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?
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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?
Santino
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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%.
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