Chapter 3: Q. 150 (page 335)

In the following exercises, find ⓐ the amount of the mark-up and ⓑ the list price.
Regina bought a handmade quilt at original cost $ $120$ to sell in her quilt store. She marked the price up $55$ %.

Short Answer

Expert verified

Part a. The amount of the mark-up is $$ 66$ .

Part b. The list price is $$ 186$ .

Step by step solution

Part (a) Step 1. Given Information

The original cost of a handmade quilt is $ $120$ and she marked the price up $55 %$ .

The objective is to find the amount of the mark-up and the list price.

Part (a) Step 2. Find the amount of the mark-up

The mark-up price is $55 %$ of the original price that is $$ 120$ .

So the mark-up price is given as

$\begin{array}{rcl} 55 % o f 120 & = & 0.55 \times 120 \\ = & 66 \end{array}$

Thus the mark-up price is $$ 66$ .

Part (b) Step 1. Find the list price

List price is equal to original cost plus the mark-up price.

So when the original cost is $$ 120$ and mark-up price is $$ 66$ then the list price is

$120 + 66 = 186$

So the list price is $$ 186$ .

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In the following exercises, find ⓐ the amount of the mark-up and ⓑ the list price.
Regina bought a handmade quilt at original cost $ $120$ to sell in her quilt store. She marked the price up $55$ %.

Short Answer

Step by step solution

Part (a) Step 1. Given Information

Part (a) Step 2. Find the amount of the mark-up

Part (b) Step 1. Find the list price

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In the following exercises, find ⓐ the amount of the mark-up and ⓑ the list price.Regina bought a handmade quilt at original cost $120 to sell in her quilt store. She marked the price up 55%.

Short Answer

Step by step solution

Part (a) Step 1. Given Information

Part (a) Step 2. Find the amount of the mark-up

Part (b) Step 1. Find the list price

One App. One Place for Learning.

Most popular questions from this chapter

Recommended explanations on Math Textbooks

Discrete Mathematics

Mechanics Maths

Logic and Functions

Statistics

Calculus

Probability and Statistics

Study anywhere. Anytime. Across all devices.

In the following exercises, find ⓐ the amount of the mark-up and ⓑ the list price.
Regina bought a handmade quilt at original cost $ $120$ to sell in her quilt store. She marked the price up $55$ %.