Unless otherwise stated, round the final answer to 2 decimal places.
[52] A computer dealer buys NADIR brand VR headsets for $3,500 less 10%, 5% and sells them for $3,299.
- What is the Cost?
- What is the rate of markup?
- What is the percent margin?
[53] An outboard motor costs the retailer $500 less chain discounts of 30%, 25% and 5%: The company maintained a margin of 40% on all items. The motor was sold after it had been marked down 25%.
- What was the regular selling price?
- What was the actual selling price (sale price)?
- What rate of markup did they use? (based on part 2)
[54] A souvenir stand bought 300 hockey sweaters for $15 each. They sold 170 at the regular selling price of $30 each but had to sell another 70 sweaters at a 35% discount (markdown) near the end of the hockey season and the remaining sweaters were cleared by selling them at a breakeven price which exactly covered the cost of the sweaters plus overhead. Overhead (operating expenses) are roughly 25% of cost.
- What was the selling price per sweater for the 70 sweaters sold near the end of the season?
- What was the selling price per sweater for those sweaters sold at the breakeven price?
- What was the gross profit (loss) and net profit earned from the sale of the 300 sweaters?
[55] Wilma Inc. prices its products to provide a 25% margin. What rate of markup do they use?
[56] You know that a TV retailer makes $50 on the sale of a certain model of television set and the retailer has a markup policy of 20% of cost.
- How much did this TV set cost the retailer?
- What is the selling price of the TV set?
- Find the percent margin.
[57] A diamond ring sells for $4,500. If the rate of markup is 110%, what did the ring cost the retailer? What is the percent margin?
[58] An item that cost the dealer $350 less 35% and 12.5% carries a price tag at a markup of 150% of cost. For quick sale, the item was reduced 30%. What was the sale price?
[59] The selling price of an automobile is $9,500. If the markup is 15% of cost and the operating expenses are 2% of the selling price, how much is the gross profit (markup in $)? What is the net profit?
[60] ABC Co. prices its products to provide a 43.5% margin. What rate of markup do they use?
[61] A bookstore has a policy of maintaining a margin of 20%.
- If an item costs $90, how much should it sell for?
- If another book sells for $120, how much did it cost?
[62] The regular selling price of merchandise sold in a store includes a margin of 40%. During a sale, an item that costs the store $180 was marked down 20%. For how much was the item sold for?
[63] An item sells for $500. If the company uses a 100% rate of markup, what is the cost of the item?
[64] Scoopy-Doo Pet Foods prices its pet food to maintain a 45% margin. A 7-kg bag of Woof-Woof dog food costs $27.50. Calculate the selling price.
[65] CK Winery sells its merlot red wine for $21.00. If the rate of markup is 200%, what did the wine cost the retailer? What is the percent margin?
[66] If you knew that an appliance dealer makes $100 on the sale of a certain model of washing machine and the dealer has a markup policy of 20% of cost, how much did this washer cost the dealer? What is the selling price of the washer? Find the percent margin.
[67] Find the cost of an item sold for $1,904 to realize a rate of markup of 40%.
[68] A retailer bought an article for $78 and his rate of markup is 32%. He sold this article in a sale after having marked it down by 30%. What is the sale price?
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