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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.

After Sunset Food Wholesalers adds a markup of $15.40 to a case of tomato sauce, it sells for $33.98. What is the wholesaler’s cost per case?

To determine

To calculate: The cost price of Sunset Food Wholesalers for given, the amount of markup $15.40 and selling price $33.98.

Explanation

Given Information:

The amount of markup is $15.40 and selling price is $33.98.

Formula used:

The cost can be calculated using the following equation:

Cost=Selling PriceMarkup or C=SPM

Calculation:

Consider the provided data,

Selling Price $33.98, and Markup $15.40

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

Markup price M is $15.40, and selling price SP is $33

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