Mary owns a flower shop in Dangwa. She knows that a lot of male customers will buy roses few days before Valentine's day. A bouquet of roses costs P150.00 and sold at P220.00 on regular days. On Valentine's day, the rate of markup based on the selling price of the bouquet is 10%. Mary knows that evenif she increases the selling price of the bouquet of roses, people will still buy it. So she decided to put a mark-on at 5% of the selling price during Valentine'sDay. a)How much is the mark up? b) How much is the actual selling price on Valentine's day? c) How much is the additional mark-on? d) How much is the new selling price after additional mark-on?
Mary owns a flower shop in Dangwa. She knows that a lot of male customers will buy roses few days before Valentine's day. A bouquet of roses costs P150.00 and sold at P220.00 on regular days. On Valentine's day, the rate of markup based on the selling price of the bouquet is 10%. Mary knows that evenif she increases the selling price of the bouquet of roses, people will still buy it. So she decided to put a mark-on at 5% of the selling price during Valentine'sDay. a)How much is the mark up? b) How much is the actual selling price on Valentine's day? c) How much is the additional mark-on? d) How much is the new selling price after additional mark-on?
Chapter16: Tax Research
Section: Chapter Questions
Problem 64DNC
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Mary owns a flower shop in Dangwa. She knows that a lot of male customers will buy roses few days before Valentine's day. A bouquet of roses costs P150.00 and sold at P220.00 on regular days. On Valentine's day, the rate of markup based on the selling price of the bouquet is 10%. Mary knows that evenif she increases the selling price of the bouquet of roses, people will still buy it. So she decided to put a mark-on at 5% of the selling price during Valentine'sDay.
a)How much is the mark up?
b) How much is the actual selling price on Valentine's day?
c) How much is the additional mark-on?
d) How much is the new selling price after additional mark-on?
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