Question

A warehouse club allows non members to shop, but charges them a 10% mark up on all items purchased. If a computer costs $549.99 for members, what is the non member price?

Answer 1

Ok, I'd start by changing 549.99 to 550$ A tad easier that way

Answer 2

ok

Answer 3

Ok, so the problem states that 550$ is the normal price, for members. If nonmembers are charged 10% more, that means they pay 110% total. Do you understand why?

Answer 4

no

Answer 5

Alright, let me try a different tactic then...

Answer 6

First, multiply the member price, 550$ by 10%

Answer 7

5500

Answer 8

Did you hit percent?

Answer 9

10% is not the same as 10

Answer 10

Oh.

Answer 11

550

Answer 12

Drop one more zero. 55

Answer 13

How would I get that on a calculator?

Answer 14

Do you have a percent button? If not, you can also use .10 for 10%

Answer 15

that's 0.10 Not ten

Answer 16

No. I will try using the decimal. I got 55

Answer 17

Ok, excellent! 55 is 10% of 550. So, if you add 55 to the original price of 550, you get the 10% markup, your final answer. Try that, I'll be back in a minute

Answer 18

Ok!

Answer 19

$605

Answer 20

You got it :)

Answer 21

Pure awesomeness! The next question was should a member join the club prior to purchasing the computer if the fee is $40. I said yes.

Answer 22

That's right as well

Answer 23

:)

Answer 24

Do you understand why .10 is equal to 10%?

Answer 25

To cover his expenses, Denny marks the price of each item 30% more than his purchase price. What does Denny charge for items that cost him $1.04, $7.23, $9.99 and $42.77?

Answer 26

Ok, before I give you a hint, try to get the first. 1.04$

Answer 27

What do you mean?

Answer 28

Each item is marked up 30%, so there are four answers here

Answer 29

Remember on the last problem, you multiplied the original price by .1, for 30%, what would you use?

Answer 30

Division?

Answer 31

$3.33 is that the answer?

Answer 32

Hmm, let me see if I can teach you a short way to do this. So you remember in the last problem, you used .10 for 10%?

Answer 33

Yeah.

Answer 34

You need to use 30% in this, so what decimal would you use?

Answer 35

.30

Answer 36

Good. Now he's a little trick. 50% is .50, 85% is .85, and 100% is actually 1

Answer 37

Ok!

Answer 38

If you add your markup decimal (.30) to 1, you get 1.3 Right?

Answer 39

Where did the one come from?

Answer 40

Because the original price is 100% of itself, it's a bit complicated. Point is, if you take that 1.3 and multiply it by each of those prices, you get the correct answer

Answer 41

$1.04, $7.23, $9.99 and $42.77 Multiply each by 1.3 on your calculator

Answer 42

oh ok!

Answer 43

1.34
9.40
12.99
55.60

Answer 44

Perfect!

Answer 45

Now let me go back and show you something

Answer 46

A warehouse club allows non members to shop, but charges them a 10% mark up on all items purchased. If a computer costs $549.99 for members, what is the non member price?

Answer 47

You have a 10% Markup here, so take that .10, and add it to 1, like we did just now

Answer 48

1.1

Answer 49

Right, now multiply that by 550. Seem familiar? :)

Answer 50

When Denny has a sale he marks the price 15% more than his purchase price. What is the price of each the above items?

Answer 51

605

Answer 52

Yep, that trick works for every price mark up problem!

Answer 53

Wait! Please help me with the first one.

Answer 54

Sure, what do you need? Although I need to go kinda soon

Answer 55

Ok I just need help with like the first two of this problem.When Denny has a sale he marks the price 15% more than his purchase price. What is the price of each the above items?

Answer 56

Same prices as before? $1.04, $7.23, $9.99 and $42.77?

Answer 57

Yes.

Answer 58

Ok, same trick as before

15% = .15

.15+1=1.15

1.15 x 1.04$ = 1.19 $

1.15 x 7.23$ = 8.31$

1.15 x 9.99$ = 11.49$

1.15 x 42.77$ = 49.19$

Answer 59

You have helped me so much! Thank you so much!

Answer 60

You are very welcome. Good luck with your studies!