a retail rug store marks up all items by 25% of the wholesale price. the wholesale price of a premier rug is $200 for a luxury rug is $300. what is the consumer price for the two different things
1.25 times the original price
To calculate the consumer price for the premier rug, we need to apply a 25% markup on the wholesale price of $200.
Step 1: Calculate the markup amount
Markup Amount = Wholesale Price * Markup Percentage
Markup Amount = $200 * 0.25 = $50
Step 2: Add the markup amount to the wholesale price
Consumer Price = Wholesale Price + Markup Amount
Consumer Price = $200 + $50 = $250
Therefore, the consumer price for the premier rug is $250.
To calculate the consumer price for the luxury rug, we will follow the same steps.
Step 1: Calculate the markup amount
Markup Amount = Wholesale Price * Markup Percentage
Markup Amount = $300 * 0.25 = $75
Step 2: Add the markup amount to the wholesale price
Consumer Price = Wholesale Price + Markup Amount
Consumer Price = $300 + $75 = $375
Therefore, the consumer price for the luxury rug is $375.
To calculate the consumer price for the premier rug and luxury rug, we need to consider the 25% markup on the wholesale prices.
Let's start with the premier rug, which has a wholesale price of $200. To find the markup amount, we multiply the wholesale price by 25%:
Markup = $200 * 0.25 = $50
The markup for the premier rug is $50. To calculate the consumer price, we add the markup to the wholesale price:
Consumer Price = Wholesale Price + Markup = $200 + $50 = $250
Therefore, the consumer price for the premier rug is $250.
Next, let's calculate the consumer price for the luxury rug, which has a wholesale price of $300. Again, we find the markup amount by multiplying the wholesale price by 25%:
Markup = $300 * 0.25 = $75
The markup for the luxury rug is $75. Adding the markup to the wholesale price, we get the consumer price:
Consumer Price = Wholesale Price + Markup = $300 + $75 = $375
Therefore, the consumer price for the luxury rug is $375.