Chapter 8.I, Problem 1RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

For the following items, calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

Amount of |
Percent Markup |
|||||||||

Item |
Cost |
Markup |
Selling Price |
Based on Cost |
||||||

1. | Television set | $161.50 | $158.45 |
$299.95 | 85.7% |

To determine

**To calculate:** The amount of markup and percent markup based on cost, if the cost of a television set is

Explanation

**Given Information:**

The cost of a television set is

**Formula used:**

The formula for finding the mark-up cost states that subtract the values of selling price and the cost.

The formula for find the percentage of markup cost is to divide the markup cost of an item by the

Cost is;

**Calculation:**

The cost of a television set is

So, the value of *SP* and *C* is

Now, put the value of *SP* and *C* in

Sect-8.I P-1TIESect-8.I P-2TIESect-8.I P-3TIESect-8.I P-4TIESect-8.I P-5TIESect-8.I P-6TIESect-8.I P-1RESect-8.I P-2RESect-8.I P-3RESect-8.I P-4RE

Sect-8.I P-5RESect-8.I P-6RESect-8.I P-7RESect-8.I P-8RESect-8.I P-9RESect-8.I P-10RESect-8.I P-11RESect-8.I P-12RESect-8.I P-13RESect-8.I P-14RESect-8.I P-15RESect-8.I P-16RESect-8.I P-17RESect-8.I P-18RESect-8.I P-19RESect-8.I P-20RESect-8.I P-21RESect-8.I P-22RESect-8.I P-23RESect-8.I P-24RESect-8.I P-25RESect-8.II P-7TIESect-8.II P-8TIESect-8.II P-11TIESect-8.II P-1RESect-8.II P-2RESect-8.II P-3RESect-8.II P-4RESect-8.II P-5RESect-8.II P-6RESect-8.II P-7RESect-8.II P-8RESect-8.II P-9RESect-8.II P-10RESect-8.II P-11RESect-8.II P-12RESect-8.II P-13RESect-8.II P-14RESect-8.II P-15RESect-8.II P-16RESect-8.II P-17RESect-8.II P-18RESect-8.II P-19RESect-8.II P-20RESect-8.II P-21RESect-8.II P-22RESect-8.II P-23RESect-8.III P-12TIESect-8.III P-13TIESect-8.III P-14TIESect-8.III P-15TIESect-8.III P-16TIESect-8.III P-1RESect-8.III P-2RESect-8.III P-3RESect-8.III P-4RESect-8.III P-5RESect-8.III P-6RESect-8.III P-7RESect-8.III P-8RESect-8.III P-9RESect-8.III P-10RESect-8.III P-11RESect-8.III P-12RESect-8.III P-13RESect-8.III P-14RESect-8.III P-15RESect-8.III P-16RESect-8.III P-17RESect-8.III P-18RESect-8.III P-19RESect-8.III P-20RESect-8.III P-21RESect-8.III P-22RESect-8.III P-23RECh-8 P-1CRCh-8 P-2CRCh-8 P-3CRCh-8 P-4CRCh-8 P-5CRCh-8 P-6CRCh-8 P-7CRCh-8 P-8CRCh-8 P-9CRCh-8 P-10CRCh-8 P-11CRCh-8 P-12CRCh-8 P-13CRCh-8 P-14CRCh-8 P-1ATCh-8 P-2ATCh-8 P-3ATCh-8 P-4ATCh-8 P-5ATCh-8 P-6ATCh-8 P-7ATCh-8 P-8ATCh-8 P-9ATCh-8 P-10ATCh-8 P-11ATCh-8 P-12ATCh-8 P-13ATCh-8 P-14ATCh-8 P-15AT

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