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Alex73 [517]
3 years ago
14

Help me understand this please

SAT
1 answer:
Hatshy [7]3 years ago
4 0
<h3>Answer:</h3>

Markup on cost: 24%

Selling price: $39.70

<h3>Explanation:</h3>

A percent is a ratio with a base of 100. The word "percent" literally means "per 100", or "divided by 100". The symbol (%) is a shorthand symbol for /100 (divided by 100).

So, any percent is a ratio exressed using 100 as the denominator. An easy way to find it is to perform the division (find the ratio as a decimal), then multiply by 100%.

You want markup as a percentage of cost, so ...

... markup/cost × 100% = 7.80/31.90 × 100% ≈ 0.244514 × 100%

... ≈ 24.45% ≈ 24% . . . . (rounded)

_____

Of course, the selling price is the total of the cost price and the markup:

... selling price = cost price + markup

... = $31.90 + 7.80 = $39.70

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