Solve the problem Round amounts to the and percents to the o

Solve the problem Round amounts to the and percents to the of a percent cost Solve the problem. Round amounts to the nearest cent and percents to the nearest of a percent. Solve the problem. Round amounts to the nearest cent and percents to the nearest tenth of a percent.

Solution

Markup is defined as the difference between the selling price and the cost price in order to calculate the profit by the merchants

7) Cost = $5.22, Selling Price = $10.35

Markup = Selling Price - Cost Price

=> $10.35 - $5.22

=> $5.13

Hence the correct answer is Option B

8) Markup= $16.15, Selling Price = $95.00

Markup = Selling Price - Cost Price

$16.15 = $95.00 - Cost Price

Cost Price = $95.00 - $16.15 = $78.85

Hence the correct answer is Option C