Question

Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

Percent Markup Based on Cost: Item Drill %
Percent Markup Based on Selling Price: 44%

Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

Item: Drill
Percent Markup Based on Cost: 44%
Percent Markup Based on Selling Price:

Answer 1

The selling price (SP) can be calculated using the formula SP = 1.44C, where C is the cost. Provide a specific cost value for a numerical result.

To find the selling price (SP), we'll use the given percent markup based on cost (44%) and a hypothetical cost value denoted as C. The formula for calculating SP based on cost and percent markup is:

`\[ SP = C + \left(\frac{\text{Percent Markup on Cost}}{100} * C\right) \]`

Given that the percent markup based on cost is 44%, substitute this into the formula:

`\[ SP = C + \left((44)/(100) * C\right) \]`

To simplify further:

SP = C + 0.44C

Combine like terms:

SP = 1.44C

So, the selling price is 1.44 times the cost. If you have a specific cost value, substitute it into the formula to find the corresponding selling price.

For example, if the cost (C) is $100, then:

`\[ SP = 1.44 * 100 = 144 \]`

Therefore, the selling price would be $144.