Question

A.THE COST OF A MEATLOAF DINNER TO THE OWNER OF THE BLUE BELL DINER IS $6.97. THE MEATLOAF DINNER IS SOLD FOR $11.85. WHAT IS THE PERCENT MARKUP?B. PERKASIE INDUSTRIES IS HIRING 66 NEW EMPLOYEES, WHICH INCREASES ITS STAFF BY 30%. WHAT WAS THE ORIGINAL NUMBER OF EMPLOYEES?

Answer 1

The markup percentage is the percentual difference between the cost and the actual price of a quantity. To calculate the markup we simply take the sales price minus the unit cost, and divide that number by the unit cost. Then, multiply by 100 to determine the markup percentage.

item (a):

`mark\:up=(11.85-6.97)/(11.85)=0.411814346...\approx41.18\%`

item (b):

For this problem, we have the mark up but we want to calculate the original amount of employees. If we call the amount of employees as x, we have the following equation:

`(100+30)/(100)=(x+66)/(x)`

Solving for x, we have:

`\begin{gathered} (130)/(100)=(x+66)/(x) \\ 1.3=1+(66)/(x) \\ 0.3=(66)/(x) \\ x=(66)/(0.3) \\ x=220 \end{gathered}`

The original number of employees is 220.