Question

A store purchased a shipment of goods for $105.00 per unit, on which it will charge a markup rate of 60.00% on the selling price. During a sale, the store marked the goods down by 30.00%. a. Calculate the regular selling price of the goods. Round to the nearest cents b. Calculate the reduced selling price of the goods. Round to the nearest cents

Answer 1

a) The regular selling price of the goods= $168

b) The reduced selling price of the goods= $117.96

Step-by-step explanation:

Given

A store purchased a shipment of goods for $105.00 per unit

So, the cost price of the goods will be C.P=$105

charge a markup rate of 60.00% on the selling price.

So let the selling price of the good be x

Mark up is given by the formula

Markup% = (SP−CP / CP)

By putting values in formula we get,

60/100 = (x−105/105)

0.6×105 = x−105

X = 168

So, the regular selling price of the good

SP=$168

reduced selling price = regular selling price - 30% of regular selling price

plugging values

=168 − 0.3 × 168

=117.96

So, the reduced selling price =$117.96

a) The regular selling price of the goods= $168

b) The reduced selling price of the goods= $117.96