A store purchased 75 notebooks at a price of $2.30 each. It sold 25 notebooks at the

Question:

A store purchased 75 notebooks at a price of $2.30 each. It sold 25 notebooks at the regular selling price, 30 at a markdown price of $5.50, and the remaining at cost.

a. What was the regular selling price of the notebooks if the store maintained a net markup rate of 60% based on total sales?

b. What was the rate of markup on the regular selling price?

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