1. A merchant buys an item listed at Php 960, less 3313%from a distributor. The overhead is 32% of the cost, and the profit is 27.5% of the cost. For how much should the item be retailed?

2. ABC Inc. buys travel mugs for Php 45.75 and sells them for Php 73.20. Find the rate of markup based on cost, the markup, and the markup based on the selling price.