Question

1. A music store marks up the instruments it sells by 30%.

Answer 1

Answer:

A. $ 58.50

B. $ 80

C. No, it did not mark up 30%.

Step-by-step explanation:

Since,

$\text{Mark up percentage}=\frac{\text{Store price-Actual price}}{\text{Actual price}}\times 100$

A. We have,

Mark up percentage = 30%

Actual price = $ 45,

$\implies 30=\frac{SP - 45}{45}\times 100$

$30\times 45 = 100SP - 4500$

$1350=100SP - 4500$

$5850 = 100SP$

$\implies SP = \ 58.50$

B. We have,

SP = $ 104,

$\implies 30=\frac{104-AP}{AP}\times 100$

$30AP = 10400 - 100AP$

$130AP=10400$

$AP=\ 80$

C.  We have,

AP = $ 75,

SP = $100,

Thus, mark up percentage = $\frac{100-75}{75}\times 100$

$=\frac{25}{75}\times 100$

$=\frac{1}{3}\times 100$

= 33.33 %

Hence, store did not mark up the price by 30%.