Explanation Given Information: The cost is $ 1 , 350 and selling price is $ 3 , 499 of a computer. Formula used: The markup amount can be calculated using the following equation: Markup = Selling Price − Cost or M = S P − C The percent markup based on cost is computed as: Percent Markup based on cost = Markup Cost or % M cost = M C Calculation: Consider the provided data, Cost of a computer is $ 1 , 350 and Selling price is $ 3 , 499 . So, C = $ 1 , 350 and S P = $ 3 , 499 . The amount of markup M is: M = S P − C Substitute SP = $ 3 , 499 and C = $ 1 , 350 in M = S P − C

Contemporary Mathematics For Business & Consumers, Loose-leaf Version

8th Edition

ISBN: 9781305867185

Author: Robert Brechner, Geroge Bergeman

Publisher: South-Western College Pub

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Chapter 8.I, Problem 7RE

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Chapter 8.I, Problem 6RE

Chapter 8.I, Problem 8RE

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Contemporary Mathematics For Business & Consumers, Loose-leaf Version

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...

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The markup amount and percent markup based on the cost for given cost $ 1 , 350 and selling price $ 3 , 499 .

Solution Summary: The author calculates the markup amount based on the cost of a computer and the selling price.

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