Question:
Nate and Isaac have gotten quite a few jobs using their discounted price. In fact, with the holiday season approaching, they feel they can raise their price above the original price of $649 for 4 hours. They decide to mark up the price of $649 by 10% Using the original amount and the markup you just found, determine their new price for 4 hours of work
Answer:
The new price for 4 hours of work is $ 713.9
Solution:
From given,
Original price = $ 649
They decide to mark up the price of $649 by 10%
Mark up rate = 10 %
To find: New price
Let us first find the markup price
Markup price is 10 % of original price
Therefore,
Markup price = 10 % of 649
[tex]Markup\ price = 10 \% \times 649\\\\Markup\ price = \frac{10}{100} \times 649\\\\Markup\ price = 0.1 \times 649\\\\Markup\ price = 64.9[/tex]
Thus markup price is $ 64.9
Determine their new price for 4 hours of work
New price = original price + markup price
New price = 649 + 64.9 = 713.9
Thus the new price for 4 hours of work is $ 713.9