Question 7 (8 marks)
Round all percent's to the nearest tenth of a percent (2 points for each correct answer)
a. Susan Chin owns a firm that sells office furniture to local businesses. One set of six
matched pieces costs. Susan $2,100. To cover her own business expenses and allow a )
reasonable profit. Susan marks up this set by 75% of the cost. Find the dollar markup and
the selling price
b. Stan Wegner manufactures a handheld heart monitoring device. He sells it for $840, which
represents a markup of 275% on his production cost. Stan marks it up this much to cover
additional business expenses and profit as well as product development Find Stan's
production cost and the dollar markup.
c. Sentry Security Systems sells burglar and fire alarm systems for homes and small
businesses One basic system costs Sentry $720. Sentry marks up the alarm system by
$396. Find the selling price, and find the markup percent based on cost.
d. After Matt Lord drove his father's car with no oil, the car needed a new engine. A local
mechanic charged Matt s father $2,250 for a rebuilt engine that cost the mechanic $1,800.
All labour was additional. Compute the dollar markup and the markup percent based on
the cost of the engine.
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The Kansas-Nebraska Act was passed by the U.S. Congress on May 30, 1854. It allowed people in the territories of Kansas and Nebraska to decide for themselves whether or not to allow slavery within their borders. The Act served to repeal the Missouri Compromise of 1820 which prohibited slavery north of latitude 36°30
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