   Chapter 8.I, Problem 8RE ### 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

# Amount of Percent Markup Item Cost Markup Selling Price Based on Cost 8. Treadmill ___________ $880.00$2,335.00 _____

To determine

To calculate: The cost and percent markup of the treadmill for a given selling price $2,335 and the amount of markup is$880.

Explanation

Given Information:

The Selling Price of the treadmill is $2,335 and markup amount is$880.

Formula used:

The cost can be calculated using the following equation:

Cost=Selling PriceMarkup or C=SPM

The percent markup based on cost is computed as:

Percent Markup based on cost=MarkupCost or  %Mcost=MC

Calculation:

Consider the provided data,

The selling price of the treadmill $2,335 and markup amount is$880.

So, SP=$2,335 and M=$880

The cost can be computed as:

C=SPM

Substitute SP=$2,335 and M=$880 in C=SPM

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