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Math Help - Markups

  1. #1
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    Exclamation Markups

    Answers are provided. Please show your work so I can follow along with what you did. Thanks.

    A store bought 10 dozen of a certain toy for $24.00 per dozen and it priced the toy to yield a markup of 50% based on selling price. After Christmas it had forty left over so it priced the remainded to give a markup of 50% based on cost. Assuming all sold at this markdown, find

    (a)The regular selling price [$48.00/dozen]
    (b)the after Christmas price [$36.00/dozen]
    (c) the effective markup rate based on sales [45.45%]
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  2. #2
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    Answer to c.

    40 x 12 = 480
    80 x 24 = 1920

    480 + 1920 = 2400

    40 x 36 +1440
    80 x 48 = 3840

    1140 + 3840 = 5200

    2400 / 5200 = .4545 x 100 = 45.45%
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