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.\n| item | cost | amount of markup | selling price (in $) | percent markup based on cost | percent markup based on selling price |\n| ---- | ---- | ---- | ---- | ---- | ---- |\n| bar of soap | $1.14 | $0.79 | $ | | |

calculate the missing information. round dollars to the nearest cent and percents to the nearest tenth of a percent.\n| item | cost | amount of markup | selling price (in $) | percent markup based on cost | percent markup based on selling price |\n| ---- | ---- | ---- | ---- | ---- | ---- |\n| bar of soap | $1.14 | $0.79 | $ | | |

Answer

Explanation:

Step1: Calculate selling price

Selling price = Cost + Amount of Markup. So, $1.14 + 0.79=$1.93$.

Step2: Calculate percent markup based on cost

Percent Markup based on Cost = $\frac{\text{Amount of Markup}}{\text{Cost}}\times100%$. So, $\frac{0.79}{1.14}\times 100%\approx 69.3%$.

Step3: Calculate percent markup based on selling price

Percent Markup based on Selling Price = $\frac{\text{Amount of Markup}}{\text{Selling Price}}\times100%$. So, $\frac{0.79}{1.93}\times 100%\approx 40.9%$.

Answer:

Selling Price: $$1.93$; Percent Markup Based on Cost: $69.3%$; Percent Markup Based on Selling Price: $40.9%$