EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS Solve the following situations (markups based on cost): 1. Irene Westing bought a desk for $800 from an office supply house. She plans to sell the 2. 3. desk for $1,200. What is Irene's dollar markup? What is her percent markup on cost? Check your answer. Suki Komar bought dolls for her toy store that cost $14 each. To make her desired profit, Suki must mark up each doll 38% on cost. What is the dollar markup? What is the selling price of each doll? Check your answer. Jay Lyman sells calculators. His competitor sells a new calculator line for $16 each. Jay needs a 42% markup on cost to make his desired profit, and he must meet price competi- tion. At what cost can Jay afford to bring these calculators into the store? What is the dollar markup? Check your answer. m EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS Solve the following situations (markups based on selling price). 1. Irene Westing bought a desk for $800 from an ofce supply house. She plans to sell the desk for $1,200. What is Irene's dollar markup? What is her percent markup on selling price (rounded to the nearest tenth percent)? Check your answer. Selling price will be slightly off due to rounding. Suki Komar bought dolls for her toy store that cost $14 each. To make her desired profit, Suki must mark up each doll 38% on selling price. What is the selling price of each doll? What is the dollar markup? Check your answer. Jay Lyman sells calculators. His competitor sells a new calculator line for $16 each. Jay needs a 42% markup on the selling price to make his desired profit, and he must meet price competition. What is Jay's dollar markup? At what cost can Jay afford to bring these calculators into the store? Check your answer. Dan Plow sells wrenches for $12 that cost $7. What is Dan's percent markup on cost? Round to the nearest tenth percent. What is Dan's percent markup on selling price? Check your