Question

DO THE MATH: Randy makes leather purses and wallets and sells them on

consignment through Wilt's Western World. Wilt charges a 60/40 consignment fee.
How much does Randy and Wilt each receive on the sale of a $577 fine grain, Italian
leather purse?
Randy receives?
Round your answers to the nearest penny.
,Wilt receives?

Answer 1

If the selling price of the fine grain, Italian leather purse is $577, Randy would receive 60% of the sale and Wilt would receive 40%.

Randy's share = 60% of $577 = 0.60 x $577 = $346.20

Wilt's share = 40% of $577 = 0.40 x $577 = $230.80

Therefore, Randy would receive $346.20 and Wilt would receive $230.80 from the sale of the $577 purse.