Sheridan Service sells oil at a markup of 40% of the selling price. Sheridan paid $0.91 per litre of oil. (a) What is the selling price per litre? (b) What is the rate of markup based on cost? ***

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter2: Equations And Inequalities
Section2.2: Applied Problems
Problem 10E
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Sheridan Service sells oil at a markup of 40% of the selling price. Sheridan paid $0.91 per litre of oil.
(a) What is the selling price per litre?
(b) What is the rate of markup based on cost?
(a) The selling price per litre is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
(b) The rate of markup based on cost is %.
(Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:Sheridan Service sells oil at a markup of 40% of the selling price. Sheridan paid $0.91 per litre of oil. (a) What is the selling price per litre? (b) What is the rate of markup based on cost? (a) The selling price per litre is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The rate of markup based on cost is %. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
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