Question

Find the markup and the cost of the following item. Round answers to the nearest cent.

Answer 1

Answer:

1st question: M=22.62 while C=75.38

2nd question: M=.22 while C=1.97

Step-by-step explanation:

If a mirror costing x dollars is marked up 30%, then we have to find x such that 30%x+x is 98 dollars.

We are solving:

.3x+x=98

Combine like terms:

1.3x=98

Divide both sides by 1.3:

x=75.38

M=98-75.38=22.62

C=75.38

So M=22.62 while C=75.38.

If ream of paper cost x and is marked up 11%, then we have to find x such that 11%x+x is 2.19.

We are solving:

.11x+x=2.19

1.11x=2.19

x=1 97

M=2.19-1.97=.22

So M=.22 while C=1.97