Question

3. An exclusive clothing boutique triples the price of the items it purchases

for resale.
a. What is the boutique's markup percent?.
b. Write two expressions that represent the retail price of the clothes.

Answer 1

To calculate the boutique's markup percent, use the formula Markup Percent = (Retail Price - Purchase Price) / Purchase Price * 100%.

Step-by-step explanation:

To calculate the boutique's markup percent, we need to find the percentage increase in price from the purchase price to the resale price. Since the price is tripled, it means the resale price is three times the purchase price. To find the markup percent, we can use the formula:

Markup Percent = (Retail Price - Purchase Price) / Purchase Price * 100%

For example, if the purchase price is $100, then the retail price would be $300. Substituting these values into the formula:

Markup Percent = ($300 - $100) / $100 * 100% = 200%

So, the boutique's markup percent is 200%.

Two expressions that represent the retail price of the clothes would be:

Retail Price = Purchase Price + Markup Amount

Retail Price = Purchase Price * (1 + Markup Percent/100)

These expressions show how the retail price is calculated by adding the markup amount to the purchase price or by multiplying the purchase price by the markup percent plus 1.