The buyer needs a group of T-shirts for a special sale. He buys 40 dozen at $84/dozen, 20 dozen at $96/ dozen, and 15 dozen at $120/dozen. If he marks them all at a sale price of $18.00 each, what markup percent is realized on the merchandise?

Name: Solved: The buyer needs a group of T-shirts for a special sale. He buys 40 dozen at $84/dozen, 20 dozen at $96/ dozen, and 15 dozen at $120/dozen. If he marks them all at a sale price of $18.00 each, what markup percent is realized on the merchandise? - MathMaster
Brand: MathMaster
Rating: 4.9 (137 reviews)

137

likes

685 views

Answer to a math question The buyer needs a group of T-shirts for a special sale. He buys 40 dozen at $84/dozen, 20 dozen at $96/ dozen, and 15 dozen at $120/dozen. If he marks them all at a sale price of $18.00 each, what markup percent is realized on the merchandise?

$Expert avatar$

Santino

4.5

112 Answers

The buyer needs a group of T-shirts for a special sale. He buys 40 dozen at $84/dozen, 20 dozen at $96/ dozen, and 15 dozen at $120/dozen. If he marks them all at a sale price of $18.00 each, what markup percent is realized on the merchandise? To find the markup percent, we need to calculate the total cost of purchasing the T-shirts and compare it to the total revenue from selling them. Let's start by calculating the total cost of purchasing the T-shirts. The buyer buys 40 dozen at $84/dozen, which is a total cost of: $84/dozen * 40 dozen = $3360 Then, the buyer buys 20 dozen at $96/dozen, which is a total cost of: $96/dozen * 20 dozen = $1920 Finally, the buyer buys 15 dozen at $120/dozen, which is a total cost of: $120/dozen * 15 dozen = $1800 Now, let's calculate the total cost: Total Cost = $3360 + $1920 + $1800 = $7080 Next, let's calculate the total revenue from selling the T-shirts. The buyer marks all the T-shirts at a sale price of $18.00 each. To find the total revenue, we need to multiply the sale price by the total number of T-shirts. There are 40 dozen + 20 dozen + 15 dozen = 75 dozen T-shirts. Since a dozen is equal to 12, the total number of T-shirts is: 75 dozen * 12 = 900 T-shirts Now, let's calculate the total revenue: Total Revenue = $18.00/T-shirt * 900 T-shirts = $16200 The markup is the difference between the total revenue and the total cost. Markup = Total Revenue - Total Cost Markup = $16200 - $7080 = $9120 The markup percent is calculated by dividing the markup by the total cost and then multiplying by 100. Markup Percent = (Markup / Total Cost) * 100 Now, let's calculate the markup percent: Markup Percent = ($9120 / $7080) * 100 Markup Percent = 128.81% Therefore, the markup percent realized on the merchandise is 128.81%. ∴ Answer: The markup percent realized on the merchandise is 128.81%.

Frequently asked questions (FAQs)

What is 3π/5 in degrees?

What are the characteristics of the hyperbola given by the equation (x/a)^2 - (y/b)^2 = 1?

What is the equivalent of 6.75 x 10^4 in standard form?

New questions in Mathematics

-11+29-18

58+861-87

A brass cube with an edge of 3 cm at 40 °C increased its volume to 27.12 cm3. What is the final temperature that achieves this increase?

The data set (75, 85, 58, 72, 70, 75) is a random sample from the normal distribution No(µ, σ). Determine a 95% two-sided confidence interval for the mean µ .

(2b) to the 1/4th power. Write the expression in radical form.

prove that if n odd integer then n^2+5 is even

Let r: x - y 5 = 0. Determine a general equation of the line s parallel to the line r, which forms an isosceles triangle with area 8 with the line x = 5 and the Ox axis.