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:

  1. Selling Price = Markup ÷ Rate of Markup on Selling Price
  2. 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:

  1. How does the relationship between markup and cost affect the selling price?
  2. Can you calculate the rate of markup on cost from this scenario?
  3. How would the cost change if the markup were lower?
  4. What would be the selling price if the rate of markup on selling price increased to 60%?
  5. 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

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Suitable Grade Level

High School