Mathematics
Grade-7
Easy
Question
Determine the selling price of pair of anklets is $32 with a 10% of mark-up.
- 35.2
- 35.26
- 30
- 27.29
Hint:
Mark up means value added to the original value. In terms of goods, it’s the value added to the cost price. It is added to gain a profit. A percentage markup is a percent increase in the original value. In this question, we have the cost price of the anklet and a percentage mark-up. From these, we have to find the selling price of anklets.
The correct answer is: 35.2
The cost price of the anklets is $32 and the mark-up percentage is 10%.
IIt means the increase in the percentage of the cost price is 10%.
Let's have a look at the mark-up percentage formula
From the above formula, we can ses that we have all values except for selling price. And this is exactly the value we are asked to find out. We can rearrange the formula for selling price.
To rearrange the forumula we will multiply both the sides by cost price and divide both sides by 100. After doing that we get the following formula.
Now let's substitute the values for cost price and mark-up percentage
= selling price - 32
3.2 = selling price -32
Rearranging we get,
Selling price = 32+3.2
Selling price = 35.2
So selling price of the anklets will be $35.2
Therefore option (a), which is '35.2' is the right option.
We have to see the values mentioned. And we have to rearrange the formulas according.
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