Find the percent markup based on selling price, if the percent markup based on the cost is $$ 33 \% $$. (Round to the nearest tenth percent) select one: a. $$ 55.0 \% $$ ob. $$ 123 \% $$ o c. $$ 25 \% $$ o d. $$ 24.33 \% $$

Question

UpStudy AI · Accepted Answer

To find the percent markup based on selling price when the percent markup based on cost is $$ 33\% $$, we can follow these steps:

1. **Define the variables:**
   - Let $$ C $$ be the cost price.
   - The markup based on cost is $$ 33\% $$, so the selling price $$ S $$ can be expressed as:
     $$
     S = C + 0.33C = 1.33C
     $$

2. **Calculate the percent markup based on selling price:**
   - The markup amount is $$ 0.33C $$.
   - The percent markup based on selling price is given by the formula:
     $$
     \text{Percent Markup on Selling Price} = \left( \frac{\text{Markup}}{S} \right) \times 100
     $$
   - Substituting the values we have:
     $$
     \text{Percent Markup on Selling Price} = \left( \frac{0.33C}{1.33C} \right) \times 100
     $$

3. **Simplify the expression:**
   - The $$ C $$ cancels out:
     $$
     \text{Percent Markup on Selling Price} = \left( \frac{0.33}{1.33} \right) \times 100
     $$

4. **Calculate the value:**
   - Now we will calculate $$ \frac{0.33}{1.33} $$ and then multiply by $$ 100 $$.

Let's perform the calculation.
Calculate the value by following steps:
- step0: Calculate:
  $$\left(\frac{0.33}{1.33}\right)\times 100$$
- step1: Divide the terms:
  $$\frac{33}{133}\times 100$$
- step2: Multiply:
  $$\frac{33\times 100}{133}$$
- step3: Multiply:
  $$\frac{3300}{133}$$
The calculation gives us:

$$
\text{Percent Markup on Selling Price} \approx 24.81203
$$

Rounding this to the nearest tenth percent, we get:

$$
\text{Percent Markup on Selling Price} \approx 24.8\%
$$

Now, let's compare this result with the provided options:

a. $$ 55.0 \% $$  
b. $$ 123 \% $$  
c. $$ 25 \% $$  
d. $$ 24.33 \% $$

The closest option to $$ 24.8\% $$ is **d. $$ 24.33 \% $$**.

Thus, the answer is **d. $$ 24.33 \% $$**.
The percent markup based on selling price is approximately $$ 24.33\% $$.

Find the percent markup based on selling price, if the percent markup based on the cost is \( 33 \% \). (Round to the nearest tenth percent) select one: a. \( 55.0 \% \) ob. \( 123 \% \) o c. \( 25 \% \) o d. \( 24.33 \% \)

Real Tutor Solution

Answer

Solution

Bonus Knowledge

Related Questions

Latest Arithmetic Questions