   Chapter 8, Problem 7AT ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### 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.The Carpet Gallery is looking for a new line of nylon carpeting to retail at $39.88 per square yard. If management wants a 60 % markup based on selling price, what is the most that can be paid for the carpeting to still get the desired markup? To determine To calculate: The Cost, for given, Selling Price is$39.88 and the percent Markup based on Selling Price is 60%.

Explanation

Given Information:

The Selling Price is $39.88 and the percent Markup based on Selling Price is 60%. Formula used: The Cost can be calculated using the following equation: Cost=SP(100%%MarkupSP) or C=SP(100%%MSP) Calculation: Consider the provided data, Selling Price is$79.95 and percent Markup based on Selling Prices is 60%:

Assume, SP =\$39

### 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

#### Find more solutions based on key concepts 