SOLUTION: A patio table set that costs a dealer PHP 25000 less 45%, 25% is marked up 160% based on cost. For a quick sale, it is sold at a mark-down rate of 35%. What is the regular selling

Question 1045375: A patio table set that costs a dealer PHP 25000 less 45%, 25% is marked up 160% based on cost. For a quick sale, it is sold at a mark-down rate of 35%. What is the regular selling price? What was the sale price? What was the rate of mark-up based on cost realized during the sale?
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
he buys it for 25000 less 45%.
.45 * 25000 = 11250
25000 minus 11250 = 13750.
his net cost is 13750.

25% of it is marked up 160%.
25% of 13750 = .25 * 13750 = 3437.5
160% markup of 3437.5 = 1.6 * 3437.5 = 5500
markup is 5500.

total selling price is 13750 plus 5500 = 19250.

he bought it for 13750 and sold it for 19250.

his profit is 19250 minus 13750 = 5500

his profit margin is 5500 / 13750 = .4 = 40%.

here's a reference on markup and markdown.

http://www.purplemath.com/modules/percntof2.htm
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