   Chapter 8.II, Problem 17RE ### 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

# Solve the following word problems. Round dollars to the nearest cent and percent to the nearest tenth of a percent.Galaxy Tools manufactures an 18-volt drill at a cost of $38.32. It imports rechargeable battery packs for$20.84 each. Galaxy offers its distributors a “package deal" that includes a drill and two battery packs. The markup is 36% based on selling price. What is the selling price of the package?

To determine

To calculate: The selling price of the package if the cost of the drill is $38.32 and percent markup based on selling price is 36%. Explanation Given Information: The cost of the drill is$38.32, the cost of each battery is $20.84 and percent markup based on selling price is 36%. Formula used: The selling price can be calculated using the following equation: Selling Price=Cost100%percent markup based on selling price or SP=C100%%MSP Calculation: Consider the provided data, The cost of the drill is$38.32, the cost of each battery is $20.84 and percent markup based on selling price is 36%. The Cost of the package deal is equal to the sum of the cost of the drill and the cost of two battery packs. Cost of the package=Cost of deal+Cost of two batteries=38.32+(20.84×2)=80 So, C=$80 and %MSP=36%

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