The selling price of a box of crackers is $1.75 You mark the crackers up to $2.54 . What is the markup percentage?
2 answers:
The markup percentage is 45.14%
Step-by-step explanation:
The given is:
- The selling price of a box of crackers is $1.75
- You mark the crackers up to $2.54
We need to find the markup percentage
The markup percentage = × 100%
∵ The selling price of a box of crackers is $1.75
∴ Old = 1.75
∵ You mark the crackers up to $2.54
∴ New = 2.54
- Substitute these values in the rule above
∵ The markup percentage = × 100%
∴ The markup percentage = × 100%
∴ The markup percentage = 0.4514 × 100%
∴ The markup percentage = 45.14%
The markup percentage is 45.14%
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Answer:
$1,229.75
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
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First, change 3.25% into a decimal:
3.25% -> -> 0.0325
Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:
Lastly, subtract A from P to get the interest earned: