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Home Q & A Board Science-Related Homework Help Mathematics
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gewusel gewusel
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6 years ago
A natural gas oven cost a retailer $420.00 less 37%, 22%, 3.75%. It carries a regular selling price on its price tag at a markup of 65% of the regular selling price. During the end-of-season sale, the barbecue is marked down 42%.
a) What is the end-of-season sale price?
b) What rate of markup based on cost will be realized during the sale?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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#1
6 years ago
a)    Cost = 420(1-0.37)(1-0.22)(1-0.0375) = $198.65
   Regular selling price = Cost + markup
   S = 198.65 + .65S
   .35S = 198.65
   S = $567.57
   Sale price = 567.57 - 0.42(567.57)
   = 567.57 - 238.38 = $329.19
b)    Markup realized = 329.19 - 198.65 = 130.54
   Rate of markup realized on cost =   = 65.7136%
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