calculate the missing information. round dollars to the nearest cent and percents to the nearest tenth of a…

calculate the missing information. round dollars to the nearest cent and percents to the nearest tenth of a percent. item: hat cost: $38.75 amount of markup: $40.00 selling price: $ percent markup based on cost: %

calculate the missing information. round dollars to the nearest cent and percents to the nearest tenth of a percent. item: hat cost: $38.75 amount of markup: $40.00 selling price: $ percent markup based on cost: %

Answer

Explanation:

Step1: Calculate the selling price

The selling price is the sum of the cost and the markup. So, we add the cost ($38.75) and the markup ($40.00). $38.75 + 40.00=78.75$

Step2: Calculate the percent - markup based on cost

The formula for percent - markup based on cost is $\frac{\text{Markup}}{\text{Cost}}\times100%$. Substitute the given values: $\frac{40.00}{38.75}\times 100%$. $\frac{40.00}{38.75}\times100%=\frac{4000}{38.75}% \approx 103.2%$

Answer:

Selling price: $$78.75$ Percent Markup Based on Cost: $103.2%$