Problem #1. A scientific calculator has a cost of $17.29 and a selling price of $26.49. (a) What is the amount of markup on the calculator? (b) What is the percent markup based on cost? (c) What is the corresponding percent markup based on selling price?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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Problem #1. A scientific calculator has a cost of $17.29
and a selling price of $26.49.
(a) What is the amount of markup on the calculator?
(b) What is the percent markup based on cost?
(c) What is the corresponding percent markup based on
selling price?
Problem #2. You make 90 fancy chocolate tarts for
Valentine's Day bake sale at a cost of $3.25 each. If a
spoilage rate of 5.5% is anticipated, at what price should
you sell the tarts to achieve 35.5% markup based on
cost?
Transcribed Image Text:Problem #1. A scientific calculator has a cost of $17.29 and a selling price of $26.49. (a) What is the amount of markup on the calculator? (b) What is the percent markup based on cost? (c) What is the corresponding percent markup based on selling price? Problem #2. You make 90 fancy chocolate tarts for Valentine's Day bake sale at a cost of $3.25 each. If a spoilage rate of 5.5% is anticipated, at what price should you sell the tarts to achieve 35.5% markup based on cost?
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