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Math Help - consumer

  1. #1
    dmf
    dmf is offline
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    Exclamation consumer

    hi, i am in dier need...i am a senior and i have to take an exam for consumer math...this exam depends on me graduating this coming week, i took it today but i failed my teacher agreed to letting me re-take the exam....
    the basics are:
    selling price
    mark up
    and mark up rate
    please help me if you can just tell me the formulas of the above that would be very helpful thanks so much
    dmf
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  2. #2
    Super Member Aryth's Avatar
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    The selling price for a desired mark-up percentage is:

    \text{Selling Price} = \text{Total Cost }(1 + \text{Mark-Up Percent})

    The desired mark-up percentage is as follows:

    \text{Mark-Up Percent} = \frac{(\text{Selling Price} - \text{Total Cost})}{\text{Total Cost}}

    If you need any other formulas, I'll be glad to oblige.
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