A distributor purchases industrial fans for $160 each. Its profit is 10.00% on selling price and markup is 35.00% on selling price. During a trade show, if the distributor offers a markdown of 9.00% on its fans, calculate the reduced profit or loss made per fan. Ace of Diamonds purchased 66 diamond bracelets at $240 each and the regular selling price was $325. The store sold 50.00% of them at the regular selling price. During a sale, it sold another 30 of them at a markdown of 20.00%. The remaining units were sold at an additional markdown of 10.00%. Determine the net rate of markup based on total cost.
A distributor purchases industrial fans for $160 each. Its profit is 10.00% on selling price and markup is 35.00% on selling price. During a trade show, if the distributor offers a markdown of 9.00% on its fans, calculate the reduced profit or loss made per fan. Ace of Diamonds purchased 66 diamond bracelets at $240 each and the regular selling price was $325. The store sold 50.00% of them at the regular selling price. During a sale, it sold another 30 of them at a markdown of 20.00%. The remaining units were sold at an additional markdown of 10.00%. Determine the net rate of markup based on total cost.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A distributor purchases industrial fans for $160 each. Its profit is 10.00% on selling price and markup is 35.00% on selling price. During a trade show, if the distributor offers a markdown of 9.00% on its fans, calculate the reduced profit or loss made per fan.
Ace of Diamonds purchased 66 diamond bracelets at $240 each and the regular selling price was $325. The store sold 50.00% of them at the regular selling price. During a sale, it sold another 30 of them at a markdown of 20.00%. The remaining units were sold at an additional markdown of 10.00%. Determine the net rate of markup based on total cost.
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