19. -/3.44 points a purchaser paid $347.50 for a tv that cost the seller $250. if the sellers markup was 39%…

19. -/3.44 points a purchaser paid $347.50 for a tv that cost the seller $250. if the sellers markup was 39% of the $250 cost, then what would be the percent markup based on the selling price? (round your answer to the nearest tenth of a percent.)

19. -/3.44 points a purchaser paid $347.50 for a tv that cost the seller $250. if the sellers markup was 39% of the $250 cost, then what would be the percent markup based on the selling price? (round your answer to the nearest tenth of a percent.)

Answer

Explanation:

Step1: Calculate the markup amount

The cost of the TV for the seller is $C = 250$. The markup is 39% of the cost. So the markup amount $M$ is $M=0.39\times250 = 97.5$.

Step2: Calculate the percent - markup based on the selling price

The selling price $S = 347.50$. The formula for percent - markup based on the selling price is $\text{Percent Markup}=\frac{M}{S}\times100%$. Substitute $M = 97.5$ and $S=347.50$ into the formula: $\text{Percent Markup}=\frac{97.5}{347.50}\times100%$. $\frac{97.5}{347.50}\times100%=\frac{9750}{347.5}% \approx 28.1%$

Answer:

28.1%