(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

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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.

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Chapter 8.I, Problem 15RE

Chapter 8.I, Problem 17RE

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Contemporary Mathematics for Business & Consumers

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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.