the set at a markup equal to 75 percent of the selling price. The selling price of the diamond ring should be 20 1) some other amount 2$1.575 3) 53.600 4 51.200 Legend B Saved Response Unsaved into ltom Question 8 (5 points) 5 points Best Duy sell. digital camera for S799. The camera was marked up 45% based on selling price What is Dest Duy's cost of the camera? 11 some other amount 2: $359.55 $551.03 4) 5439 45Explanation / Answer
5.
Answer = 45.7%
Profit = Selling price – Cost
= $44 – 30.2
Profit = 13.8
Profit markup on cost = (Profit / Cost) * 100
= (13.8 / 30.2) *100
= 45.7%
6.
Answer = 87.5
Selling price = $140
Markup on cost = 60%
Let cost price = X
Cost + Profit = Sale price
X + 60% = 140
1.6X = 140
X = $87.5
7.
Answer = $3,600
Cost = $900
Markup on sales = 75%
Let Sale price = X
Cost + Profit = Sale price
900 + (75% * X) = X
900 + 0.75X = X
900 = 0.25X
3600 = X
Selling price = $3600
8.
Answer = $439.45
Selling price = $799
Markup on Sales = 45% * 799
= 359.55
Cost = Selling price – Markup
= 799 – 359.55
=439.45
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