   Chapter 8.I, Problem 6RE ### 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

# Item Cost Amount of Markup Selling Price Percent Markup Based on Cost 6. Hat $46.25$50.00 $96.25 108 .1% To determine To calculate: The selling price and percent markup based on cost, if the cost of a hat is$46.25 and the amount of markup is $50. Explanation Given Information: The cost of a hat is$46.25 and the amount of markup is $50. Formula used: The Selling Price can be calculated with the formula; Selling Price=Cost+Markup SP=C+M The formula for find the percentage of markup cost is to divide the markup cost of an item by the Cost is; %Mcost=MC Calculation: The cost of a hat is$46.25 and the amount of markup is $50. So, C =$46.25 and  M=$50. The selling price is given as: SP=C+M Substitute for M=$50 and  C=\$46

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