An item that costs a retailer $58.50 is normally sold for $95. During a storewide sale, the
Question:
An item that costs a retailer $58.50 is normally sold for $95. During a storewide sale, the item was marked down by 30%.
a. What is the normal rate of markup based on cost?
b. What was the reduced sale price?
c. By how much was the item n1arked down in dollars?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
a M S C 95 5850 3650 b S redu...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
A gas barbecue cost a retailer $420 less 33 13%, 20%, and 5%. It carries a regular selling price on its price tag at a markup of 60% of the regular selling price. During the end-of-season sale, the...
-
A bedroom suite that cost a dealer $1800 less 37.5% and 18% carries a price tag with a regular selling price at a markup of 120% of cost. For quick sale, the bedroom suite was marked down 40%. (a)...
-
An item that costs a store $152.50 is marked up by $47.45. Determine: a. The rate of markup on cost. b. The rate of markup on selling price.
-
The Kelly Services, Inc., and Subsidiaries statements of earnings from its 2008 annual report are presented in Exhibit 5-4. Required a. Using the statements of earnings, prepare a vertical...
-
According to Newton's law of gravity, the value of g at a given location is inversely proportional to the square of the distance of the location from the center of the earth. Determine the weight of...
-
Why is the EAR for 6% APR , with semi-annual compounding, higher than 6%?
-
Show that for quasimonochromatic, stationary thermal light, the fourth-order coherence function \[ \boldsymbol{\Gamma}_{1234}\left(t_{1}, t_{2}, t_{3}, t_{4} ight)=E\left[\mathbf{u}\left(P_{1}, t_{1}...
-
Odd Wallow Drinks is considering adding a new line of fruit juices to its merchandise products. This line of juices has the following prices and costs: Selling price per case (24 bottles) of juice ....
-
Compute the missing amount in the accounting equation for each entity from the financial information presented: Assets Liabilities Equity Your Basket $ ? $ 28,000 46,000 Flowers and Gifts 85,000 ?...
-
The City of Castletons General Fund had the following post-closing trial balance at June 30, 2022, the end of its fiscal year: Debits Credits Cash $ 265,120 Sales Taxes Receivable 11,000 Taxes...
-
A sporting goods store buys a hockey stick for $47.85 and sells it for $87. Operating expenses are estimated to be 20% of cost. What is the store's operating profit per unit? What is the rate of...
-
A built-in Kitchenaid refrigerator costs Morrison's Appliance Centre $5000 Jess 30% and 15%. The normal rate of markup on cost is 90%. The refrigerator is marked down 30% in a sale. What is the sale...
-
Determine whether the statement is true or false. If it is true, explain why. If it is false, explain why or give an example that disproves the statement. For any vectors u, v, and w in V 3 , (u + v)...
-
2008 Global Financial Crisis commercial and investment banking - do you think there are lessons that have been learned and applied in the financial industry today to prevent a similar crisis? Or do...
-
You have come to work at Brna banka and have 2 companies under consideration, on the one hand Stl og Hnfur ehf and on the other hand Haus og Hali ehf. Stl og Nnfur has an expected return on the...
-
Poor agricultural practices a. Outline the major problems being faced by a country suffering from ONE of these situations. b. What tangible suggestions could you offer that curb/ reduce the problem...
-
As a CEO of a company, how will you positively argue to the board members that team incentives maximize team performance and help to reduce social loafing in groups? Provide reasonable...
-
Simplify: 36y10
-
Franca and Naheed are transferring $8,000 of accounts receivable from each of their sole proprietorships into a partnership. They have agreed that $7,000 of Franca's receivables is collectible but it...
-
Why is homeostasis defined as the "relative constancy of the internal environments? Does negative feedback or positive feedback tend to promote homeostasis?
-
What percentage of the CIs include the parameter p?
-
Do you think that the large-sample binomial confidence limit formula is adequate for this distribution?
-
1. Answer Problem 6.88 for a binomial distribution with n = 20 and p = .6? 2. Answer Problem 6.89 for a binomial distribution with n = 20 and p = .6. 3. Answer Problem 6.90 for a binomial...
-
Identify one type of business and describe that business and it's lending needs. Then describe what their potential lending needs may? Manufacturing Retail Wholesale Service Construction
-
Many investors believe the slope of yield curve is a leading economic indicator. Do you agree? Why? https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics?
-
Analyze the process for monitoring claims data for detecting potential fraud and abuse and describe how it is a crucial financial management process?
Study smarter with the SolutionInn App