Math Problem Statement
The wholesale cost of a birdcage is $55. The original markup was 46% based on selling price. Find the final sale price (in $) after the following series of price changes: a markdown of 14% and a markup of 13%. (Round each intermediate selling price to the nearest cent.)
Solution
To find the final sale price of the birdcage, we will follow these steps:
Step 1: Find the original selling price based on the wholesale cost and the markup percentage.
The formula for markup based on the selling price is:
Given that the markup is 46%, this means:
Let represent the selling price. Rearranging the equation:
So, the original selling price is $101.85.
Step 2: Apply the 14% markdown to the original selling price.
The formula for markdown is:
Here, the markdown is 14%, so:
After the markdown, the new price is $87.59.
Step 3: Apply the 13% markup to the new price.
The formula for markup is:
Here, the markup is 13%, so:
After the markup, the final sale price is $98.98.
Final Answer: The final sale price of the birdcage is $98.98.
Would you like further details on any of these steps?
Related Questions:
- What would the selling price be if the initial markup was 50%?
- How would the final price change if the markdown was 10% instead of 14%?
- What would be the final price if there was an additional 5% discount after the last markup?
- How is the final price affected if both the markdown and markup were 20%?
- What would happen if the markup was based on the wholesale price instead of the selling price?
Tip: When dealing with percentages, always clarify whether it's based on the selling price or cost price to avoid confusion.
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Percentage
Markup and Markdown
Algebra
Formulas
Markup based on selling price: (Selling price - Wholesale cost) / Selling price
Markdown formula: New price = Original price × (1 - Markdown percentage)
Markup formula: New price = Current price × (1 + Markup percentage)
Theorems
-
Suitable Grade Level
Grades 8-10
Related Recommendation
Calculate Final Sale Price with Markup and Markdown on a Birdcage
Calculate Final Price After Successive Markdowns and Markups for a $445 Kitchen Set
Find the Percent Decrease of a Sale Price from the Regular Price
CD Price Calculation: Regular Price, Sale Price, and Profit or Loss
Calculate Final Sale Price with Markup and Discount - Watch Example