Ace of Diamonds purchased 78 diamond bracelets at $230 each and the regular selling price was $345. The store sold 50.00% of them at the regular selling price. During a sale, it sold another 25 of them at a markdown of 15.00%. The remaining units were sold at an additional markdown of 10.00%. Determine the net rate of markup based on total cost.

Ace of Diamonds purchased 78 diamond bracelets at $230 each and the regular selling price was $345. The store sold 50.00% of them at the regular selling price. During a sale, it sold another 25 of them at a markdown of 15.00%. The remaining units were sold at an additional markdown of 10.00%. Determine the net rate of markup based on total cost.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter3: Benefits, Costs, And Decisions

Section: Chapter Questions

Problem 8MC

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