The wholesale cost of a refrigerator is 1350 The original ma

The wholesale cost of a refrigerator is $1,350. The original markup was 54% based on selling price. Find the final sale price after the following series of price changes: a markdown of 5%, a markup of 6%, a markup of 10% and a markup of 17%. (Round each intermediate selling price to the nearest cent.)

Solution

Cost price +markup = selling price

CP+M=SP

1350+.54SP=SP

SP=1350/0.46=$2934.78

After markdown 5%=2934.78*.95=$2788.04

After markup 6%=2788.04*1.06=$2955.32

After markup 10%=2955.32*1.1=$3250.86

After markup 17%=3250.86*1.17=$3803.50