Math Problem Statement
On row 3 (Given: Mark Up = 350, Rate of Markup on Selling Price = 52%)
Solution
Given the corrected information for Row 3 where:
- Markup = ₱350
- Rate of Markup on Selling Price = 52%
We will solve for the Cost and Selling Price based on this information.
The formulas we will use:
- Selling Price = Markup ÷ Rate of Markup on Selling Price
- Cost = Selling Price - Markup
Let's calculate these values.# Given data for Row 3: markup3_corrected = 350 rate_of_markup_selling3_corrected = 52 / 100 # 52%
Calculating the Selling Price using the formula:
Selling Price = Markup / Rate of Markup on Selling Price
selling_price3_corrected = markup3_corrected / rate_of_markup_selling3_corrected
Calculating the Cost using the formula:
Cost = Selling Price - Markup
cost3_corrected = selling_price3_corrected - markup3_corrected
Organizing the results
{ "Selling Price": selling_price3_corrected, "Cost": cost3_corrected }For Row 3, given that the Markup is ₱350 and the Rate of Markup on Selling Price is 52%, the following values are calculated:
- Selling Price: ₱673.08
- Cost: ₱323.08
Would you like further clarification or additional calculations? Here are some related follow-up questions:
- How does the relationship between markup and cost affect the selling price?
- Can you calculate the rate of markup on cost from this scenario?
- How would the cost change if the markup were lower?
- What would be the selling price if the rate of markup on selling price increased to 60%?
- How does markup affect profit margins in different industries?
Tip: Knowing both the markup and rate of markup helps businesses make informed pricing decisions that maximize profitability while remaining competitive.
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Math Problem Analysis
Mathematical Concepts
Arithmetic
Percentages
Cost and Selling Price Calculations
Formulas
Selling Price = Markup / Rate of Markup on Selling Price
Cost = Selling Price - Markup
Theorems
-
Suitable Grade Level
High School
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