Question

Billie Holiday sells children's clothing for Sara Vaughn's Toddler Shop. Baby blankets sell for $29.99 after a markup rate based on cost of 109%. Find the cost and the markup.

Answer 1

Cost price of the baby blanket is $14.35 and markup is $15.64.

Explanation:

As we know selling price of the baby blanket is $29.99 and the markup percentage is 109%.We have to calculate the cost and markup of the blanket.

Let the cost price C.P.= $x

Then with the markup selling price S.P. will be = x+ 109% of x

S.P.= x+1.09x =2.09x

This S.P. is $29.99 given from the question.

2.09x = 29.99

x = 29.99/2.09 = 14.35

Or C.P.=$14.35

And markup = 1.09×14.35 = $15.64

Answer 2

Cost: $14.349

Markup: $15.649

Explanation:

1. Rewrite the percent as decimal. Divide it by 100, as following:

109/100=1.09

3. Now, knowing that Baby blankets sell for $29.99 after a markup rate based on cost of 109%, you can write the following expresion:

`x+1.09x=29.99`

Where x is the cost.

4. You must solve for x, then, you obtain:

`2.09x=29.99\\x=(29.99)/(2.09)\\x=14.349`

5. The markup is:

`M=29.99-14.349=15.649`