The retail price of a set of four leather-bound J.K.Rowling novels is $75 and the initial markup is 51 percent.Calculate the merchandise cost.
A) $33.75
B) $25.71
C) $28.50
D) $36.75
E) $42.85

Name: The retail price of a set of four leather-bound J.K.Rowling novels is $75 and the initial markup is 51 percent.Calculate the merchandise cost. A) $33.75 B) $25.71 C) $28.50 D) $36.75 E) $42.85
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Question

Quizplus · Accepted Answer

Cost = $Retail × (100% - Markup %) i.e., $Retail × Cost %$75 × ($60 × 51%) $75 × 38.25% = $36.75

The Retail Price of a Set of Four Leather-Bound J