4. the wholesale price for a box of smoked salmon is $99.50. a. the markup is 45%. calculate the markup. (2…

4. the wholesale price for a box of smoked salmon is $99.50. a. the markup is 45%. calculate the markup. (2 marks) b. what will the price of the box of smoked salmon be after the markup? (2 marks)

4. the wholesale price for a box of smoked salmon is $99.50. a. the markup is 45%. calculate the markup. (2 marks) b. what will the price of the box of smoked salmon be after the markup? (2 marks)

Answer

Explanation:

Step1: Calculate the markup amount

The markup is calculated as a percentage of the wholesale - price. The formula for markup amount $M$ is $M = \text{Wholesale Price}\times\text{Markup Percentage}$. Given the wholesale price $W = 99.50$ and markup percentage $p=0.45$. So, $M=99.50\times0.45 = 44.775\approx44.78$.

Step2: Calculate the price after markup

The price after markup $P$ is the sum of the wholesale price and the markup amount. So, $P = 99.50+44.775 = 144.275\approx144.28$.

Answer:

a. The markup is $$44.78$. b. The price of the box of smoked salmon after the markup is $$144.28$.