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A Men's Clothing Store Marks Up Suits by 75% of Cost

Question 39

Short Answer

A men's clothing store marks up suits by 75% of cost. This provides an operating profit of 15% of the selling price. If a suit's cost to the store is $132, determine
a. It's selling price
b. The rate of markup on selling price
c. The operating profit

Correct Answer:

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a) $231.00...

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