MathCue 8
mid908
mathcue_8.docx1. The spoilage rate on a shipment of 500 pounds of mussels is expected to be 20%. They were puchased at a cost of $5.56 per pound. What should the selling price per pound be to achieve a markup of 6% based on cost? (Note: Round your answer to the nearest cent.)
2. To manufacture a chair, it costs $135. If the desired percent markup based on cost is 39%, how much should each chair sell for?
3. You can buy a computer system on sale for only $678.20. What is the percent markdown if the original price was $1,149.50? Round to the nearest whole percent.
4. A wholesaler sells a dining set for $2,790. What is the percent markup based on cost if the wholesaler paid $1,500 for the dining set?
5. The wholesale cost of a jacket is $75. The original markup was 59% based on selling price. Find the final sale price after the following series of price changes: a markdown of 40% and a markdown of 44%. (Round each intermediate selling price to the nearest cent.)
6. A purchaser just paid $430 for a fax machine. If 50% of that amount was the seller's markup then what did the fax machine cost the seller in the first place?
7. The markup on a video game is 66% of the sale price. If the video game sells for $102.94, what was the cost?
8. A delivery van that previously sold for $30,199.50 has been marked down 35%. What is the sale price?
10. A purchaser paid $29,400 for a car that originally cost $14,700. If the markup was 50% of the $29,400 selling price, then what is the percent markup based on cost? Round to the nearest tenth percent.
11. It costs $170 to manufacture a fax machine. If the fax machine sells for $178.95, what is the percent markup based on selling price? Round to the nearest whole percent.
12. A retailer purchased a VCR for $340. What selling price should be used if the markup is supposed to be 58% based on selling price?
13. A purchaser just paid $53.33 for a hair dryer. If 55% of that amount was the seller's markup then what did the hair dryer cost the seller in the first place?
14. The wholesale cost of a hair dryer is $20. The original markup was 46% based on selling price. Find the final sale price after the following series of price changes: a markup of 32%, a markup of 19%, a markdown of 49% and a markdown of 12%. (Round each intermediate selling price to the nearest cent.)
15. A wholesaler requires a markup of 30% based on cost for merchandise sold. What should the selling price of a jacket be if each jacket costs $35?
16. 400 pounds of mussels were purchased at $5.56 per pound. The desired markup is 19% based on selling price, but 19% spoilage is expected. What should the selling price per pound be? (Note: Round your answer to the nearest cent.)
17. A watch that previously sold for $49.95 has been reduced to $25.47. What is the markdown percent? Round to the nearest whole percent.
18. Find the percent markup based on cost if the percent markup based on selling price is 74%. Round to the nearest tenth percent.
19. The percent markup on a guitar is known to be 70% based on cost to the seller. If the seller paid $460 for one, then what would be the corresponding percent markup based on the sale price? Round to the nearest tenth percent.
20. The markup on a car is 108% based on cost to the seller. The current selling price is $31,408. How much did the seller pay for the car?
21. A sofa costs a company $1,050 to manufacture. If it sells for $1,480.50, what is the percent markup based on cost?
22. The wholesale cost of a mountain bike is $370. The original markup was 40% based on selling price. Find the final sale price after the following series of price changes: a markup of 35% and a markup of 37%. (Round each intermediate selling price to the nearest cent.)
23. 1400 bushels of peanuts were purchased at $5.51 per bushel. The desired markup is 47% based on cost, but 21% spoilage is expected. What should the selling price per bushel be? (Note: Round your answer to the nearest cent.)
