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Chapter 3: Q. 149 (page 335)

In the following exercises, find 鈸� the amount of the mark-up and 鈸� the list price.

Daria bought a bracelet at original cost $16 to sell in her handicraft store. She marked the price up 45%.

Short Answer

Expert verified

Part a. The amount of the mark-up is $7.2.

Part b. The list price is $23.2.

Step by step solution

01

Part (a) Step 1. Given Information

The original cost of the bracelet is $16and she marked the price up 45%.

The objective is to find the amount of the mark-up and the list price.

02

Part (a) Step 2. Find the amount of the mark-up

The mark-up price is 45%of the original price that is $16.

So the mark-up price is given as

45%of16=0.45脳16=7.2

Thus the mak-up price is $7.2.

03

Part (b) Step 1. Find the list price

List price is equal to original cost plus the mark-up price.

So when the original cost is $16and mark-up price is $7.2then the list price is

16+7.2=23.2

So the list price is$23.2.

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