At The Luminary, the markup on a halogen light fixture is 50% based on selling price. What is the corresponding percent markup based on cost?
If the markup of a fluorescent light fixture transformer is 120% based on the cost, what is the corresponding percent markup based on selling price? (Round percent to the nearest tenth
To find the corresponding percent markup based on cost, you can use the following formula:
Markup based on cost (%) = (Markup based on selling price (%) / (100 + Markup based on selling price (%))) * 100
For the halogen light fixture, the markup based on selling price is 50%. Let's calculate the corresponding percent markup based on cost:
Markup based on cost (%) = (50 / (100 + 50)) * 100
Markup based on cost (%) = (50 / 150) * 100
Markup based on cost (%) = 0.333... * 100
Markup based on cost (%) = 33.33...%
Therefore, the corresponding percent markup based on cost for the halogen light fixture is approximately 33.3%.
For the fluorescent light fixture transformer, the markup based on cost is 120%. Let's calculate the corresponding percent markup based on selling price:
Markup based on selling price (%) = (Markup based on cost (%) / (100 - Markup based on cost (%))) * 100
Markup based on selling price (%) = (120 / (100 - 120)) * 100
Markup based on selling price (%) = (120 / (-20)) * 100
Markup based on selling price (%) = -6 * 100
Markup based on selling price (%) = -600%
However, since it doesn't make sense to have a negative markup, we round the percent to the nearest tenth:
Markup based on selling price (%) = 600%
Therefore, the corresponding percent markup based on selling price for the fluorescent light fixture transformer is 600%.
To find the corresponding percent markup based on cost, we need to use the formula:
Percent Markup on Cost = (Percent Markup on Selling Price) / (1 + Percent Markup on Selling Price)
For the halogen light fixture:
Percent Markup on Selling Price = 50%
Plugging this into the formula:
Percent Markup on Cost = (50%) / (1 + 50%)
Percent Markup on Cost = 50% / (1.5)
Percent Markup on Cost = 33.3% (rounded to the nearest tenth)
For the fluorescent light fixture transformer:
Percent Markup on Cost = 120%
Plugging this into the formula:
Percent Markup on Selling Price = (120%) / (1 - 120%)
Percent Markup on Selling Price = 120% / (2.2)
Percent Markup on Selling Price = 54.5% (rounded to the nearest tenth)
So, the corresponding percent markup based on cost for the halogen light fixture is 33.3% and for the fluorescent light fixture transformer is 54.5%.