Question

A music store marks up the instruments it sells by 30%. If the price on a trumpet says $104. How much did the store pay for it?

Answer 1

A. $ 58.50

B. $ 80

C. No, it did not mark up 30%

Explanation:

Since,

A. We have,

Mark up percentage = 30%

Actual price = $ 45,

B. We have,

SP = $ 104,

C. We have,

AP = $ 75,

SP = $100,

Thus, mark up percentage =

= 33.33 %

Hence, store did not mark up the price by 30%.

Answer 2

$ 72.80

Explanation:

30% of 104 = 0.30 * 104

= $ 31.20

Money paid by the store = 104 - 31.20

= $ 72.80