Question

The local pawn broker bought a clarinet for $431 and marked it up 52% to set the selling price. A customer bought the clarinet on sale for 69% of the selling price. How much did the customer pay? Round your answer to two decimal places.

A) $656.12
B) $704.32
C) $718.85
D) $732.98

Answer 1

The customer paid approximately $451.83 for the clarinet after the pawn broker marked it up by 52% and then sold it at a discount of 69% off the selling price.

Step-by-step explanation:

The question involves calculating the final price a customer pays for a clarinet after a markup and a discount have been applied. First, we calculate the selling price of the clarinet by adding a 52% markup to the pawn broker's purchase price of $431. To find the markup amount, we multiply $431 by 52%, which is the same as 0.52. The markup amount is then added to the original price to get the selling price.

Next, the customer buys the clarinet at 69% of the selling price, which is equivalent to a 31% discount off the original selling price. To determine the sale price, we multiply the selling price by 69% or 0.69. Finally, we round the result to two decimal places to find the amount the customer pays.

Here's how the calculations would look in steps:

1. Markup amount: $431 * 0.52 = $224.12
2. Selling price: $431 + $224.12 = $655.12
3. Customer pays: $655.12 * 0.69 ≈ $451.83

Therefore, the customer paid approximately $451.83 for the clarinet.