Am i on the right track ? I have two percent problems. Please help.

Deb's Bakery marks up a cake it makes for $10 by 55%. Round up to the nearest cent.

* $10 x .55 = $5.50
* $10 + $5.50 = $15.50
* $15.51

The price of a loaf of bread went down to $0.45 from $0.50. What was the percent decrease in the price of the bread.

A)1% B)5% C)7.5% D)10% E)15%

Solution

$0.50 - $0.45 = .05
percent equivalent 5%

I can't understand,how is this the incorrect answer.


Your help is appreciated.

first one is good

in the second, you want the percentage of decrease
so .05/.50 = .1 = 10%

you just converted the $.05 to a percentage, there is no connection.
(that's like converting apples to oranges)

its 10%.

For the first problem, finding the marked up price of the cake, you are on the right track, but you made a small rounding error. Let's go through the steps again:

1. Calculate the markup amount: $10 x 0.55 = $5.50.
2. Add the markup amount to the original price: $10 + $5.50 = $15.50.

So the correct answer is $15.50, not $15.51.

For the second problem, finding the percent decrease in the price of the bread, you made a mistake in determining the percent equivalent. Here's the correct approach:

1. Calculate the decrease in price: $0.50 - $0.45 = $0.05.
2. To find the percent decrease, divide the decrease in price by the original price and multiply by 100: ($0.05 / $0.50) x 100 = 10%.

Therefore, the correct answer is D) 10%, not E) 15% as you mentioned.

Remember to carefully follow each step of the problem and double-check your calculations to ensure accuracy.