Chapter 3: Q. 151 (page 335)

In the following exercises, find ⓐ the amount of the mark-up and ⓑ the list price.
Tom paid $ $0.60$ a pound for tomatoes to sell at his produce store. He added a $33$ % mark-up.

Short Answer

Expert verified

Part a. The amount of the mark-up is $$ 0.198$ .

Part b. The list price is $$ 0.798$ .

Step by step solution

Part (a) Step 1. Given Information

The original cost of a pound of tomatoes is $ $0.60$ and he marked the price up $33 %$ .

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 $33 %$ of the original price that is $$ 0.60$ .

So the mark-up price is given as

$\begin{array}{rcl} 33 % o f 0.60 & = & 0.33 \times 0.60 \\ = & 0.198 \end{array}$

Thus the mark-up price is $$ 0.198$ .

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 $$ 0.60$ and mark-up price is role="math" localid="1647161789232" $$ 0.198$ then the list price is

$0.60 + 0.198 = 0.798$

So the list price is $$ 0.798$ .

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In the following exercises, find ⓐ the amount of the mark-up and ⓑ the list price.
Tom paid $ $0.60$ a pound for tomatoes to sell at his produce store. He added a $33$ % mark-up.

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.Tom paid $0.60 a pound for tomatoes to sell at his produce store. He added a 33% mark-up.

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

Probability and Statistics

Pure Maths

Applied Mathematics

Mechanics Maths

Theoretical and Mathematical Physics

Calculus

Study anywhere. Anytime. Across all devices.

In the following exercises, find ⓐ the amount of the mark-up and ⓑ the list price.
Tom paid $ $0.60$ a pound for tomatoes to sell at his produce store. He added a $33$ % mark-up.