an elementary school wants to purchase a new swing set. the table shows the selling price of the swing sets…

an elementary school wants to purchase a new swing set. the table shows the selling price of the swing sets they are interested in buying.\n\n| swing set | adventurers | thunder ridge |\n|--|--|--|\n| wholesale price ($) | 3,056 | 4,125 |\n\nthe markup for both swing sets is 20 1/4%. the school decides to buy the adventurers swing set. what is the selling price of the swing set they are buying? round to the nearest cent if necessary.

an elementary school wants to purchase a new swing set. the table shows the selling price of the swing sets they are interested in buying.\n\n| swing set | adventurers | thunder ridge |\n|--|--|--|\n| wholesale price ($) | 3,056 | 4,125 |\n\nthe markup for both swing sets is 20 1/4%. the school decides to buy the adventurers swing set. what is the selling price of the swing set they are buying? round to the nearest cent if necessary.

Answer

Explanation:

Step1: Convert the markup percentage to decimal

$20\frac{1}{4}%=\frac{81}{4}\div100 = 0.2025$

Step2: Use the formula for selling - price

The selling - price formula is $Selling\ price=Wholesale\ price\times(1 + Markup\ percentage)$. The wholesale price of the Adventurers swing - set is $3056$. So, $S = 3056\times(1 + 0.2025)=3056\times1.2025$.

Step3: Calculate the selling price

$3056\times1.2025=3056\times\frac{12025}{10000}=\frac{3056\times12025}{10000}=\frac{3056\times(12000 + 25)}{10000}=\frac{(3056\times12000+3056\times25)}{10000}=\frac{(36672000 + 76400)}{10000}=\frac{36748400}{10000}=3674.84$

Answer:

$3674.84$