BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

Solutions

Chapter
Section
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.

Wyatt’s Western Wear purchases shirts for $47.50 each. A $34.00 markup is added to the shirts.

a. What is the selling price?

b. What is the percent markup based on cost?

c. What is the percent markup based on selling price?

(a)

To determine

To calculate: The selling price of a shirt, if Wyatt’s Wear purchases shirt for $47.50 each and amount of markup is $34.

Explanation

Given Information:

The cost of a shirt is $47.50 and amount of Markup is $34.

Formula used:

The Selling Price can be calculated as;

Selling Price=Markup+Cost SP=M+C

Calculation:

The cost of a shirt is $47.50 and amount of Markup is $34.

So, M=$34 and  C =$47

(b)

To determine

To calculate: The percent markup based on cost, if Wyatt’s Wear purchases shirt for $47.50 each and amount of markup is $34.

(c)

To determine

To calculate: The percent markup based on Selling Price, if Wyatt’s Wear purchases shirt for $47.50 each and amount of markup is $34.

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Math Solutions

Find more solutions based on key concepts

Show solutions add

Find the limit or show that it does not exist. limxx+3x24x1

Single Variable Calculus: Early Transcendentals, Volume I

WORKER EFFICIENCY An efficiency study showed that the average worker at Delphi Electronics assembled cordless t...

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

In Exercise 724, Compute the indicated products. [1001][432715][100010001]

Finite Mathematics for the Managerial, Life, and Social Sciences

For the probability density function in question 2, the probability of observing a value of greater than 2 is: ...

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th