1. ZG Jewelers purchased fashion bracelets for $38.87. This jewelry store regularly marks up fashion merchandise 52% of the selling price. What is the minimum selling price that ZG Jewelers should charge?
57.20
59.23
80.98
94.94
.52 s = s - 38.87
38.87 = .48 s
s = 80.98
To find the minimum selling price that ZG Jewelers should charge, we need to calculate the markup and add it to the purchase price.
Step 1: Calculate the markup
Multiply the purchase price ($38.87) by the markup percentage (52%).
Markup = Purchase Price * Markup Percentage
= $38.87 * 52%
= $38.87 * 0.52
= $20.17 (rounded to two decimal places)
Step 2: Add the markup to the purchase price
Minimum Selling Price = Purchase Price + Markup
= $38.87 + $20.17
= $59.04 (rounded to two decimal places)
Based on this calculation, the minimum selling price that ZG Jewelers should charge is $59.04. However, none of the answer choices provided match this calculation.