Chapter 2: Q. 2.48 (page 125)

Find ⓐ the amount of mark-up and ⓑ the list price: The Auto Resale Store bought Pablo’s Toyota for $$ 8500$ . They marked the price up $35 %$ .

Short Answer

Expert verified

Amount of mark-up = $$ 2975$

List price = $$ 11475$

Step by step solution

Part (a). Step (1). Use the formula for the mark-up amount.

Formula used for the mark-up amount,

Mark-up amount = Mark-up rate $\times$ Original amount

From the question,

Mark-up rate = $35 %$

Original amount = $$ 8500$

Substitute these values in the formula,

Mark-up amount = $35 % \times $ 8500$

= $\frac{35}{100} \times 8500$

= $$ 2975$

Part (b). Step (1). Use the formula for the list amount.

Formula to be used to find the list amount,

List amount = Mark-up amount + Original price

Original price = $$ 8500$

Mark-up amount = $$ 2975$ $$ 2975$

Substitute the values in the formula,

List price = $$ 8500 + $ 2975$

= $$ 11475$

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Find ⓐ the amount of mark-up and ⓑ the list price: The Auto Resale Store bought Pablo’s Toyota for $$ 8500$ . They marked the price up $35 %$ .

Short Answer

Step by step solution

Part (a). Step (1). Use the formula for the mark-up amount.

Part (b). Step (1). Use the formula for the list amount.

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Find ⓐ the amount of mark-up and ⓑ the list price: The Auto Resale Store bought Pablo’s Toyota for $8500. They marked the price up 35%.

Short Answer

Step by step solution

Part (a). Step (1). Use the formula for the mark-up amount.

Part (b). Step (1). Use the formula for the list amount.

One App. One Place for Learning.

Most popular questions from this chapter

Recommended explanations on Math Textbooks

Pure Maths

Probability and Statistics

Decision Maths

Applied Mathematics

Logic and Functions

Discrete Mathematics

Study anywhere. Anytime. Across all devices.

Find ⓐ the amount of mark-up and ⓑ the list price: The Auto Resale Store bought Pablo’s Toyota for $$ 8500$ . They marked the price up $35 %$ .