Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.
Item	Cost	Amount of Markup	 Selling price	Percent Markup Based on Cost
Dress	              $85.00	                        $                                  60%

To find the missing information, let’s calculate the **amount of markup** and the **selling price** of the dress based on a 60% markup on cost.

### Step-by-Step Solution:

1. **Calculate the Amount of Markup**:
   - Given:
     - Cost of the dress = $85.00
     - Percent markup based on cost = 60%
   - Formula for the amount of markup:
     \[
     \text{Amount of Markup} = \text{Cost} \times \left(\frac{\text{Percent Markup}}{100}\right)
     \]
   - Calculation:
     \[
     \text{Amount of Markup} = 85 \times \left(\frac{60}{100}\right) = 85 \times 0.60 = 51.00
     \]
   - **Amount of Markup** = $51.00

2. **Calculate the Selling Price**:
   - Selling Price = Cost + Amount of Markup
   - Calculation:
     \[
     \text{Selling Price} = 85 + 51 = 136.00
     \]
   - **Selling Price** = $136.00

### Summary of the Solution:

| Item   | Cost  | Amount of Markup | Selling Price | Percent Markup Based on Cost |
|--------|-------|------------------|---------------|------------------------------|
| Dress  | $85.00| $51.00           | $136.00      | 60%                          |

Would you like any further details on these calculations, or have any questions?

---

Here are some related questions to deepen understanding:

1. What is the markup amount if the cost is $85.00 and the markup percentage is 75%?
2. How would you calculate the selling price if you only know the markup percentage and the selling price?
3. If a store offers a 15% discount on the selling price, what would be the new price?
4. What is the formula to calculate the markup percentage if the markup amount and cost are known?
5. How does the markup percentage change if the markup amount is set at $60?

**Tip**: Always verify which base (cost or selling price) is used for the markup percentage, as it changes the outcome.

Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

Item    Cost    Amount of Markup    Selling Price    Percent Markup Based on Cost
Dress   $85.00                     $                60%

Learn how to calculate the missing markup amount and selling price for a dress with a cost of $85 and a 60% markup based on cost. This solution includes step-by-step instructions and is suitable for students in Grades 6-8.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation