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majarm majarm
wrote...
Posts: 406
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6 years ago
Chris's Photographic Supplies sells a Minolta camera for $551.83. The markup is 72% of cost.
a) How much does the store pay for this camera?
b) What is the rate of markup based on selling price?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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Replies
wrote...
6 years ago
a) C + 0.72C = S
   1.72C = $551.83
   C = $320.83
   Cost is $320.83
b) M = 0.72(320.83) = $231.00
   Rate of Markup based on selling price =   = 41.8607%
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