Mark has opened two credit cards in the last year. Use the information on each credit card located in the table below to answer
2 answers:
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a) Mrs. Nelson will pay $45 for the speaker at Kohl's.
b) Mrs. Nelson would pay $43.70 for the speaker at Target.
c) Mrs. Nelson would get the best deal from Target's.
Step-by-step explanation:
Selling price at Kohl = $60.00
Discount coupon = 25%
Purchase price of Target = $38.00
Mark up = 15%
a.) How much would Mrs. Nelson pay for the speaker at Kohl’s?
Discount = 25% of selling price
Discount amount =
Discount amount = $15
Cost after discount = Selling price - Discount amount
Cost after discount = 60-15 = $45
Mrs. Nelson will pay $45 for the speaker at Kohl's.
b.) How much would Mrs. Nelson pay for this speaker at Target?
Mark up = 15% of purchase price
Mark up amount =
Mark up amount = $5.70
Price after mark up = Purchase price + Mark up amount
Price after mark up = 38.00+5.70 = $43.70
Mrs. Nelson would pay $43.70 for the speaker at Target.
c.) Which store would Mrs. Nelson get the best deal and by how much?
Difference between prices = 45-43.70 = $1.30
Mrs. Nelson will save $15 on Kohl's and she will get the speaker at $43.70 at Target's, therefore, she would save $1.30 more if she buys speaker from Target's.
Mrs. Nelson would get the best deal from Target's.
Keywords: mark up, discount
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