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1 year ago

A music store sells music equipment at a 35%

Mathematics

1 answer:

Talja [164]1 year ago

4 0

The selling price of an equipment costing $150.00 with 35% markup is $202.50

<h3>What is an equation?</h3>

An equation is an expression that shows the relationship between two numbers and variables.

An independent variable is a variable that does not depend on any other variable for its value whereas a dependent variable is a variable that depend on any other variable for its value.

Given that the mark up is 35%, hence:

Markup = [(selling price - cost price)/cost price] * 100%

Substituting:

$202.50

Selling price = $202.50

The selling price of an equipment costing $150.00 with 35% markup is $202.50

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If the flotation costs are 2 percent of gross proceeds, and gross proceeds are $250,000, what is the dollar amount of flotation

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The dollar amount of the flotation costs by percent of gross proceeds is $5,000

We need to know about the percent theory first, percent is per 100. So when A is 1% of B it means that

A = 1/100 x B

From the question, we know that

The gross proceeds is given by = $250,000 and

the flotation cost is given by = 2% of gross proceeds.

We can write the flotation cost as

Flotation cost = 2/100 x $250,000

Flotation cost = 2/100 x $250,000

Flotation cost = $5,000

Hence, the dollar amount of the flotation costs is $5,000

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