menu
Hit Return to see all results
Chapter 8.II, Problem 21RE
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.A purse has a cost of $21.50 and a selling price of$51.99.a. What is the amount of markup on the purse?b. What is the percent markup based on cost?c. What is the corresponding percent markup based on selling price?

(a)

To determine

To calculate: The amount of Markup, for given, Cost is $21.50 and Selling Price is$51.99.

Explanation

Given Information:

The Cost is $21.50 and Selling Price is$51.99.

Formula used:

The amount of Markup can be calculated using the following equation:

Markup=Selling PriceCost or M=SPC

Calculation:

Consider the provided data, Cost $21.50, and Selling Price is$34.

Assume, SP=$51.99 and C =$21

(b)

To determine

To calculate: The percent markup based on cost, for given, Cost is $21.50 and amount of Markup is$30.49 computed in subpart (a).

(c)

To determine

To calculate: The percent markup based on Selling Price, for given, Selling Price is $51.99 and amount of markup computed in subpart (a) is$30.49.

### 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 Exercises 516, evaluate the given quantity. log22

Finite Mathematics and Applied Calculus (MindTap Course List)

#### For Problems 11-18, evaluate each expression. 4+324

Mathematical Applications for the Management, Life, and Social Sciences

#### In Exercises 58, evaluate the expression. 7. |2 6|

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

#### The normal plane to at t = 1 has equation:

Study Guide for Stewart's Multivariable Calculus, 8th

#### Sometimes, Always, or Never: The antiderivative of an elementary function is elementary.

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

#### Simplify each expression. 323/5

College Algebra (MindTap Course List)