The local bakery applies a 155% markup on all baked goods. If it costs them $3.50 to make a batch of cookies, at what price do t

Question

atroni [7]

3 years ago

12

The local bakery applies a 155% markup on all baked goods. If it costs them $3.50 to make a batch of cookies, at what price do t

hey charge their customers for a batch of cookies? *

Mathematics

1 answer:

natka813 [3] · Answer 1 · 2022-09-19T12:57:54+03:00

The price charged for the batch of cookies is $8.925

Step-by-step explanation:

Marked price refers to the price at which an establishment offers to sale a product. For-profits to occur, marked price is always more than cost price (cost of producing the item)

Here the local bakery has marked up the price by 155%. This means that the local bakery has increased the marked price by 155% above the cost price accrued to them.

The cost price of the cookies= $ 3.5

Hence the increased marked price= (155/100) *3.5

Increased marked price= $ 5.425

Hence the charge customers need to pay for the cookies= increased marked price + cost price

Charge = $5.425+ $3.5= $8.925

the price charged for the batch of cookies is $8.925