Question

An electronics store bought a flat-

screen television from its supplier
for $699 and marked up its price
by 15%. Richard makes an 8%
commission on his sales. If Richard
sells the flat-screen television at full
price, how much commission will he
earn (rounded to the nearest cent)?

Answer 1

The markup price of the flat-screen television is:

$699 + ($699 x 0.15) = $803.85

The commission that Richard will earn on the sale is:

$803.85 x 0.08 = $64.31

Therefore, Richard will earn a commission of $64.31 (rounded to the nearest cent).