Asked by Edouard Fils 2 Mankong on Jul 15, 2024
Verified
A shirt costing $30 was marked up by 150% and then reduced by 50%. What was the sale price?
A) $22.50
B) $60
C) $45
D) $37.50
E) $52.50
Marked Up
Marked Up refers to the increase in the selling price of goods beyond their initial cost. It represents the difference between the cost to the retailer and the price for which they sell the goods to end customers.
Sale Price
The final price at which an item is sold, after any discounts or promotions are applied.
- Foster the expertise to analyze mark-up rates and designate selling prices in scenarios typical to business.
- Review how discounts, markdowns, and operating expenses affect product pricing mechanisms.
Verified Answer
FS
Faith SorianoJul 22, 2024
Final Answer :
D
Explanation :
The shirt was first marked up by 150% of $30, which is $45, making the new price $75. Then, it was reduced by 50%, which is $37.50.
Learning Objectives
- Foster the expertise to analyze mark-up rates and designate selling prices in scenarios typical to business.
- Review how discounts, markdowns, and operating expenses affect product pricing mechanisms.