Math Help - Greg need help with math homework

1. Greg need help with math homework

Hi! this is Gregory and I need help with my math homework, I already had it figure out, but I need to know if I am on the right track. Thanks

Here are the Question and what I came up with:

11. A retailer sells a clothing item for $49.99. If the retailer maintains a 40% markup on cost, how much can it afford to pay for the item? Cost= Price/1+ markup price$49.99/1 +.40
=49.99/1.4
=$35.71 12. Determine the selling price of a good if it is purchased for$36 and the firm wants to earn a markup of 40% on the selling price.

Selling price= Cost/1- markup rate
$36/1-.40 =$36/.60
=$60 14. A retailer wants to sell an item that costs$18 at a list price that will provide a 25% markup on the selling price and give the customer a 40% discount. What is the list price?

Cost + markup= selling price
$18 + .25S=S$18=S-.25S
$18= -75S 24= S List Price - Trade discount = Net Price P - .40P =$24
.60P = $24 P =$ 40

2. Originally Posted by Kenny7
Hi! this is Gregory and I need help with my math homework, I already had it figure out, but I need to know if I am on the right track. Thanks

Here are the Question and what I came up with:

11. A retailer sells a clothing item for $49.99. If the retailer maintains a 40% markup on cost, how much can it afford to pay for the item? Cost= Price/1+ markup price$49.99/1 +.40
=49.99/1.4
=$35.71 This is fine 12. Determine the selling price of a good if it is purchased for$36 and the firm wants to earn a markup of 40% on the selling price.

Selling price= Cost/1- markup rate
$36/1-.40 =$36/.60
=$60 Correcto. 14. A retailer wants to sell an item that costs$18 at a list price that will provide a 25% markup on the selling price and give the customer a 40% discount. What is the list price?

Cost + markup= selling price
$18 + .25S=S$18=S-.25S
$18= -75S 24= S List Price - Trade discount = Net Price P - .40P =$24
.60P = $24 P =$ 40

Well if by "give the customer a 40% discount", you meant, find the selling price, and then add on a shedload extra, then take it off again to make it LOOK like they got a discount then - yeah, looks good.
Indeed.