Answer:
a) 13/20 and 0.65
b) $13
c) $33
d) $455
e) $3.3
f) $29.7
g)$339.5
Step-by-step explanation:
Each hoodie costs the trader $20 and he intends to sell it at a Percentage markup of 65%
a) Write a percentage Markup value as a
I) Fraction
Percentage Markup = 65%
65% = 65/100 = 13/20
II) Decimal
= 65% = 65/100 = 0.65
b) Calculate the value of Markup of each hoodie
This is calculated as:
65% × Cost price
= 65% × $20
0.65 × $20 = $13
c) What price would the hoodies be?
Cost price of hoodie = $20
Percentage Markup = 65%
The selling price = x
Percentage Markup = Selling price - Cost price/Cost price
65% = x - $20/$20
Cross Multiply
0.65 × $20 = x - $20
13 = x - $20
x = $20 + 13
x = $33
Therefore, the selling price = $33
d) If the seller sells 35 hoodies on her first day, what is her profit.
Profit = Selling price - Cost price
Profit = $33 × 35 hoodies - $20 × 35 hoodies
Profit = $1155 - $700
Profit = $455
We are told that to improve sales, the seller gives a discount of 10% on selling price
Hence:
Selling price = $33
e) What is the discount amount for each hoodie
Discount Amount = % Discount × Selling price
Discount Amount = 10% × $33
= $3.3
f) What is the new selling price =
Old selling price - Discount amount
= $33 - $3.3
= $29.7
g) What profit does the seller make on each hoodie after the 10% discount for 35 hoodies
Profit = Selling price - Cost price
Profit = $29.7 × 35 hoodies - $20 × 35 hoodies
Profit = $1039.5 − $700
= $339.5
