27. -/3.44 points the wholesale cost of a bird - cage is $55. the original markup was 46% based on selling…

27. -/3.44 points the wholesale cost of a bird - cage is $55. the original markup was 46% based on selling price. find the final sale price (in $) after the following series of price changes: a markdown of 18% and a markup of 11%. (round each intermediate selling price to the nearest cent.)

27. -/3.44 points the wholesale cost of a bird - cage is $55. the original markup was 46% based on selling price. find the final sale price (in $) after the following series of price changes: a markdown of 18% and a markup of 11%. (round each intermediate selling price to the nearest cent.)

Answer

Explanation:

Step1: Let the original selling price be $x$.

The cost is $55$ and the markup was $46%$ based on selling - price. So, the cost is $(1 - 0.46)x$. We have the equation $(1 - 0.46)x=55$, which simplifies to $0.54x = 55$. Solving for $x$, we get $x=\frac{55}{0.54}\approx101.85$.

Step2: First, apply the markdown of $18%$.

The price after the markdown is $x_1=(1 - 0.18)\times101.85 = 0.82\times101.85\approx83.52$.

Step3: Then, apply the markup of $11%$.

The final selling price is $x_2=(1 + 0.11)\times83.52=1.11\times83.52\approx92.71$.

Answer:

$92.71$