Math Problem Statement
Solution
The image shows a question from a BADB1014 assignment that asks for the missing cost price and markup, with the given markup percentage as 44% and the selling price as $92.61. The possible answer choices provide different values for cost price and markup.
To solve this, let's use the formula for markup on cost:
and
Given:
- Markup % = 44%
- Selling Price = $92.61
Let the cost price be . The markup would then be . So, the equation becomes:
Now solve for :
So, the cost price is approximately $64.31. Now calculate the markup:
Therefore, the correct option is A. Cost Price: $64.31 | Markup: $28.30.
Would you like further details on this calculation? Here are some related questions for you:
- How do you calculate markup based on selling price?
- What is the formula for determining profit margin?
- How does the percentage markup affect selling price in different industries?
- What is the relationship between cost price, markup, and selling price in retail?
- How do you calculate break-even price when given markup?
Tip: Always verify the percentage increase calculations carefully, especially when rounding, to ensure accuracy!
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Math Problem Analysis
Mathematical Concepts
Algebra
Percentage Calculation
Markup and Cost Analysis
Formulas
Selling Price = Cost Price + Markup
Markup = (Markup % / 100) × Cost Price
Theorems
-
Suitable Grade Level
Grades 9-12