The document discusses how to calculate pricing that includes markups and taxes. It defines markup as the difference between the purchase and sale prices of a product. It provides examples of calculating prices using markups in percentages and as decimals. The examples demonstrate calculating the original price with markup, then applying taxes as percentages to the total to determine the final sale price. Key factors that affect pricing are identified as costs, demand, availability, desired profit from markup, and applicable taxes.
If you want to clear your basics you can go through this, it is helpful in preparation of competitive exams, because the setup of question are according to competitive exams.
If you want to clear your basics you can go through this, it is helpful in preparation of competitive exams, because the setup of question are according to competitive exams.
I have taken coaching from NARESH INSTITUTE for CRT (Campus Recruitment Training). In these videos, I have explained all the questions with answer and how to approach for the question etc, in the same manner how they have taught to me at the time of training. Hope u like it.
Aptitude training playlist link :
https://www.youtube.com/playlist?list=PL3v9ipJOEEPfumKHa02HWjCfPvGQiPZiG
For full playlist of Interview puzzles videos :
https://www.youtube.com/playlist?list=PL3v9ipJOEEPfI4zt4ExamGJwndkvg0SFc
24 standard interview puzzles:
https://www.youtube.com/playlist?list=PL3v9ipJOEEPefIF4nscYOobim1iRBJTjw
for C and C++ questions, that are asked in the interviews, go through the posts in the link : http://comsciguide.blogspot.com/
for more videos, my youtube channel :
https://www.youtube.com/channel/UCvMy2V7gYW7VR2WgyvLj3-A
Profit and loss aptitude questions and answersMydear student
Students face lot of hurdles to clear their competitive exams, Especially Performing well in Aptitude exam will be very very tough. Mydearstudent website provided lot of Aptitude preparation questions with answers. If we follow certain principles we can easily master this Aptitude preparation. Mydearstudent website is the best platform to overcome your Aptitude preparation problems without any problems. All solved Aptitude preparation questions will make every student to score high marks.
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I have taken coaching from NARESH INSTITUTE for CRT (Campus Recruitment Training). In these videos, I have explained all the questions with answer and how to approach for the question etc, in the same manner how they have taught to me at the time of training. Hope u like it.
Aptitude training playlist link :
https://www.youtube.com/playlist?list=PL3v9ipJOEEPfumKHa02HWjCfPvGQiPZiG
For full playlist of Interview puzzles videos :
https://www.youtube.com/playlist?list=PL3v9ipJOEEPfI4zt4ExamGJwndkvg0SFc
24 standard interview puzzles:
https://www.youtube.com/playlist?list=PL3v9ipJOEEPefIF4nscYOobim1iRBJTjw
for C and C++ questions, that are asked in the interviews, go through the posts in the link : http://comsciguide.blogspot.com/
for more videos, my youtube channel :
https://www.youtube.com/channel/UCvMy2V7gYW7VR2WgyvLj3-A
Profit and loss aptitude questions and answersMydear student
Students face lot of hurdles to clear their competitive exams, Especially Performing well in Aptitude exam will be very very tough. Mydearstudent website provided lot of Aptitude preparation questions with answers. If we follow certain principles we can easily master this Aptitude preparation. Mydearstudent website is the best platform to overcome your Aptitude preparation problems without any problems. All solved Aptitude preparation questions will make every student to score high marks.
For more details go through the website
http://www.mydearstudent.com/aptitude
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1. Setting a Price
Slide 1
Definitions:
Markup: the difference between the amount a dealer sells a product
for and the amount he/she paid for it.
Percent: percent means “out of 100”; a percentage is a ratio in which
the denominator is 100.
2. Hints:
Slide 2
To change a number written
as a percent to a fraction,
write the number over 100.
23%
23
100
3. Hints:
Slide 3
To change a number written
as a percent to a fraction,
write the number over 100.
23%
23
100
To change a fraction to a
decimal, divide the denominator
into the numerator.
26
40
26 40 0.65
4. Hints:
Slide 4
To change a number written
as a percent to a fraction,
write the number over 100.
23%
23
100
To change a fraction to a
decimal, divide the denominator
into the numerator.
26
40
26 40 0.65
Since a percentage is a fraction
over 100, you can convert it to a
decimal by dividing the
percentage by 100.
27% 27 100 0.27
5. Slide 5
Prices are affected by several factors – for example:
• cost of materials
• demand (do customers want the item?)
• availability (is there enough of the item to meet the demand?)
• amount of markup that is added so that a profit is made
• taxes
Setting a Price
So… possible scenarios could be…
Price = cost of materials + markup + taxes
or
Price = original price + taxes
or
Price = cost of item + markup
6. Slide 6
How to Calculate Markup
Original Price = $8.45
Markup = 15%
Original Price x Markup (as a decimal)
= 8.45 x 0.15
=1.27 (rounded to 2 decimals)
How to Calculate Tax
Original Price = $16.75
5% GST
Original Price x Tax (as a decimal)
= 16.75 x 0.05
= 0.84 (rounded to 2 decimals)
7. Slide 7
Example 1:
Susan operates a pet store. She purchases Brand A dog food
at the wholesale price of $48 per bag of dog food. Susan
charges 15% markup. What will the price of the dog food be
before taxes?
Price = wholesale price + markup
Markup = wholesale price x percent markup
= 48 x 0.15
= 7.20
Price = 48 + 7.20 = 55.20
Answer:
The price of the dog food
will be $55.20 per bag.
8. Slide 8
Example 1:
Susan operates a pet store. She purchases Brand A dog food
at the wholesale price of $48 per bag of dog food. Susan
charges 15% markup. What will the price of the dog food be
before taxes?
100% original price + 15% markup = 115% or 1.15 as a decimal
Final Price = original price x percent
= 48 x 1.15
= 55.20
Alternative Solution
Answer:
The price of the dog food
will be $55.20 per bag.
9. Slide 9
Example 2:
Fred sells stereos. The list price for one of the stereos he sells
is $115.58. What will the total price be including 5% GST and
5% PST?
Price = wholesale price + GST + PST
GST = wholesale price x 0.05
= 115.58 x 0.05
= 5.78 (rounded to 2 decimal places)
PST = 5.78 (same as GST)
Total Price = 115.58 + 5.78 + 5.78 = 127.14
Answer:
The price of the stereo
including taxes will be
$127.14.
10. Slide 10
Example 2:
Fred sells stereos. The list price for one of the stereos he sells
is $115.58. What will the total price be including 5% GST and
5% PST?
100% original price + 5% GST + 5% PST = 110% = 1.10 (as a decimal)
Total Cost = original price x percent
= 115.58 x 1.10
= 127.14 (rounded to 2 decimal places)
Alternative Solution
Answer:
The price of the stereo
including taxes will be
$127.14.
11. Slide 11
Example 3:
Amber purchases fabric at a wholesale price for her custom
sewing business. If Amber pays $11.20/m and charges a
markup of 20%, what would the final price be including 5%
GST and 5% PST.
Price before taxes = wholesale price + markup
Markup = wholesale price x 0.2 = 2.24
Price before taxes = 11.20 + 2.24 = $13.44/m
GST = amount x 0.05
= 13.44 x 0.05
= 0.67 (rounded to 2 decimal places)
PST = 0.67 (same as GST)
Total Price after taxes = 13.44 + 0.67 + 0.67 = $14.78/m
Answer:
The total price of the fabric
including markup and
taxes will be $14.78/m
12. Slide 12
Example 3:
Amber purchases fabric at a wholesale price for her custom
sewing business. If Amber pays $11.20/m and charges a
markup of 20%, what would the final price be including 5%
GST and 5% PST.
100% original price + 20% markup = 120% = 1.20 (as a decimal)
Price before taxes = wholesale price x percent
= 11.20 x 1.20 = $13.44/m
Taxes 100% original + 5% GST + 5% PST = 110% = 1.10
Price after taxes = price with markup x percent
= 13.44 x 1.10
= 14.78 (rounded to 2 decimal places)
Alternative Solution
Answer:
The total price of the fabric including
markup and taxes will be $14.78/m