A purchaser paid $403.10 for a TV that cost the seller $290. If the seller's markup was 39% of the $290 cost, then what would be

Question

3 years ago

6

the percent markup based on the selling price? (Round your answer to the nearest tenth of a percent.)

1 answer:

CaHeK987 [17] · Answer 1 · 2022-04-07T15:46:37+03:00

Percent markup based on the selling price: 28.1%

Explanation:

The cost of the TV for the seller was

$c=\$290$

Of this, the markup of this price was 39%. Therefore, the value of the markup (in dollars) with respect to the cost for the seller was

$m=0.39\cdot 290 =\$113.1$

So, this was the markup relative to the cost for the seller.

The price paid by the purchaser instead is

$p=\$403.1$

Therefore, the percent markup based on the selling price (paid by the purchaser) is:

$\frac{m}{p}\cdot 100 = \frac{113.1}{403.1}\cdot 100 =0.281\cdot 100 = 28.1\%$

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