Calculate Answers for the Following Scenarios If Retailer Markups Are

question 74

Essay

Calculate answers for the following scenarios if retailer markups are based on their selling price:
a)A retailer sells a set of measuring cups for $2.50 after adding $.50 to the original cost. What is the markup percentage?
b)The cost of a food blender for the retailer is $40 and the retailer applies a markup of $60. What is the retail markup percentage?
c)A retailer marks up all products by 20 percent. If a set of glasses costs the retailer $10, what will the final selling price be?
d)A retailer marks up all products by 75 percent. If the selling price of a set of plastic bowls is $4, what was the cost to the retailer?

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Definitions:

Zero-Factor Property

A principle stating that if the product of two quantities is zero, then at least one of the quantities must also be zero.

Equation

An assertion in mathematics that two expressions, often containing variables and constants, are equivalent.

Trinomial

A polynomial equation or expression that consists of three terms.

Integers

Integers encompass whole numbers that may be negative, positive, or zero but exclude any fractional or decimal numbers.