Question

Bob is looking for the best deal on a refrigerator that has a wholesale price of $629 .Help him compare the price of the refrigerator at two different stores by completing the following .Bob looks at the refrigerator in a department store that marks up the refrigerator's wholesale price 30%But because of a customer loyalty program, he would receive a 20%discount off the in-store price. Ignoring tax, how much would he pay for the refrigerator at this store?

Answer 1

To calculate how much Bob would pay for the refrigerator at the department store, we can follow these steps:

1. Calculate the markup price:
Markup Percentage = 30%
Markup Amount = Markup Percentage × Wholesale Price
Markup Amount = 0.30 × $629 = $188.70
In-store Price = Wholesale Price + Markup Amount
In-store Price = $629 + $188.70 = $817.70

2. Apply the 20% customer loyalty program discount:
Discount Percentage = 20%
Discount Amount = Discount Percentage × In-store Price
Discount Amount = 0.20 × $817.70 = $163.54
Final Price = In-store Price - Discount Amount
Final Price = $817.70 - $163.54 = $654.16

Bob would pay $654.16 for the refrigerator at the department store after applying the 20% customer loyalty program discount.

Answer 2

The pricew ould be of $526 because of the discount of 20% and the total tax