Answer:
The selling price is $450
Step-by-step explanation:
Here we have the mark up rate given as 50%. That is the store is going to add 50% to the cost of the ski,
Therefore, we have;
100% + 50% = 150%
The selling price will be 150% the cost price.
We use simple proportion to calculate the cost price as follows;
[tex]\frac{x}{300} = \frac{150}{100} \rightarrow \frac{100x}{100} = \frac{300\times 150}{100}[/tex] = $450
The selling price = $450.
Answer:
Selling price is $600
Step-by-step explanation:
Mark up cost= Selling price - cost/cost *100
But from the question, we know the mark up cost which is 50%
We know the cost which is $300 dollars, but we don't know the selling price.
Therefore, from the formula above, we make the selling price subject of formula.
50%=(300-x/x) * 100
Expanding the bracket
1/2= 3000-100x
We cross multiply
= 60000-100x
We move the value of x over the equality sign to make it positive
So we have, 100x=60000
We multiply both sides by the value of x
100x/100= 60000/100
Therefore, x= $600.
