A new parka with a manufacturer's price of $220 was marked up 120%, but was sold at a discount of 40% at the end of the season. If 15% sales tax was added to this cost, then the total price paid by the customer was...
220 * 2.20 * 0.60 * 1.15 = ____
To find the total price paid by the customer, we need to follow these steps:
Step 1: Calculate the price after the manufacturer's markup of 120%.
Markup = (Manufacturer's Price) * (Markup Percentage) = $220 * 120% = $220 * 1.2 = $264.
Step 2: Calculate the price after the discount of 40%.
Discounted Price = (Markup Price) - (Discount Percentage * Markup Price)
= $264 - (40% * $264) = $264 - (0.4 * $264) = $264 - $105.6 = $158.4.
Step 3: Add the 15% sales tax to the price after the discount.
Total Price = Discounted Price + (Sales Tax Percentage * Discounted Price)
= $158.4 + (15% * $158.4) = $158.4 + $23.76 = $182.16.
Therefore, the total price paid by the customer is $182.16.
To calculate the total price paid by the customer, we'll need to follow these steps:
Step 1: Calculate the marked-up price.
To determine the marked-up price, we'll need to add the markup percentage to the manufacturer's price:
Markup = Manufacturer's price * Markup percentage
Markup = $220 * 120/100
Markup = $264
Step 2: Calculate the discounted price.
To find the discounted price, we'll need to subtract the discount percentage from the marked-up price:
Discount = Marked-up price * Discount percentage
Discount = $264 * 40/100
Discount = $105.60
Discounted price = Marked-up price - Discount
Discounted price = $264 - $105.60
Discounted price = $158.40
Step 3: Add the sales tax.
To calculate the sales tax, we'll multiply the discounted price by the sales tax percentage:
Sales Tax = Discounted price * Sales tax percentage
Sales Tax = $158.40 * 15/100
Sales Tax = $23.76
Step 4: Calculate the total price paid by the customer.
Total price = Discounted price + Sales Tax
Total price = $158.40 + $23.76
Total price = $182.16
Therefore, the total price paid by the customer is $182.16.