1. A store marks up the price of a television by 5%. The television costs the store $700.

At what price does the store sell each piece?

A B C D . $805 . $735 . $675 . $705

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Solution: Step 1 : Selling price = store's cost of the television + markup Explanation: Formula: = 700 + 5% of 700 Step 2 : Explanation: [Convert percent to decimal by moving decimal point two places left and then multiply with the cost.] Formula: = 700 + 0.05 700 Step 3 : Explanation: [Add.] Formula: = 700 + 35 = 735 Step 4 : The store sells each television at $735. Explanation: Formula:

2. A store marks up the price of a television by 3%. The television costs the store $600. At what price does the store sell each piece?
A B C D . $558 . $688 . $588 . $618

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Solution: Step 1 : Selling price = store's cost of the television + markup Explanation: Formula: = 600 + 3% of 600 Step 2 : Explanation: [Convert percent to decimal by moving decimal point two places left and then multiply with the cost.] Formula: = 600 + 0.03 600 Step 3 : Explanation: [Add.] Formula: = 600 + 18 = 618 Step 4 : The store sells each television at $618. Explanation: Formula:

3. Brad buys a bicycle at a cost of $600 and sells it at 6% discount to Charles. Charles sells it at 3% markup to Ed. Find the price that Ed paid Charles.
A B C D . $558.27 . $581.92 . $580.92 . $576.18

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Solution: Step 1 : Selling price of bicycle after 6% discount = regular price - discount price = 600 - 6% of regular price Explanation: Formula: Step 2 : = 600 - 0.06 600 Explanation: [Convert percent to decimal by moving decimal point two places to left and then multiply with the regular price.] Formula: Step 3 : = 600 - 36 = $564 Explanation: [Subtract.] Formula: Step 4 : Selling price of bicycle after 3% markup = Selling price of bicycle after 6% discount + 3% markup cost Explanation: Formula: Step 5 : = 564 + 3% of 564 Explanation: [Substitute the values.] Formula:

Step 6 : = 564 + 0.03 564 Explanation: [Convert percent to decimal by moving decimal point two places to left and then multiply with the cost.] Formula: Step 7 : = 564 + 16.92 = $580.92 Explanation: [Add.] Formula: Step 8 : Ed paid $580.92 to Charles. Explanation: Formula:

4. William buys a bicycle at a cost of $400 and sells it at 8% discount to Arthur. Arthur sells it at 4% markup to George. Find the price that George paid Arthur.
A B C D . $383.72 . $376.32 . $382.72 . $360.48

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Solution: Step 1 : Selling price of bicycle after 8% discount = regular price - discount price = 400 - 8% of regular price Explanation: Formula: Step 2 : = 400 - 0.08 400 Explanation: [Convert percent to decimal by moving decimal point two places to left and then multiply with the regular price.] Formula: Step 3 : = 400 - 32 = $368 Explanation: [Subtract.] Formula: Step 4 : Selling price of bicycle after 4% markup = Selling price of bicycle after 8% discount + 4% markup cost Explanation: Formula: Step 5 : = 368 + 4% of 368 Explanation: [Substitute the values.] Formula:

Step 6 : = 368 + 0.04 368 Explanation: [Convert percent to decimal by moving decimal point two places to left and then multiply with the cost.] Formula: Step 7 : = 368 + 14.72 = $382.72 Explanation: [Add.] Formula: Step 8 : George paid $382.72 to Arthur. Explanation: Formula:

5. The value of a machine decreases by 13% every year. Brian bought the machine yesterday for $20,000. What will be its value next year?
A B C D . $17,400 . $18,400 . $17,420 . $16,400

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Solution: Step 1 : The problem asks us to find the value of the machine next year. So, we first need to find 13% of the present value and then subtract that from the present value. Explanation: [The value of a machine decreases by 13% every year.] Formula: Step 2 : 13% Explanation: [Write the percent as a decimal.] Formula: = 13100 = 0.13 Step 3 : 13% of 20000 Explanation: [Multiply.] Formula: = 0.13 20000 = 2600 Step 4 : Value of the machine next year Explanation: Formula: = 20000 - 2600 = 17400 Step 5 : So, next year, the value of the machine will be $17,400. Explanation: Formula: