Question

7/12/20 - Aleks 7 / 13

Find the total cost of mark-up if a store buys an item at $3.50 and upsells the item by 70% to its customers.

Find the total cost if a store sells a $829.95 camera with a tax of 7.25%.

Answer 1

To find the total cost of mark-up, multiply 70% with the purchase price and add it to the purchase price. To find the total cost with tax, multiply the tax rate with the selling price and add it to the selling price. The total cost of selling the camera is $829.95 + $60.14 = $890.09.

Step-by-step explanation:

To find the total cost of mark-up, we need to calculate the mark-up amount based on the purchase price and add it to the purchase price.

First, calculate the mark-up amount by multiplying 70% (0.70) with the purchase price of $3.50. The mark-up amount is $2.45 (0.70 * $3.50 = $2.45).

Next, add the mark-up amount to the purchase price to find the total cost of mark-up. The total cost of mark-up is $3.50 + $2.45 = $5.95.

To find the total cost of selling a $829.95 camera with a tax of 7.25%, first calculate the tax amount by multiplying 7.25% (0.0725) with the selling price of $829.95. The tax amount is $60.14 (0.0725 * $829.95 = $60.14).

Next, add the tax amount to the selling price to find the total cost. The total cost of selling the camera is $829.95 + $60.14 = $890.09.