To solve this problem, let us define the terms and calculate step by step:

Problem:

• Selling price (SP): $28.47
• Markup percentage: 95% of the original list price.

We need to find:

1. The original list price (LP).
2. The dollar amount of the markup.

Step 1: Relationship between selling price, list price, and markup

The formula for selling price is: $SP = LP + (Markup\% \times LP)$ This simplifies to: $SP = LP \times (1 + Markup\%)$

Substitute the given values: $28.47 = LP \times (1 + 0.95)$ $28.47 = LP \times 1.95$

Step 2: Solve for the original list price (LP)

$LP = \frac{28.47}{1.95}$ $LP = 14.60$

So, the original list price is $14.60.

Step 3: Calculate the dollar amount of the markup

The markup is: $Markup = Markup\% \times LP$ $Markup = 0.95 \times 14.60$ $Markup = 13.87$

So, the dollar amount of the markup is $13.87.

Final Answers:

1. Original list price: $14.60
2. Dollar amount of the markup: $13.87

Would you like further clarification or a breakdown of the steps? Here are related questions for practice:

1. If the markup percentage was 50%, what would the selling price be?
2. How would the calculation change if only the selling price was known without a given markup?
3. What is the markup percentage if the selling price is $28.47 and the list price is $20?
4. If the list price increases by 10%, what would the new selling price be (assuming the same markup percentage)?
5. How can this problem be solved using a graph or table?

Tip: Always check the relationships between percentages and amounts in markup problems to avoid confusion.