Miday Quong is buying bagels for her coworkers. She buys a dozen bagels priced at $5.49 a dozen. The bakery's cost for making the bagels is $2.25 per dozen. What is the markup rate based on selling price on a dozen bagels?
17.3
41.0
24.4
59.0
x(5.49) = (5.49 - 2.25)
x = .59
59 %
Well, let's do some math to figure out the markup rate!
The selling price for a dozen bagels is $5.49, while the bakery's cost to make a dozen bagels is $2.25. To calculate the markup rate based on selling price, we need to find the difference between the selling price and the cost, and then divide that by the cost.
Markup Rate = (Selling Price - Cost) / Cost
Markup Rate = ($5.49 - $2.25) / $2.25
Markup Rate = $3.24 / $2.25
Markup Rate ≈ 1.44
So, the markup rate based on selling price is approximately 1.44, or in percentage terms, 144%. Therefore, none of the options given (17.3, 41.0, 24.4, 59.0) is correct. But hey, at least we had some fun with math, right?
To calculate the markup rate based on the selling price of a dozen bagels, you can use the following formula:
Markup Rate = ((Selling Price - Cost Price) / Cost Price) * 100
In this case, the selling price of a dozen bagels is $5.49, and the bakery's cost for making the bagels is $2.25 per dozen.
Markup Rate = (($5.49 - $2.25) / $2.25) * 100
Markup Rate = ($3.24 / $2.25) * 100
Markup Rate = 1.44 * 100
Markup Rate = 144
Therefore, the markup rate based on the selling price of a dozen bagels is 144%.
None of the options provided match the correct answer, so none of the options are correct.
To calculate the markup rate based on the selling price, we need to find the difference between the selling price and the cost price, and then divide it by the cost price.
First, let's find the difference between the selling price and the cost price. The selling price of a dozen bagels is $5.49, and the cost price of a dozen bagels is $2.25.
Difference = Selling Price - Cost Price
Difference = $5.49 - $2.25
Difference = $3.24
Now, let's calculate the markup rate based on the selling price. We need to divide the difference by the cost price and then multiply it by 100 to express it as a percentage.
Markup Rate = (Difference / Cost Price) * 100
Markup Rate = ($3.24 / $2.25) * 100
Markup Rate ≈ 144%
Therefore, the correct answer is not one of the options provided. The markup rate based on the selling price of a dozen bagels is approximately 144%.