8 2/3 - 3 14/15 pls helpp
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Answer:
The average cost of each tie is $56.350
Step-by-step explanation:
We are given that a men tie buyer plans to promote a $39.99 tie. Consequently, the buyer purchases 450 ties
So, Cost of 450 ties =
An order for 100 ties that cost $20.00 each
Cost of 100 ties =
Total cost price = 17995.5+2000 = 19995.5
Let the selling price of 1 tie be x
Total ties = 450+100 = 550
So, SP of 550 ties =550x
Now we are given that markup is 55%
So, Profit % = 55%
So,
Substitute the values
Hence The average cost of each tie is $56.350