Ski Market sells snowboards. Ski Market knows that the most people will pay for the snowboards is $129.99. Ski Market is convinced that it needs a 45% markup based on cost. The most that Ski Market can pay to its supplier for the snowboards is:
1.45*cost = 129.99
cost = 129.99/1.45 = ...
To calculate the maximum amount that Ski Market can pay to its supplier for the snowboards, we need to figure out the cost price.
Let's assume the cost price is x.
According to the given information, Ski Market wants a 45% markup based on cost. This means the selling price will be 100% + 45% = 145% of the cost price.
The selling price is $129.99, which is equal to 145% of the cost price.
So, we can set up the following equation:
145% of x = $129.99
To solve for x, we divide both sides of the equation by 145% (or 1.45):
x = $129.99 ÷ 1.45
Evaluating the expression, we find:
x ≈ $89.65
Therefore, Ski Market can pay a maximum of $89.65 to its supplier for the snowboards.
To find the most that Ski Market can pay to its supplier for the snowboards, we need to work backwards from the selling price.
Let's assume that the cost price of the snowboards is represented by "x" dollars.
Since Ski Market wants a 45% markup based on cost, the selling price would be the cost price plus the markup. Mathematically, this can be expressed as:
Selling Price = Cost Price + Markup
$129.99 = x + 0.45x
Simplifying the equation:
$129.99 = 1.45x
To isolate "x" (the cost price), divide both sides of the equation by 1.45:
x = $129.99 / 1.45
Calculating this:
x ≈ $89.65
Therefore, the most that Ski Market can pay to its supplier for the snowboards is approximately $89.65.