TASK
8-15. Calculate the final selling price to the nearest cent and markdown percent to the nearest hundredth percent:
Original First Second Final selling price markdown markdown Markup markdown $5.000 20% 10% 129; 5%
WORD PROBLEMS
8-16. Bari Jay, a gown manufacturer, received an order for 600 prom dresses from China. Her cost is $35 a gown. If her markup based on selling price is 79%, what is the selling price of each gown? Round to the nearest cent. LU 8-2(2) 8-17. Brian May, guitarist for Queen, does not know how to price his signature Antique Cherry Special that cost him £280 to make. He knows he wants 85% markup on cost. What price should Brian May ask for the guitar? Note: “f” is the pound sterling symbol.LU 8-1(2) 8-18. You are buying and reselling items found at your local thrift shop. You found an antique pitcher for sale. If you need a 40% markup on cost and know most people will not pay more than $20 for it, what is the most you can pay for the pitcher? Round to the nearest cent. LU 8-1(4)
Money
8-19. Macy’s was selling Calvin Klein jean shirts that were originally priced at $58.00 for $8.70. (a) What was the amount of the page233 markdown?
(b) Based on the selling price, what is the percent markdown? LU 8-3(1) 8-20. Brownsville, Texas, boasts being the southernmost international seaport and the largest city in the lower Rio Grande Valley. Ben Supple, an importer in Brownsville, has just received a shipment of Peruvian opals that he is pricing for sale. He paid $150 for the shipment. If he wants a 75% markup, calculate the selling price based on selling price. Then calculate the selling price based on cost. LU 8-1(2), LU 8-2(2) 8-21. Front Range Cabinet Distributors in Colorado Springs, Colorado, sells to its contractors with a 42% markup on cost. If the selling price for cabinets is $9,655, what is the cost to contractors based on cost? Round to the nearest tenth. Check your answer. LU 8-1(3)
