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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Solve the following word problems. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

Castle Mountain Furniture sells desks for $346.00. If the desks cost $212.66, what is the amount of the markup?

To determine

To calculate: The amount of markup of Castle Mountain for given, cost price $212.66 and it’s selling price is $346.

Explanation

Given Information:

The Cost is $212.66 and it’s Selling Price is $346.

Formula used:

The amount of markup can be calculated using the following equation:

Markup=Selling PriceCost or M=SPC

Calculation:

Consider the provided data

Cost is $212.66, and selling price is $346.

Let, the selling price represent as SP, markup price represent M and cost price represents as C.

Cost price C is $212.66, and selling price SP is $346

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