Question

Cost of a radio: $43.95
Markup: 80%
Discount: 55%
Tax: 1%

Answer 1

Some of the values that can be obtained from the given parameters are as

follows;

• Profit is $35.16

• Selling price is $79.11

• Discount amount is $96.69

• Marked price is $175.8

• Amount paid is $79.9011

Reasons:

The cost is the amount by which the radio is obtained.

$Markup = \dfrac{Profit}{Cost}$

$Discount \ percentage = \dfrac{Discount }{Marked \ price} \times 100$

Discount = Listed price - Selling price

Tax amount = Total price × Tax rate

Therefore, we have;

Profit = Cost × Markup = 43.95 × 80% = 35.16

Selling price = Cost + Profit

Therefore;

Selling price = 43.95 + 35.16 = 79.11

• Selling price = $79.11

$Marked \ Price = \dfrac{Selling \ price}{1 - \dfrac{Percentage \ discount}{100} }$

 

$Marked \ Price = \dfrac{79.11}{1 - \dfrac{55}{100} } = 175.8$

• Marked price = $175.8

The discount = 175.8 - 79.11 = 96.69

• Discount amount = $96.69

Total amount paid = Selling price + Tax

Therefore;

Total amount paid = 79.11 + 0.01 × 79.11 =  79.9011

• Total amount paid = $79.9011

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