Question

72. Ace Tire recaps tires at a cost of $20 per tire. Past experience shows that 12% of the recapped tires must be sold as seconds for $25. If they recap 400 tires and a markup of 100% of cost is desired, find the regular selling price per tire. 78. A store sells yogurt marked with a last date of sale. The owners pay 31 cents a container and use a markup of 38% of selling price. On the last day of sale they reduce the price to 33 cents, and continue to sell them for an additional two days. After that any remaining containers are discarded. In a shipment of 100 containers they expect to sell 5% at the reduced price and to discard about 3%. What original price would give the store the required markup for the entire shipment?

Answer 1

Answer to Question 72 (400*20) (8000*100%) Total cost for recapping 400 tires Expected mark up Total sales value for 400 tires Less- Sales value for 12% tires Remaining sales value for regular tires No. of regular tires Selling price for regular tires $ $ $ $ $ (400*12%*25) 8,000 8,000 16,000 (1,200) 14,800 352 42.05 [400-(400*12%)] (14800/352) $ Conclusion The regular selling price is $42.05 per tire. Answer to Question 76 5 In a shipment of 100 containers, No. of containers sold at reduced prices No. of containers discarded Balance containers sold at regular price (100*5%) (100*3%) (100-5-3) 3 92 (100*0.31) (31*38/62) (31+19) (5*0.33) Total cost for 100 containers Expected mark up Total sales value for 100 containers Less- Sales value for reduced price containers Less-Sales value for discarded containers Remaining sales value for regular containers No. of regular containers Selling price for regular containers $ $ $ $ $ $ 31.00 19.00 50.00 (1.65) (50-1.65-0) 48.35 92 0.53 (48.35/92) $ $ Conclusion The original selling price shall be 53 cents per container.