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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

For the following, use the basic retailing equation to solve for the unknown.

The 19th Hole sells a dozen golf balls for $28.50. If the distributor was paid $16.75, what is the amount of the markup?

To determine

To calculate: The amount of the markup if the selling price for dozens of golf balls is $28.50 and the cost price is $16.75.

Explanation

Given Information:

The selling price and the cost-price of the golf ball is $28.50 and $16.75 respectively.

Formula used:

The markup cost is the difference of the selling price and cost of an object. And, it is written as;

M = SPC

Calculation:

The selling price and the cost-price of the golf ball is $28.50 and $16.75 respectively.

So, the value of SP and C is $28.50 and $16.75 respectively.

Now, put the values $28.50 for SP and $16

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