Question

Pyotr Tchaikovsky Sporting Goods operates on a 45% overhead based on the selling price, which results in an overhead of $65.34 on the newest version of an air hockey game set. If the air hockey game set costs Pyotr Tchaikovsky Sports $49.32, find the selling price, the markup, and the net profit.

Answer 1

Answer:

Selling price of hockey game set is $145.32 , markup price is $210.54 and profit is $96 .

Step-by-step explanation:

Let us assume that the selling price of hockey game set be x .

As given

Pyotr Tchaikovsky Sporting Goods operates on a 45% overhead based on the selling price, which results in an overhead of $65.34 on the newest version of an air hockey game set.

45% is written in the decimal form .

$= \frac{45}{100}$

= 0.45

Thus the equation becomes  

0.45 × x = 65.34

0.45x = 65.34

$x = \frac{65.34}{0.45}$

x = 145.2

Therefore the selling price of the hockey game set is $145.2 .

Thus

Markup price = Selling price + Overhead Price

                      = $145.2 + $65.34

                      = $ 210.54

As given

If the air hockey game set costs Pyotr Tchaikovsky Sports $49.32 .

i.e Cost price of the  hockey game set = $ 49.32

Profit = Selling price -  Cost price

         = 145.32 - 49.32

         = $ 96

Therefore selling price of hockey game set is $145.32 , markup price is $210.54 and profit is $96 .