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Brownsville, Texas, boasts being the southernmost international seaport and the largest city in the lower Rio Grande Valley. Ben Supple, an importer in Brownsville, has just received a shipment of Peruvian opals that he is pricing for sale. He paid $150 for the shipment. If he wants a 75% markup, calculate the selling price based on selling price. Then calculate the selling price based on cost. (again please show all work)

Verified Answer :

toporc

Let the selling price be S. The selling price based on selling price is found from:
\(\frac{S-150}{S}=\frac{0.75}{1}\)
Cross-multiplying, we get:
0.75S  = S - 150
which when solved for S gives a selling price = $600.

To find the selling price based on cost, the following equation applies:
@@MATH_TOKEN_1@@
Cross-multiplying, we get:
112.50 = S -150
which when solved for S gives a selling price = $262.50.

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