BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

Solutions

Chapter
Section
BuyFindarrow_forward

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.

Video Depot uses a 40 % markup based on selling price for its video game systems. On games and accessories, they use a 30% markup based on selling price. (See advertisement.)

a. What is the cost and the amount of the markup of the video game system?

b. What is the cost and the amount of the markup of the Sports Package game?

c. As a promotion this month, the manufacturer is offering its dealers a rebate of $5.50 for each additional remote sold. What is the cost and percent markup (rounded to the nearest tenth of a percent) based on selling price?

(a)

To determine

To calculate: The cost and amount of markup of the video game system if the selling price is $199.99 and the percent markup based on selling price is 40%.

Explanation

Given Information:

The selling price is $199.99 and the percent markup based on selling price is 40%.

Formula used:

The cost is calculated by using the formula,

C=SP(100%%MSP)

Where SP is the selling price, C is the cost and MSP is the percent markup on selling price.

The amount of markup is calculated by using the formula,

M=SPC

Where SP is the selling price, C is the cost and M is the percent markup.

Calculation:

The selling price is $199.99 and the percent markup based on selling price is 40%.

So, SP=$199.99 and %MSP=40%.

The cost can be calculated using the formula,

C=SP(100%%MSP)

Substitute SP=$199.99 and %MSP=40% in the above formula,

C=SP(100%%MSP) =199

(b)

To determine

To calculate: The cost and amount of markup for sports package game if the selling price is $49.99 and the percent markup based on selling price is 30%.

(c)

To determine

To calculate: The cost and new percent markup based on selling price for additional remote if the selling price is $39 and the percent markup based on selling price is 30%.

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

Additional Math Solutions

Find more solutions based on key concepts

Show solutions add

In BAT, BRBTAR, and mRBT=20. Find: a mT b mARB c mA

Elementary Geometry For College Students, 7e

Factoring Completely Factor the expression completely. 116. x6 + 64

Precalculus: Mathematics for Calculus (Standalone Book)

In Exercises 23-32, determine whether the statement is true or false. Give a reason for your choice. 28. (22 3...

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Expand each expression in Exercises 122. x(3x+y)

Finite Mathematics and Applied Calculus (MindTap Course List)

Multiply. (a1)(a+6) (cos1)(cos+6)

Trigonometry (MindTap Course List)

The 2000 Census showed that the town of Grandville had a population of 1020 residents. The 2010 Census was 1170...

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Describe the major elements of the APA ethical guidelines for nonhuman subjects in research.

Research Methods for the Behavioral Sciences (MindTap Course List)