Explanation Given Information: The cost of the telephone is $ 75 and percent markup based on selling price is 45 % . Formula used: The Selling Price can be calculated using the following equation: Selling Price = Cost 100 % − % M SP or S P = C 100 % − % M S P The amount of markup can be calculated using the following equation: Markup = Selling Price − Cost or M = S P − C Calculation: Consider the provided data, The cost of the telephone is $ 75 and percent markup based on selling price is 45 % . So, C = $ 75 and % M S P = 45 % . The Selling Price can be calculated as, S P = C 100 % − % M S P Substitute C = $ 75 and % M S P = 45 % in S P = C 100 % − % M S P

Contemporary Mathematics For Business & Consumers, Brief Edition, Loose-leaf Version

8th Edition

ISBN: 9781305867192

Author: Robert Brechner, Geroge Bergeman

Publisher: South-Western College Pub

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Chapter 8.II, Problem 3RE

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To calculate: The selling price and the amount of markup if the cost of the telephone is $75 and percent markup based on selling price is 45%.

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Chapter 8.II, Problem 2RE

Chapter 8.II, Problem 4RE

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Chapter 8 Solutions

Contemporary Mathematics For Business & Consumers, Brief Edition, 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 selling price and the amount of markup if the cost of the telephone is $ 75 and percent markup based on selling price is 45 % .

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

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To calculate: The selling price and the amount of markup if the cost of the telephone is $75 and percent markup based on selling price is 45%.

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Chapter 8 Solutions