A store is instructed by corporate headquarters to put a markup of 25% on all items. An item costing $24 is displayed by the s

Question

3 years ago

11

A store is instructed by corporate headquarters to put a markup of 25% on all items. An item costing $24 is displayed by the s

tore manager at a selling price of $6. As an employee, you notice that this selling price is incorrect. Find the correct selling price. What was the manager's likely error?

Mathematics

2 answers:

larisa [96] · Answer 1 · 2022-05-16T19:30:46+03:00

Answer: The correct selling price is $29.97.

Step-by-step explanation:

Since we have given that

Cost price of an item = $27

Mark up rate = 11%

So, Amount of mark up would be

So, Amount after mark up would be

Hence, the correct selling price is $29.97.

The manager's likely error is that he has put the selling price the mark up amount only i.e $2.9≈$3 instead of adding the mark up amount to the cost price.

Elenna [48] · Answer 2 · 2022-05-16T20:55:27+03:00

Elenna [48]3 years ago

3 0

Answer:

hi

Step-by-step explanation:

A store is instructed by corporate headquarters to put a markup of 25​% on all items. An item costing ​$24 is displayed by the s

A store is instructed by corporate headquarters to put a markup of 25% on all items. An item costing $24 is displayed by the s