Question

Answer both parts a and b for full credit.

A store that sells skis buys them from a manufacturer at a wholesale price of $63. The store’s markup rate is 50%.
a. What price does the store charge its customers for the skis?
b. What percent of the original price is the final price? Show your work.

Answer 1

a. $94.50

b. 150%

Explanation:

A store that sells skis buys them from a manufacturer at a wholesale price of $63. The store’s markup rate is 50%.

a. 50% is equivalent to
`(1)/(2),` this means that the store charge its customers for the skis
`(1)/(2)` more than the skis price.

`(1)/(2)\cdot \$63=\$31.50,`

then the price of the skis in the store is

`\$63+\$31.50=\$94.50`

b. Let the original price be 100%, then

$63 - 100%

$94.50 - x%

Write a proportion:

`(63)/(94.5)=(100)/(x)\\ \\63x=94.5\cdot 100\\ \\63x=9,450\\ \\x=(9,450)/(63)=150\%`