Help please...
Lyndi has started a home business making and selling all natural
goat milk soaps.
1. If the cost of the materials for a basic bar of soap is $2.50 and
Lyndi sells each bar of soap for $4.50, what is the markup percent?
2. Lyndi sells intricately shaped holiday soaps for $9 each.
After each holiday, she marks the related soaps down to
$6.75. What percent discount should she advertise on her
social media site?
I know number one is 80% and number 2 is 25%, but I don't know how to describe how I got those answers, so can someone help me
250 x = 450
x = 1.80 = 1 + .80 = 100% + 80%
so 80% more
9 x = 6.75
x = 0.75 = 1 - 0.25 = 100% - 25%
so 25% less
THANK YOUU
450/250 = 1.8 = 180%.
Markup = 180 - 100 = 80%.
or 250 + r*250 = 450.
r = 0.8 = 80%.
Sure! I can help explain how to calculate the answers to these questions.
1. To find the markup percent, you would need to determine the difference between the selling price and the cost price, and then express that difference as a percentage of the cost price.
In this case, the cost of materials for a basic bar of soap is $2.50, and Lyndi sells each bar of soap for $4.50. To find the markup, subtract the cost price from the selling price: $4.50 - $2.50 = $2.
Next, calculate the markup percentage by dividing the markup by the cost price and multiplying by 100: ($2 / $2.50) * 100 = 80%.
Therefore, the markup percentage is 80%.
2. To find the percent discount, you would need to determine the difference between the original selling price and the discounted price, and then express that difference as a percentage of the original selling price.
In this case, Lyndi sells intricately shaped holiday soaps for $9 each, and she marks them down to $6.75 after each holiday. To find the discount, subtract the discounted price from the original price: $9 - $6.75 = $2.25.
Next, calculate the discount percentage by dividing the discount by the original selling price and multiplying by 100: ($2.25 / $9) * 100 = 25%.
Therefore, the percent discount she should advertise on her social media site is 25%.