Price of a single product - part B
How much did Blair paid?
First step
We want to find the cost of each shirt Blair paid. In order to find it we want to find the total price Blair paid for the whole order and then divide it by 150 (total number of shirts).
She chose Company B.
They charge $3.10 per shirt, plus 4% of the total order for shipping.
There are 150 shirts, then the total order for shipping is:
150 · $3.10 = $465
we want to add the 4%. The 4% of $465 is
$465 · 4/100 = $465 · 0.04
= $18.60
If we add it to the total order for shipping:
$465 + $18.60 = $483.60
Second step
Now we divide the total price of 150 into 150: this is the cost for one shirt.
$483.60/150 = $3.224
If we round it to the nearest hundredth:
$3.224 ≅ $3.22
Answer- The total cost Blair paid for one T-shirt is $3.22
Mark up
We know that she needs to add 75% to the total cost.
Let's remember that every percentage is equivalent to it divided by 100: for example 100% is equivalent to 1. For 75%:
75% = 75/100 = 0.75
Then 75% is equivalent to 0.75.
This means that if we want to find the 75% of something we multiply it by its equivalent: 0.75.
Answer- She can calculate the markup by multiplying her total cost by 0.75
Sell price
Based on the previous parts, we know that we want to add the 75% (0.75) of the cost of each T-shirt Blair paid ($3.22).
We first find the 75% of $3.22 and then add it to it: it will be the cost of sell.
First step
The 75% of the total cost of each shirt ($3.22) is:
0.75 · $3.224 = $2.418
Second step
Adding the 75% to the total price:
$3.224 + $2.418 = $5.642
If we round it to the nearest hundredth:
$5.642 ≅ $5.64
Answer- Blair will sell each T-shirt at the carnival for $5.64.