A jewelry store bought a gold necklace and marked it up 110% from the original cost of $23.52. Later on, Dean purchased the gold necklace and paid 14.75% sales tax. How much, including tax, did he pay for the gold necklace?
+2668 When you mark something up, you add the original price and how much it was marked up. For example, if you marked something up 50%, the new price is (the original price + 50% of the original price).
Applying the same logic here, we have \(23.52 + (1.1 \times 23.52) \approx 49.40\). The 23.52 represents the original price, and the 1.1 x 23.52 represents how much it was marked up.
The price after the mark up was \($49.40\). We now have to mark it up by \(14.75 \text{%}\).
Can you do this using the logic I just presented?
Feel free to ask if you need any help!!!
+2668 When you mark something up, you add the original price and how much it was marked up. For example, if you marked something up 50%, the new price is (the original price + 50% of the original price).
Applying the same logic here, we have \(23.52 + (1.1 \times 23.52) \approx 49.40\). The 23.52 represents the original price, and the 1.1 x 23.52 represents how much it was marked up.
The price after the mark up was \($49.40\). We now have to mark it up by \(14.75 \text{%}\).
Can you do this using the logic I just presented?
Feel free to ask if you need any help!!!
