Question

A music store marks up the instruments it sells by 30%. If the price on a trumpet says $104. How much did the store pay for it?

Answer 1

Answer:

A. $ 58.50

B. $ 80

C. No, it did not mark up 30%

Step-by-step explanation:

Since,

A. We have,

Mark up percentage = 30%

Actual price = $ 45,

 B. We have,

SP = $ 104,

  C.  We have,

AP = $ 75,

SP = $100,

Thus, mark up percentage =  

= 33.33 %

Hence, store did not mark up the price by 30%.

Answer 2

Answer:

$ 72.80

Step-by-step explanation:

30% of 104 = 0.30 * 104

                  = $ 31.20

Money paid by the store = 104 - 31.20

                                         = $ 72.80