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Use a formula to solve each problem. See Example 1.Valentine's Day. Find the markup on a dozen roses if a florist buys them wholesale for 12.95 dollars and sells them for 47.50 dollars.
$$ \$ 34.55$$
Precalculus
Algebra
Chapter 2
Equations, Inequalities, and Problem Solving
Section 4
Formulas
Algebra Topics That are Reviewed at the Start of the Semester
Equations and Inequalities
Campbell University
Baylor University
University of Michigan - Ann Arbor
Idaho State University
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in this problem, we were told to find the markup of a dozen roses. If a forest buys them wholesale for $12.95 and then sells them before the $7.50 well, we're being asked to find the markup will remember the formula that deals with mark up is retail equals the cost plus the markup. So because we don't know the markup, we must have been given the retail, and we must been given the cost. Well, the retail is what? We're going to actually sell these four. So in this case, we're selling them for 3 $47.50. That would be our retail value. The cost is what we actually pay for the goods. So the wholesale is actually going to represent our cost in this case. So if we go back to our formula, I'm going to use the variables are for retail, see for cost and m for mark up. And what I'm going to do first is get em all by itself. While to do that, I need to move my C term to the other side. So I simply need to subtract, see from both sides of the equation and I'll be left with our minus. C is equal to while the seas will cancel. So now we simply need to substitute our values for the retail and cost into this equation. Or remember, the retail is $47.50 minus the cost, which was $12.95 and that will give us our market value. Well, $47.50 minus $12.95 is $34 and 55 cents, and that will be our markup.
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