(a) Explanation Given Information: The selling price of calculators is $ 9.95 and its markup amount is $ 4.60 . Formula used: The cost can be calculated using the following equation: Cost = Selling Price − Markup or C = S P − M Calculation: Consider the provided data, The selling price of calculators is $ 9.95 and its markup amount is $ 4.60 . So, S P = $ 9.95 and M = $ 4 (b) To determine To calculate: The percent markup based on cost if the selling price is $ 9.95 and markup amount is $ 4.60 .

Contemporary Mathematics for Business & Consumers

8th Edition

ISBN: 9781305585447

Author: Robert Brechner, Geroge Bergeman

Publisher: Cengage Learning

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 8.I, Problem 16RE

(a)

To determine

To calculate: The cost of the calculators if the selling price is $9.95 and the markup amount is $4.60.

(b)

To determine

To calculate: The percent markup based on cost if the selling price is $9.95 and markup amount is $4.60.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 8.I, Problem 15RE

Chapter 8.I, Problem 17RE

Students have asked these similar questions

Solve the given symbolic initial value problem and sketch a graph of the solution. y"+y=38 (1-2); y(0) = 0, y'(0) = 2

Solve the following system of equations: 50x+20y=1800 10x+3y=300

5. State space models Consider the model T₁ = Tt−1 + €t S₁ = 0.8S-4+ Nt Y₁ = T₁ + S₁ + V₂ where (+) Y₁,..., Y. ~ WN(0,σ²), nt ~ WN(0,σ2), and (V) ~ WN(0,0). We observe data a. Write the model in the standard (matrix) form of a linear Gaussian state space model. b. Does lim+++∞ Var (St - St|n) exist? If so, what is its value? c. Does lim∞ Var(T₁ — Ît\n) exist? If so, what is its value?

Chapter 8 Solutions

Contemporary Mathematics for Business & Consumers

Ch. 8.I - For the following, use the basic retailing...Ch. 8.I - For the following, use the basic retailing...Ch. 8.I - Prob. 3TIE Ch. 8.I - Prob. 4TIE Ch. 8.I - Prob. 5TIE Ch. 8.I - Prob. 6TIE Ch. 8.I - Prob. 1RE Ch. 8.I - For the following items, calculate the missing...Ch. 8.I - Prob. 3RE Ch. 8.I - For the following items, calculate the missing...

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.

The cost of the calculators if the selling price is $ 9.95 and the markup amount is $ 4.60 .

Solution Summary: The author calculates the cost of calculators if the selling price is 9.95 and its markup amount.