Hi, need help on this simple division question (:
2 answers:
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Given parameters:
Mark up percentage = 150%
Original cost = $488
Sales tax = 5%
Unknown:
His total cost = ?
Solution:
Marking up a good is the amount a sell adds to a product which makes its selling price usually for a profit.
Since the emerald was marked up by 150%;
New cost = (1 + 1.5) x $488 = $1220
Now, the additional tax was 5%;
Tax = x 1220 = $61
So, the total cost = New cost + tax = $1220 + $61 = $1281