Answer:
Cost: $14.349
Markup: $15.649
Step-by-step explanation:
1. Rewrite the percent as decimal. Divide it by 100, as following:
109/100=1.09
3. Now, knowing that Baby blankets sell for $29.99 after a markup rate based on cost of 109%, you can write the following expresion:
[tex]x+1.09x=29.99[/tex]
Where x is the cost.
4. You must solve for x, then, you obtain:
[tex]2.09x=29.99\\x=\frac{29.99}{2.09}\\x=14.349[/tex]
5. The markup is:
[tex]M=29.99-14.349=15.649[/tex]
Answer:
Cost price of the baby blanket is $14.35 and markup is $15.64.
Step-by-step explanation:
As we know selling price of the baby blanket is $29.99 and the markup percentage is 109%.We have to calculate the cost and markup of the blanket.
Let the cost price C.P.= $x
Then with the markup selling price S.P. will be = x+ 109% of x
S.P.= x+1.09x =2.09x
This S.P. is $29.99 given from the question.
2.09x = 29.99
x = 29.99/2.09 = 14.35
Or C.P.=$14.35
And markup = 1.09×14.35 = $15.64
