5. madison, jetaine and malichi operate triple t bistro. they markup their sandwiches by 325%. cooper buys a…

5. madison, jetaine and malichi operate triple t bistro. they markup their sandwiches by 325%. cooper buys a sandwich that costs $2.15 to produce.\na. what is the markup on this sandwich?\nb. what is the total cost for this sandwich?\nc. what would cooper pay in total if 5% gst is also added to the sandwich cost?

5. madison, jetaine and malichi operate triple t bistro. they markup their sandwiches by 325%. cooper buys a sandwich that costs $2.15 to produce.\na. what is the markup on this sandwich?\nb. what is the total cost for this sandwich?\nc. what would cooper pay in total if 5% gst is also added to the sandwich cost?

Answer

Explanation:

Step1: Calculate the markup amount

Markup amount = Cost × Markup percentage. Given cost = $2.15 and markup percentage = 325% = 3.25. So, Markup amount = $2.15×3.25 = $7.0875\approx$7.09.

Step2: Calculate the total cost before GST

Total cost before GST = Cost + Markup amount. So, Total cost before GST = $2.15 + 7.09=$9.24.

Step3: Calculate the total cost with GST

GST amount = Total cost before GST×GST rate. GST rate = 5%=0.05. GST amount = $9.24×0.05 = $0.462\approx$0.46. Total cost with GST = Total cost before GST+GST amount = $9.24 + 0.46=$9.70.

Answer:

a. $7.09 b. $9.24 c. $9.70