Question

Dr Leonard Bernstein owner of software solving inc determines that he must mark up the software he sell to clients by 60% of selling price. Leonard's costs for a project with the local bank will total $1200000. What selling price should Leonard put in the contract with the bank

Answer 1

Answer:

The right solution is "$1,920,000".

Step-by-step explanation:

Given:

Project cost,

= $1200000

Dr. Leonard sells by

= 60%,

The mark up value will be:

= $\frac{1200000\times 60}{100}$

= $720,000$ ($)

hence,

The selling price he should put with the bank will be:

= $Project \ cost+Mark \ up \ value$

= $1200000+720000$

= $1,920,000$ ($)