Brownsville, Texas, boasts being the southernmost international seaport and the largest city in the lower Rio Grande Valley. Ben Supple, an importer in Brownsville, has just received a shipment of Peruvian opals that he is pricing for sale. He paid $176 for the shipment. Assume he wants a 75% markup.

Calculate the selling price when the markup is based on selling price.

Note: Round your answer to the nearest cent.



Calculate the selling price when the markup is based on cost.

Note: Round your answer to the nearest cent.



Let's solve both parts of the problem step by step:

### Part 1: Selling Price Based on Selling Price

In this case, the markup is calculated based on the final selling price.

Let:
- $ S $ be the selling price.
- The cost is \$176.
- The markup is 75% of the selling price.

This means that:
\[
\text{Cost} = S - 0.75S = 0.25S
\]

So:
\[
176 = 0.25S
\]

Solving for $ S $:
\[
S = \frac{176}{0.25} = 704
\]

Thus, the selling price based on selling price is **\$704.00**.

---

### Part 2: Selling Price Based on Cost

In this case, the markup is based on the cost, which means the selling price is the cost plus 75% of the cost.

Let:
- The cost is \$176.
- The markup is 75% of the cost.

To find the selling price:
\[
S = 176 + 0.75 \times 176
\]

First, calculate the markup:
\[
0.75 \times 176 = 132
\]

Now, add the markup to the cost:
\[
S = 176 + 132 = 308
\]

Thus, the selling price based on cost is **\$308.00**.

---

### Summary:
- Selling price based on **selling price**: **\$704.00**
- Selling price based on **cost**: **\$308.00**

Would you like more details or have any questions?

Here are 5 related questions for further practice:
1. What would the selling price be if the markup was based on selling price but only 50%?
2. How does the selling price change if the markup based on cost is reduced to 60%?
3. What is the percentage profit if the markup is based on selling price and the cost is \$200?
4. How much profit is earned with a 100% markup based on cost?
5. What would be the loss if the item is sold at a 10% discount from the cost price?

**Tip:** Always clarify whether the markup is based on cost or selling price, as it changes the calculation significantly!

Brownsville, Texas, boasts being the southernmost international seaport and the largest city in the lower Rio Grande Valley. Ben Supple, an importer in Brownsville, has just received a shipment of Peruvian opals that he is pricing for sale. He paid $176 for the shipment. Assume he wants a 75% markup.

Calculate the selling price when the markup is based on selling price.

Note: Round your answer to the nearest cent.

Calculate the selling price when the markup is based on cost.

Note: Round your answer to the nearest cent.

Learn how to calculate the selling price of a $176 shipment with a 75% markup based on selling price and cost. This problem explores key concepts in markup calculations, percentages, and algebra, suitable for students in Grades 9-12.

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