Question 1

A buyer for a department store is looking for a line of sweaters to retail at $80 each. If a 56% markup based on selling price is the objective, what is the most the buyer can pay for the sweaters and still get the intended markup?

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Question 2

After Big Al's Sport Shop adds a markup of $25.70 to a tennis racket, it is sold for $90.56. What was Adam's cost?

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Question 3

The markup on a video camera should be 37% based on selling price. If the seller paid $390 for one, then how much should it be sold for to achieve the desired markup? (Round to the nearest cent)

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Question 4

If a microwave is marked up 36% based on the selling price, what is the corresponding markup based on cost? (Round to the nearest tenth of a percent)

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Question 5

The Quick Plumbing Supply sells a set of faucets for $79.75. If a 45% markup based on cost was used, what was the cost of the faucets to Quick Plumbing? (Round to the nearest cent)

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Question 6

The selling price for a raincoat is $76.09. What is the percent markup based on selling price, if the cost of the raincoat was $70? (Round to the nearest whole percent)

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Question 7

The Soft Step Floor Company purchases carpeting for $5.12 per square yard and marks it up 55% based on the selling price. What is the selling price per square yard? (Round to the nearest cent)

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Question 8

A customer just paid $3,202.50 for a computer system. If the percent markup based on cost is 83%, what was the cost?

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Question 9

The markup on a dining room table is 30% of the sale price. If the table sells for $1348, what was the cost?

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Question 10

Winston & Company buys skateboards from the distributor for $49.60 each. If the skateboards are sold for $89.99, what is the percent markup based on selling price? (Round to the nearest tenth of a percent)

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Question 11

A wholesaler buys plastic lamps for $18 each and sells them for $30.60. What is the percent markup based on cost?

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Question 12

To manufacture a Multi-function Center costs $275. If the desired percent markup based on cost is 46%, how much should each fax machine sell for?

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Question 13

Jack's Jewelry Store sells a ring for $30.99. If the store paid $15.20 for the ring, what is the amount of the markup?

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Question 14

Calculators cost the manufacturer $2.16 each to produce. If a markup of $2.16 is added to the cost, what is the selling price?

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Question 15

The markup on a chair is 28% of the sale price. If the desk sells for $738.25, what was the cost?

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Question 16

A baseball glove sells for $39.99. If the markup is $6.10, what is the percent markup based on cost? (Round to the nearest tenth of a percent)

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Question 17

What is the selling price of a chair that costs $189.99 and has a $19.95 markup?

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Question 18

The percent markup on a pickup truck is known to be 112% based on cost to the seller. If the seller paid $15,800 for one, then what would be the corresponding percent markup based on the sale price? (Round to the nearest tenth percent)

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Question 19

Mid West Appliances buys washers for $369 each. If a 43% markup based on cost is desired, what should be the selling price of the washer?

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Question 20

A refrigerator costs a company $1,600 to manufacture. If it sells for $3,456, what is the percent markup based on cost? (Round to the nearest whole percent)

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Quiz 8: Markup and Markdown