Hi,
I need help with this question. I am stuck on part 4
A merchant realizes a markup of $42 by selling an item at a markup of 37.5% of cost. The merchant's overhead expenses are 17.5% of the regular selling price. At a promotional sale, the item was reduced in price to $121.66.
1)What is the regular selling price?
Answer: $154
2)What is the rate of markup based on the regular selling price?
Answer: 27.27%
3)What is the rate of markdown?
Answer: 21%
4)What is the profit of loss during the promotional sale? [x4] (use negative number to represent the loss)
Answer:
Thank you for your help!
I need help with this question. I am stuck on part 4
A merchant realizes a markup of $42 by selling an item at a markup of 37.5% of cost. The merchant's overhead expenses are 17.5% of the regular selling price. At a promotional sale, the item was reduced in price to $121.66.
1)What is the regular selling price?
Answer: $154
2)What is the rate of markup based on the regular selling price?
Answer: 27.27%
3)What is the rate of markdown?
Answer: 21%
4)What is the profit of loss during the promotional sale? [x4] (use negative number to represent the loss)
Answer:
Thank you for your help!
Last edited: