Question

Danice is reselling concert tickets and wants to markup the price at `\frac{1}{6}` of the original price, $231.00. What is the markup price for the concert ticket. Show all your steps.

Answer 1

Given:

Original price = $231.00

Markup price is
`(1)/(6)` of the original price.

To find:

The markup price for the concert ticket.

Solution:

It is given that, markup price is
`(1)/(6)` of the original price. So,

`\text{Markup price}=(1)/(6)* \text{Original price}`

`\text{Markup price}=(1)/(6)* 231`

`\text{Markup price}=(231)/(6)`

`\text{Markup price}=38.5`

Therefore, the markup price for the concert ticket is $38.5.