Question

2 The owner of a store buys wooden benches for $50 each. She marks up the
price by 75%. For the last week of the season, she sells the remaining benches
for 30% off. How much profit does the owner make on each bench sold
during the last week of the season? Show your work.

Answer 1

Answer:

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Step-by-step explanation:

To calculate the profit made on each bench sold during the last week of the season, we need to consider the following steps:

Determine the selling price after the initial markup of 75%.

Apply the 30% discount to the selling price.

Calculate the profit made on each bench sold.

Let's break it down:

Selling price after markup:

Markup percentage = 75%

Markup amount = 75% of $50 = 0.75 * $50 = $37.50

Selling price = Cost price + Markup amount = $50 + $37.50 = $87.50

Selling price after 30% discount:

Discount percentage = 30%

Discount amount = 30% of $87.50 = 0.30 * $87.50 = $26.25

Final selling price = Selling price - Discount amount = $87.50 - $26.25 = $61.25

Profit made on each bench sold:

Profit = Selling price - Cost price = $61.25 - $50 = $11.25

So, the owner makes a profit of $11.25 on each bench sold during the last week of the season.