Question

Anita Alvarez sells clothing for Toddler’s Shop. Baby blankets sell for $29.99 after a markup rate based on cost of 109%. Find the markup.

Answer 1

Answer:

The markup is $2.48

Step-by-step explanation:

* Lets explain the problem

- There is a cost price we don't know it

- There is a selling price we know it

- There is a markup we want to find it

- The relation between the cost price , the selling price and the markup

 is ⇒ selling price - cost price = markup

∵ The percentage of the selling price is 109%

∵ The percentage of the cost price is 100%

- That means the markup rate = 109% - 100% = 9%

∵ The selling price is $29.99

- Lets use the ratio to find the cost price

∵ selling price / cost price = selling price% / cost price%

∴ 29.99 / cost price = 109 / 100

- By using cross multiplication

∴ cost price × 109 = 29.99 × 100

∴ cost price × 109 = 2999

- Divide both sides by 109

∴ cost price = $27.51

∵ The markup = selling price - cost price

∴ The markup = 29.99 - 27.51 = $2.48

* The markup is $2.48