The Stereo Shop sold a radio regularly priced at $125 for $75. The cost of the radio was $120 less 33 1⁄3% and 15%. The store’s overhead expense is 12% of the regular selling price.
(a) What was the rate of markdown at which the radio was sold?
(b) What was the operating profit or loss?
(c) What rate of markup based on cost was realized?
(d) What was the rate of markup based on the sale price?