Question

If i have a pay rate of $21.00 and marked up 78.7% and made a 10% profit. how did i get $41.28?

Answer 1

The original or cost price of the good = $21.00

Then, it is marked up 78.7%, i.e the price is 78.7% more than the initial price, which in this case is $21.

The new price is,

`21+(21* (78.7)/(100))=\$37.527`

Then, 10% profit must be earned after selling the good. Hence, the list price must be 10% more of 37.527,

So, the selling or list price is

`37.527+(37.527* (10)/(100))=\$41.279 \approx \$41.28`

∴ $41.28 is the selling price of the good and this is how you got it.