Chapter 8.II, Problem 1RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

For the following items, calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

Percent |
Percent |
||||

Markup |
Markup |
||||

Amount of |
Based on |
Based on |
|||

Item |
Cost |
Markup |
Selling Price |
Cost |
Selling Price |

Sink |
$65.00 |
$50.00 |
$115,00 |
45% |

To determine

**To calculate:** The selling price and percent markup based on selling price if the cost of the sink is

Explanation

**Given Information:**

The cost of the sink is

**Formula used:**

The selling price can be calculated using the following equation:

The percent markup based on selling price is computed as:

**Calculation:**

Consider the provided data,

The cost of the sink is

So,

The Selling Price is:

Substitute

Therefore, the selling price is

Sect-8.I P-1TIESect-8.I P-2TIESect-8.I P-3TIESect-8.I P-4TIESect-8.I P-5TIESect-8.I P-6TIESect-8.I P-1RESect-8.I P-2RESect-8.I P-3RESect-8.I P-4RE

Sect-8.I P-5RESect-8.I P-6RESect-8.I P-7RESect-8.I P-8RESect-8.I P-9RESect-8.I P-10RESect-8.I P-11RESect-8.I P-12RESect-8.I P-13RESect-8.I P-14RESect-8.I P-15RESect-8.I P-16RESect-8.I P-17RESect-8.I P-18RESect-8.I P-19RESect-8.I P-20RESect-8.I P-21RESect-8.I P-22RESect-8.I P-23RESect-8.I P-24RESect-8.I P-25RESect-8.II P-7TIESect-8.II P-8TIESect-8.II P-11TIESect-8.II P-1RESect-8.II P-2RESect-8.II P-3RESect-8.II P-4RESect-8.II P-5RESect-8.II P-6RESect-8.II P-7RESect-8.II P-8RESect-8.II P-9RESect-8.II P-10RESect-8.II P-11RESect-8.II P-12RESect-8.II P-13RESect-8.II P-14RESect-8.II P-15RESect-8.II P-16RESect-8.II P-17RESect-8.II P-18RESect-8.II P-19RESect-8.II P-20RESect-8.II P-21RESect-8.II P-22RESect-8.II P-23RESect-8.III P-12TIESect-8.III P-13TIESect-8.III P-14TIESect-8.III P-15TIESect-8.III P-16TIESect-8.III P-1RESect-8.III P-2RESect-8.III P-3RESect-8.III P-4RESect-8.III P-5RESect-8.III P-6RESect-8.III P-7RESect-8.III P-8RESect-8.III P-9RESect-8.III P-10RESect-8.III P-11RESect-8.III P-12RESect-8.III P-13RESect-8.III P-14RESect-8.III P-15RESect-8.III P-16RESect-8.III P-17RESect-8.III P-18RESect-8.III P-19RESect-8.III P-20RESect-8.III P-21RESect-8.III P-22RESect-8.III P-23RECh-8 P-1CRCh-8 P-2CRCh-8 P-3CRCh-8 P-4CRCh-8 P-5CRCh-8 P-6CRCh-8 P-7CRCh-8 P-8CRCh-8 P-9CRCh-8 P-10CRCh-8 P-11CRCh-8 P-12CRCh-8 P-13CRCh-8 P-14CRCh-8 P-1ATCh-8 P-2ATCh-8 P-3ATCh-8 P-4ATCh-8 P-5ATCh-8 P-6ATCh-8 P-7ATCh-8 P-8ATCh-8 P-9ATCh-8 P-10ATCh-8 P-11ATCh-8 P-12ATCh-8 P-13ATCh-8 P-14ATCh-8 P-15AT

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