The cost of a new pair of headphones is ₱94. The rate of mark-up based on selling price is 40%.What is the mark-up?
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Given : The cost of a new pair of headphones is ₱94. The rate of mark-up based on selling price is 40%.
To Find : What is the mark-up?
Solution:
Let say selling price = S
mark-up based on selling price is 40%.
=> Mark up = (40/100)S = 0.4S
Cost Price = S - 0.4S = 0.6S
cost of a new pair of headphones is ₱94
=> 0.6S = 94
=> S = 156.67 ₱
Mark up = 0.4S = 0.4 (156.67 ) = 62.67₱
or Mark Up = selling price - Cost price
= 156.67 - 94 = 62.67₱
mark-up = 62.67₱
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above answer is correct answer
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