Question

OPMT 1110: Business Mathematics Homework 3 8. A retailer makes a profit of $621 from the sale of a 50-inch Plasma television set. If they we a 23% rate of markup, how much do they sell the Plasma television set for electronics retailer makes a profit of $484 from the sale of a 50-inch plasma television set. If they maintain a 22% margin on all items, how much did the in on all items, how much did the TV set cost the retailer? set cos 10. A company marks up the co ny marks up the cost of all of items by 28%. If they want to have a sale, what is the um percentage they can reduce the selling price by before going below cost? hing store wants to price its clothing to achieve a 75% margin. What rate of markup should they use to achieve a 75% margin? 12. A company marks up the cost of all items by 400%. What is their percent margin

Answer 1

Ansucer :- 8) Profit from sale of TV Macklep I profit rate sell = $621 = 23% - Leat us assume, Cost = sell = x + 23% sell - 1.232 Then, Cost & sell - 10233€ = Praefit + $ 621 1.23*- x = $621 - 232 = $621 - $621 $ 2700 023 cost ef TV - sell of TV $ 2700 & 2700 + $621 = $3321

Prahy from sale - marzen Rate - Cost = $UEu = 22% = ? seul - Lost + $084 cost = x seuse + 22% 1.22% - seu sell - Then, sell - lost + su8Y 1022% - % + $084 1-22*-* - $484 .222 -8084 - Bu84 22 x 2200 cost of The Product is $2200 1 If company mackup the price the lost by 28% theni- selling pejce well be 100%. + 2870 = 128% of cost Let assume, If Cost is 100, then sell is 128 - so, la percentage we can reduce to selline Price to equal cost is :- २४ x 100 = 21.875% 128 Margin U Price 8710

21.875% is the mascemum can reduce the selling Salong below cost Percentages Price by before Note: If, Sale Price is 128. then cost is loo & Pralit 28 1. So, to reach ico from 128 a 21.875% of sale Poire is to be seeduce to equal up 10. 11) Price = cost & mark up I marzen - If company wants to acheive 75% masqen, they Should use 75% markup above cost of item. Example a company wants to acherice $75 of Profit by selling the product callilla cost is $ 100, then they should mark their Pecice as $175.