Source: Magoosh
Jennifer can buy watches at a price of B dollars per watch, which she marks up by a certain percentage before selling. If she makes a total profit of T by selling N watches, then in terms of B and T and N, what is the percent of markup from her buy price to her sell price?
A. \(\dfrac{100T}{NB}\)
B. \(\dfrac{TB}{100N}\)
C. \(\dfrac{100TN}{B}\)
D. \(\dfrac{\frac{T}{N} - B}{100B}\)
E. \(100\dfrac{T-NB}{N}\)
The OA is A
Jennifer can buy watches at a price of B dollars per watch, which she marks up by a certain percentage before selling.
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Solution:BTGmoderatorLU wrote: ↑Sat Oct 08, 2022 5:45 pmSource: Magoosh
Jennifer can buy watches at a price of B dollars per watch, which she marks up by a certain percentage before selling. If she makes a total profit of T by selling N watches, then in terms of B and T and N, what is the percent of markup from her buy price to her sell price?
A. \(\dfrac{100T}{NB}\)
B. \(\dfrac{TB}{100N}\)
C. \(\dfrac{100TN}{B}\)
D. \(\dfrac{\frac{T}{N} - B}{100B}\)
E. \(100\dfrac{T-NB}{N}\)
The OA is A
The profit (or markup) per watch is T/N. So the markup is:
(T/N)/B x 100 = 100T/(NB)
percent of the purchase price.
Alternate Solution:
Jennifer’s profit per watch is T/N. Using the formula for profit, we can compute Jennifer’s sell price:
profit = sell price – buy price
T/N = sell price – B
T/N + B = sell price
We now use the percent markup formula:
% markup = (Sell price – Buy price) / Buy price x 100
% markup = (T/N + B – B) / B x 100
% markup = T/N / B x 100
% markup = T/BN x 100
% markup = 100T / (BN)
Answer: A
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