Homework Help: Business Finance

Posted by Renee on Wednesday, February 1, 2012 at 12:11pm.

Sullivan's Handbags marks up their bags at 45% of the selling price. Pat Sullivan saw a bag at a trade show that would sell for her customers for $85. What is the most she would pay for the bag and still retain the 45% markup of the selling price?
I came up with 84.99 please check my answer.

Business Finance - KD, Thursday, February 2, 2012 at 9:44pm
5. What is the most she can pay for the bag and still retain 45% markup of the selling price? $46.75
Sells to customer $85.00 Trader 0.45x100x$85 = 38.25 $85.00 -$38.25 = $46.75

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