When the first Harry Potter movie came out, "The Sorcerer's Stone," a local book store marked all the Harry Potter books up by 12.5%. If "The Sorcerer's Stone" paperback cost $7.37 before the movie came out, how much did it cost after the mark up?
My answer is 12.5% turned into a decimal which is .125 times $7.37 which is 0.92125 which makes no sense at all. What do i do ? Do i add 0.92 plus $7.37 ?? If someone could help me i would really appreciate it
you need to add the tax. So the final cost is
1.125 * 7.37 = 8.29
What you did is correct. you add the 0.92 and 7.37, to get 8.29
My way gets the same answer, but avoids the step of explicitly calculating the tax.
1.125 = 1 + 0.125
Ohh ok Thank you! I
how would this go if the 12.5% was a 40.5%
To calculate the price after the 12.5% markup, you need to add the markup amount to the original price. I will guide you through the process step by step.
Step 1: Convert the markup percentage to a decimal by dividing it by 100. In this case, 12.5% is equivalent to 0.125.
Step 2: Find the markup amount by multiplying the original price by the markup decimal. In this case, the markup amount is $7.37 * 0.125 = $0.92125.
Step 3: Add the markup amount to the original price to get the final price after the mark up. So, $7.37 + $0.92125 = $8.29125.
Now, rounding the final price to two decimal places, the cost of "The Sorcerer's Stone" paperback after the 12.5% markup would be approximately $8.29.