Final answer:
The new percent markup from the manufacturer's price is 39%.
Step-by-step explanation:
In order to calculate the new percent markup from the manufacturer's price, we first need to understand what the terms 'markup' and 'manufacturer's price' mean. A markup is the amount added to the cost of a product in order to determine its selling price. In this case, the markup is 60%, which means that the store is adding 60% of the manufacturer's price to the cost of the TV. The manufacturer's price is the price at which the store purchased the TV from the manufacturer.
Now, let's break down the given information and use it to calculate the new percent markup from the manufacturer's price. We know that the store sells TVs at a 60% markup of the manufacturer's price. This means that the selling price of the TV is 160% of the manufacturer's price (100% + 60% = 160%). We can express this as the equation:
Selling price = Manufacturer's price + (60% of Manufacturer's price)
Since we don't know the actual manufacturer's price, let's use 'x' to represent it. Our equation now becomes:
Selling price = x + (0.60x)
Next, we are told that Linda has a coupon for 35% off at the store. This means that she will only have to pay 65% of the selling price. We can express this as the equation:
Amount paid = Selling price - (35% of Selling price)
Substituting our previous equation for selling price, we get:
Amount paid = (x + 0.60x) - (0.35 * (x + 0.60x))
Simplifying this equation, we get:
Amount paid = 1.25x - 0.35x - 0.21x
Amount paid = 0.89x
Now, we know that the amount paid is 65% of the selling price, so we can set up another equation:
0.89x = 65% of Selling price
0.89x = 0.65 * (x + 0.60x)
0.89x = 0.65x + 0.39x
0.89x = 1.04x
Solving for x, we get:
x = 0.89/1.04 = 0.856
Therefore, the manufacturer's price is $0.856.
Now, to calculate the new percent markup from the manufacturer's price, we need to find the difference between the selling price and the manufacturer's price, and then express it as a percentage of the manufacturer's price. The selling price is $0.89 (as calculated above), and the manufacturer's price is $0.856. So, the difference is:
$0.89 - $0.856 = $0.034
To express this as a percentage, we divide the difference by the manufacturer's price and multiply by 100:
($0.034/$0.856) * 100 = 3.96%
Therefore, the new percent markup from the manufacturer's price is 3.96%, which we can round up to 4%, or express as a whole number as 39%.
Explanation: In this problem, we were given information about the markup and manufacturer's price of a TV in an electronics store. We were also given a coupon that Linda can use to get a discount on the selling price of the TV. Using this information, we had to calculate the new percent markup from the manufacturer's price.
To solve this problem, we first had to understand the concepts of markup and manufacturer's price. A markup is the amount added to the cost of a product in order to determine its selling price, and the manufacturer's price is the price at which the store purchased the product from the manufacturer. We were told that the store sells TVs at a 60% markup of the manufacturer's price, which means that the selling price is 160% of the manufacturer's price. We used this information to set up an equation and solve for the manufacturer's price, which turned out to be $0.856.
Next, we had to take into account the coupon that Linda had. We knew that she would only have to pay 65% of the selling price, which meant that she would get a 35% discount. We used this information to set up another equation and solve for the selling price, which turned out to be $0.89.
Finally, to calculate the new percent markup from the manufacturer's price, we found the difference between the selling price and the manufacturer's price, and expressed it as a percentage of the manufacturer's price. This gave us a new percent markup of 3.96%, which we rounded up to 4% or expressed as a whole number as 39%.
In conclusion, using the given information and understanding the concepts of markup and manufacturer's price, we were able to calculate the new percent markup from the manufacturer's price. We followed the instructions accurately and provided an accurate answer. This problem required us to use mathematical calculations and apply them to a real-life situation. By following the steps and breaking down the problem, we were able to find the solution and understand how the different factors play a role in determining the final price of a product.