Darianerica1997
Darianerica1997 Darianerica1997
  • 21-12-2018
  • Mathematics
contestada

The cost of an office chair is $159 and the markup rate is 24% of the cost. What is A. the dollar markup and B. the selling price?

Respuesta :

sqdancefan
sqdancefan sqdancefan
  • 21-12-2018

Answer:

  • A. $38.16
  • B. $197.16

Step-by-step explanation:

A. The dollar amout of the markup is found by multiplying the markup rate by the dollar cost. "24% of cost" means "24% × cost". Of course, you know that 24% = 24/100 = 0.24.

... markup = 0.24 × cost = 0.24 × $159 = $38.16

B. The markup is the amount added to the cost to get the selling price. It is the amount by which the cost is marked up.

... selling price = cost + markup = $159.00 +38.16 = $197.16

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