Question

Danice is reselling concert tickets and wants to markup the price at `\frac{1}{6}` of the original price, $231.00. What is the markup price for the concert ticket. Show all your steps.

Answer 1

Given:

Original price = $231.00

Markup price is $\dfrac{1}{6}$ of the original price.

To find:

The markup price for the concert ticket.

Solution:

It is given that, markup price is $\dfrac{1}{6}$ of the original price. So,

$\text{Markup price}=\dfrac{1}{6}\times \text{Original price}$

$\text{Markup price}=\dfrac{1}{6}\times 231$

$\text{Markup price}=\dfrac{231}{6}$

$\text{Markup price}=38.5$

Therefore, the markup price for the concert ticket is $38.5.