A paper clip is 7/8 inches. Each paper clip is $0.03. Lined up together they add up to 56inches. How much will it cost
1 answer:
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Answer:
Refer to the explanation.
Step-by-step explanation:
Let's take each one at a time.
1.
To solve for the complement, we simply subtract our markup rate by 100%.
100% - 30% = 70%
Now to solve for the selling price, we use the formula
Selling Price = $123.91
2.
We do the same process with the first number.
100% - 40% = 60%
SellingPrice = $366.67
3.
The same as the first two.
100% - 20% = 80%
SellingPrice = $111.88
4.
Now to solve for the markup rate, we use the formula:
In this case we first need to find the markup. The markup is the difference between the selling price and the cost.
Selling Price = $235.28
Cost = $199.99
Markup = $235.28 - $199.99
Markup = $35.29
Now the we know our markup, we can then solve for the markup rate using the formula.
MarkupRate = 0.1499 x 100 = 14.99% or 15%
5.
Now for the last one, we need to find for the cost. Let's use the selling price formula to find for the cost.
Selling Price = $30.77
Complement = 65% or 0.65
This will then give us.
We multiple both sides of the equation by 0.65 to leave our cost alone.
30.77 x 0.65 = Cost
Cost = $20