Question 7

If Nathan purchased a phone for $225 and sells it for $274.

a.Calculate the rate of markup on cost.

(%, Round to two decimal places)

b.Calculate the rate of markup on selling price. (%, round to 2 decimal places)

Question 8

A computer assembly firm purchases computer parts at $215 per computer. The operating expenses are 30% on cost and rate of markup is 51% on cost.

a.What is the selling price of each computer? Round to the nearest cent

b.What is the operating profit per computer?

Question 9

Jordan sells clay pots at his pottery studio for $31 each. The overhead expenses are $12 per pot and operating profit is 25% on selling price.

a.What is his amount of markup per pot?

b.How much does it cost him to purchase each pot?