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An Appliance Store Sells Electric Kettles at a Markup of 23.6

Question 55

Essay

An appliance store sells electric kettles at a markup of 23.6% of the selling price. The store's margin on a particular model is $7.78.
a) For how much does the store sell the kettles?
b) What was the cost of kettles to the store?
c) What is the percent markup based on cost?

Correct Answer:

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a) M= $7.78 and represents 23....

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