In October, a hardware store purchased snow shovels for $8 each. The original markup was 50% based on the selling price. In December, the store had a sale and marked down the shovels by 20%. By January 1, the sale was over and the shovels were marked up 15%. In March, the store held a clearance sale of all winter tools by having a final markdown of 60%. What was the final selling price of the shovels?
Jennifer Brunner works 40 hours per week as a chef's assistant. At the rate of $7.60 per hour, what are her gross weekly earnings?
8+50%=16
16-20%=12.80
12.80+15%=14.72
14.72-60%=5.88
$5.90 rounded
X+1 x-1
To find the final selling price of the shovels, we need to follow the given steps:
Step 1: Calculate the initial selling price after the 50% markup in October.
The original selling price is obtained by multiplying the cost price by (1 + markup percentage).
Markup percentage = 50%
Cost price = $8
Markup amount = Cost price * Markup percentage
= $8 * 50% = $4
Selling price = Cost price + Markup amount
= $8 + $4= $12
Step 2: Calculate the selling price after the 20% markdown in December.
Markdown percentage = 20%
Markdown amount = Selling price * Markdown percentage
= $12 * 20% = $2.4
Selling price after markdown = Selling price - Markdown amount
= $12 - $2.4 = $9.6
Step 3: Calculate the selling price after the 15% markup in January.
Markup percentage = 15%
Markup amount = Selling price after markdown * Markup percentage
= $9.6 * 15% = $1.44
Selling price after markup = Selling price after markdown + Markup amount
= $9.6 + $1.44 = $11.04
Step 4: Calculate the final selling price after the 60% clearance sale in March.
Markdown percentage = 60%
Markdown amount = Selling price after markup * Markdown percentage
= $11.04 * 60% = $6.624
Final selling price = Selling price after markup - Markdown amount
= $11.04 - $6.624 = $4.416
Therefore, the final selling price of the shovels after all the calculations and markdowns is $4.416.