2. An appliance store sells electric kettles at a mark-up of 18% of the selling price. The store's profit on a particular

model is P310.50. a. For how much does the store sell the kettles?

b. What was the cost of a kettle when it was bought by the store?

c. What is the rate of mark-up based on the cost?

### Given:
- The store's profit \( P \) on a particular model is \( 310.50 \).
- The mark-up is 18% of the selling price.

Let:
- \( S \) = selling price of the kettle
- \( C \) = cost price of the kettle when bought by the store

### a. Find the selling price \( S \):

The mark-up is 18% of the selling price:
\[
\text{Mark-up} = 0.18 \times S
\]
Since this mark-up equals the profit \( P \):
\[
0.18 \times S = 310.50
\]
Solving for \( S \):
\[
S = \frac{310.50}{0.18}
\]
Let's calculate this value:

The selling price of the kettle is **₱1,725.00**.

### b. Find the cost price \( C \):

The profit \( P \) is the difference between the selling price and the cost price:
\[
P = S - C
\]
Substituting the values:
\[
310.50 = 1725 - C
\]
Solving for \( C \):
\[
C = 1725 - 310.50
\]

Let's calculate this value.
The cost price of the kettle when it was bought by the store is **₱1,414.50**.

### c. Find the rate of mark-up based on the cost:

The rate of mark-up based on the cost is calculated as:
\[
\text{Mark-up Rate} = \left(\frac{\text{Profit}}{C}\right) \times 100
\]
Substituting the values:
\[
\text{Mark-up Rate} = \left(\frac{310.50}{1414.50}\right) \times 100
\]

Let's calculate this value.
The rate of mark-up based on the cost is approximately **21.95%**.

### Summary:
a. The selling price of the kettle is **₱1,725.00**.
b. The cost price of the kettle when it was bought by the store is **₱1,414.50**.
c. The rate of mark-up based on the cost is **21.95%**.

Would you like further details or have any questions?

### Additional Related Questions:
1. How would the selling price change if the store applied a 25% mark-up instead?
2. What would the store's profit be if it sold the kettle at a 15% discount off the selling price?
3. If the cost price increases by 10%, what would the new selling price be with the same mark-up rate?
4. How many kettles need to be sold to achieve a total profit of ₱5,000 at the current mark-up rate?
5. What is the percentage profit based on the selling price?

### Tip:
Always distinguish between mark-up based on cost and mark-up based on selling price, as they represent different profit perspectives.

2. An appliance store sells electric kettles at a mark-up of 18% of the selling price. The store's profit on a particular model is P310.50. a. For how much does the store sell the kettles? b. What was the cost of a kettle when it was bought by the store? c. What is the rate of mark-up based on the cost?

Learn how to calculate the selling price, cost price, and mark-up rate for electric kettles at an appliance store with a detailed solution. Given a profit of ₱310.50 and a mark-up of 18%, discover the selling price of ₱1,725.00 and a cost price of ₱1,414.50. Suitable for students in Grades 8-10.

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