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A barbeque costs a retailer ​$671 less 20 2/3​%, 10​%, 7​%. Markup is 54% of the...

A barbeque costs a retailer ​$671 less 20 2/3​%, 10​%, 7​%. Markup is 54% of the regular selling price. During the​ end-of-season sale, the barbeque is marked down 15%.

​(a) What is the​ end-of-season sale​ price?

​(b) What rate of markup based on cost will be realized during the​ sale?

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Answer #1

Detailed Calculation given below

Details Rate
Value Given 671.00
Less: 20 2/3% or 20.67% 138.70
Value 1 532.30
Less: 10% on value 1 53.23
Value 2 479.07
Less: 7% on Value 2 33.54
Cost 445.54
Add: Markup @54% 523.02
(445.5387 / 46 x 54)
Selling Price ( cost + Mark up) 968.56
Less: Mark down 15% @ SP 145.28
END of Season Price 823.28

(a) What is the​ end-of-season sale​ price?

Ans: 823.28

​(b) What rate of markup based on cost will be realized during the​ sale?

Rate of markup on cost on regular selling = 523.02/445.54 x 100 = 117.39% on cost

Rate of Markup on Cost during end of season = 823.28 - 445.54 = 377.74 Profit.

337.74/445.54 x 100 = 75.8046

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