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A purchaser paid $403.10 for a TV that cost the seller $290. If the seller's markup was 39% of the $290 cost, then what would be the percent markup based on the selling price? (Round your answer to the nearest tenth of a percent.)

Respuesta :

skyluke89

Percent markup based on the selling price: 28.1%

Explanation:

The cost of the TV for the seller was

[tex]c=\$290[/tex]

Of this, the markup of this price was 39%. Therefore, the value of the markup (in dollars) with respect to the cost for the seller was

[tex]m=0.39\cdot 290 =\$113.1[/tex]

So, this was the markup relative to the cost for the seller.

The price paid by the purchaser instead is

[tex]p=\$403.1[/tex]

Therefore, the percent markup based on the selling price (paid by the purchaser) is:

[tex]\frac{m}{p}\cdot 100 = \frac{113.1}{403.1}\cdot 100 =0.281\cdot 100 = 28.1\%[/tex]

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